AU
Company: AXA
Low turnover dries up super vacancies in Melbourne; the sector is now so desirable that staff just want to stay put
Melbourne’s super funds are creating fewer jobs than this time last year as a lack of attrition puts replacement hiring on hold. Australian workers have about $1.3trn managed by superannuation funds, while the industry employs some 60,000 people in Australia, according to a report by the Allen Consulting Group. But it’s been a slow start [...]
Is it too soon for Bar Cap and Nomura juniors to be speaking to headhunters?
The darlings of Australian investment banking hiring in 2010, Barclays Capital and Nomura, are already starting to face mild discontent from some of their junior staff, according to headhunters. However, for many analysts and associates, sticking with Bar Cap and Nomura could be the best long-term career option. Job hoppers be warned. Both banks are [...]
Dispatches: Australia Post won’t become a bank
Australia Post has signalled plans to expand financial services, but flatly rejects suggestions the organisation should become a bank. Australia Post chairman David Mortimer said that Australia Post, which began offering car insurance late last year, planned to expand into other financial services including superannuation, and was keen to offer more services for banks at [...]
Dispatches: Job adverts at two-year high, says ANZ survey
Job advertisements in newspapers and on the internet climbed to the highest level in nearly two years in November, a promising omen for further gains in the official labour report due later this week. A survey by ANZ showed total job advertisements rose a seasonally adjusted 2.9 per cent in November, from October when they [...]
Dispatches: St George plans expansion
St George’s new chief executive Rob Chapman has unveiled an aggressive strategy to expand in Queensland, Victoria and Western Australia. Mr Chapman, who takes over today as chief executive of the country’s fifth-biggest bank, says he plans to go for growth in “non-core” states while further expanding sales of Westpac group’s wealth products to St [...]
Funds management employment is stable, even if an AMP/Axa deal leads to layoffs
A steady stream of replacement recruitment has kept the employment market alive in funds management this year. Simone Mears, director, Profusion Group, describes hiring in 2010 as “solid, but not strong.” Luke Heath, chief executive, Chandler Heath Executive Recruitment comments: “Australian funds under management are growing, but the investment industry is very mature. And funds [...]
Dispatches: Never say never to bank consolidation
A month after the ACCC blocked NAB’s pitch for Axa Asia Pacific, bank chiefs are still reluctant to rule out further consolidation. For the chiefs it’s more a question of “never say never”, even though Australian Competition & Consumer Commission chairman Graeme Samuel left the merger door slightly ajar in a recent self-appraisal. (The Australian) [...]
Aussie i-banking hiring is now in a fairly serious slump
If you want a job at an investment bank in Australia, you should probably have made the move earlier this year. With deal volumes falling, firms are pegging back their recruitment as they take stock of their headcount needs. Dealogic figures for the first nine months this year show takeover activity down 31 per cent [...]
Dispatches: RBA says bad debts at Big Four have peaked
Bad debt charges at Australian banks have peaked, the RBA said today, and profits are higher despite global financial uncertainty. In its latest six-month review of the financial system, the Reserve Bank of Australia today said the stock of non-performing assets on bank balance sheets was stabilising at a lower level than in previous cycles, [...]
Dispatches: UBS downgrades NAB
UBS today became the second broker to downgrade National Australia Bank this week, following its failed play for Axa Asia Pacific. (The Australian) The total number of job vacancies in Australia in August 2010 was 181,300, in seasonally adjusted terms, the Australian Bureau of Statistics said today. (Sydney Morning Hearld) The National Tax and Accountants [...]
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