Further evidence that transaction banking is a good place to work in the Middle East

Transaction banking, or global transaction services/banking as many international firms call it, has never been an overly-glamorous or well-paid place to work, but it certainly seems to be an area that is still presenting job opportunities in the Middle East.

The latest bank to unveil new hires in the region is Deutsche Bank, which has just named Sritam Iyer as region head in Central Eastern Europe Middle East and Africa for its trust & securities services and cash management for financial institutions (TSS/CMFI) division as part of a series of senior appointments in this area.

We’ve mentioned previously that it’s not the relationship management ‘front office’ corporate banking roles that are cropping up in the Middle East, but the more transactional focused positions.

Barclays, for instance, has made some senior appointments in the Middle East for its corporate banking unit in the last few months, most recently Oliver Baillie as head of cash management, UAE and GCC. Citi is believed to be hiring, while Standard Chartered, First Gulf Bank and Abu Dhabi Commercial Bank all have transaction banking vacancies currently.

Globally, there’s something of a talent shortage in this area. If you haven’t already, it may be wise to consider transaction banking as an option in the future.