AU
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 [...]
PPP: A niche sector that actually offers a wide range of employment options
The growth of public private partnerships (PPP) in Australia has opened up a variety of jobs in different types of organisations for both local and foreign financial professionals. PPP is an end-to-end industry involving several stakeholders, including banks, funds management firms, superannuation funds, accounting firms and governments. “You can transfer your experience so much more [...]
The Insider: The reality of finding a new job in Australia – either take less money or have double the skills as the person you replace
There is little doubt that the non-mining-based sectors of Australia are struggling, with many economic commentators suggesting they are virtually in recession (or at best showing limited growth). This is no more apparent than in financial services, as illustrated by the raft of recent job cuts at major banks. Rumours of future redundancies at investment [...]
The big picture: A look at 2011 bonuses for Australia’s finance professionals
In this latest post, we examine the results of the recent eFinancialCareers bonus survey in Australia. Here’s our take on the plausible reasons behind those figures, the trends and our predictions on post-bonus movement. To get the low-down, please click here to view the report.
Nomura confirms it: M&A and capital markets businesses are just not very profitable. Macquarie pays head of risk twice head of M&A
If you work in M&A or capital markets (collectively known as IBD), you may be a loss leader. Don’t, therefore, expect to get paid anything like your colleagues in sales and trading roles. There have always been suspicions that M&A bankers aren’t great for the bottom line (RBS’s don’t appear to have been profitable, for [...]
ANZ Singapore CEO Vishnu Shahaney: Why I’m still at the same firm after 30 years
Vishnu Shahaney, CEO of ANZ Singapore, is a rarity in banking – he’s not switched employers in the last 30 years. That’s not to say he’s stayed static: Shahaney has worked in India, Australia and Singapore, and taken on several senior management positions in areas like corporate, private and institutional banking. eFinancialCareers finds out why [...]
The Inbetweener: Blatant age discrimination is alive and kicking in Australian financial services – well, at least at my firm
As many of you would know, ‘tis the season to go to uni expos; to sit in your booth smiling and seemingly enjoying yourself. The intention is that the best-of-the-best will be enticed to visit, ask you some questions about how much you love your company, and with any luck, apply for the following year’s [...]
Boutiques take centre stage in pre-emptive grab for funds management distribution talent
Large funds management firms such as Perpetual have recently made cuts to their Melbourne distribution teams, which has enlarged the available talent pool at a time when niche players are considering expansion. “Some of the small ones are taking advantage of the reductions at the majors and are hiring. It’s a rare time in the [...]
My take on the job market (part II): Muted in funds management; pockets of growth in private equity; corporate sector seeks bankers
Victoria Biggs, partner, Platinum Pacific Partners, continues her review of the job market with a look at another three sectors. Click here to read last week’s blog. Funds management Recruitment into investment teams in funds management has always been slow and methodical. Fund managers aim for return (obviously) but also stability. This need for steadiness results [...]
Tell us: Would you gladly give up your cosy cubicle for an “officeless office”?
Bid farewell to your own desk along with its comforting clutter – communal work stations, or hot desking, could be coming your way soon, if a recent Wall Street Journal report is anything to go by. Unassigned work areas seem to be a growing phenomenon as companies seek to cut costs. American Express is one [...]
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