AU
Sector: Capital markets
ANZ hires in Vietnam, profits fall in Aus
Despite announcing its first fall in profits in ten years, ANZ is gearing up to double its headcount in Vietnam. And there will be jobs for Aussies willing to relocate. ANZ has posted an overall net profit for the year ended September 30 of AU$3.319bn, down 21% from fiscal 2007. But the bank is pressing [...]
Westpac banks on big job losses
The AU$18.6bn merger plan announced this month between Westpac and St George looks destined to lead to big job cuts. Experts expect thousands of jobs to be axed as the banks integrate their operations and reduce overlaps across different divisions, as well as at the branch level. Toon Van Beeck, senior analyst with industry research [...]
Indian promise lures Aussie banks
What is it about ABN AMRO employees that’s so irresistible to Babcock & Brown (B&B)? The ASX-listed investment bank has poached ABN’s entire Indian M&A group, having nicked its infrastructure team 18 months ago. ABN staff might well be desirable, but this latest raid was motivated more by location: India. While outsourcing retail support roles [...]
Deutsche gets ready to raid Citi
Now may be a good time to get your CV to Deutsche Bank – especially if you work for Citigroup. A major recruitment drive is expected at Deutsche in Hong Kong as the German giant gears up for its third-quarter 2010 move to Kowloon’s International Commerce Centre. And Citigroup high fliers could be top of [...]
Macquarie bonuses a well-kept secret
It’s probably the best-kept secret in Australian banking circles right now. Just how big will Macquarie Bank’s profit be when it reports its annual results on 20th May, and will employee bonuses rise, fall or remain the same as last year? The bonus question has just about everyone stumped, with recruiters having little if anything [...]
All downhill at Lehmans? Not quite
It’s left the finances of some of Australia’s biggest local governments in poor shape, but Lehman Brothers is adamant the Grange Securities fiasco and the credit squeeze won’t force an early exit from the domestic market. The global i-bank has grown its Australian staff by 50-60 over the past 12 months, according to Michelle Sprod, [...]
Debt’s scarce, but infrastructure’s powering
Forget the credit crunch – infrastructure recruitment is continuing as if it never happened. “Everyone’s hiring in that space at the moment,” says Melissa Tal at recruiter Michael Page. Local and global banks are chasing Macquarie and Babcock & Brown’s lead. Others in the sector agree: “We definitely see it as an important part of [...]
Want to leave? Pay back that bonus
Investment banks are coming up with innovative ways to keep some staff on their payrolls, even while they let go of others in the wake of the credit crunch. This inventiveness mostly takes the form of long-term stock grants, or measures that let banks defer cash expenses in hopes that revenue growth will pick up [...]
The air has gone out of Asian equities hiring
The slowdown in equity capital markets is taking a toll on the hiring activity of some of Wall Street’s biggest names. UBS, Credit Suisse, Morgan Stanley and Goldman Sachs have all seen fees earned from equity and debt capital markets fall between 40% and 70% in the first three months of this year. And with [...]
Australian bankers spared redundancy
Wholesale redundancies don’t seem to be on the agenda right now for Australia’s major and regional trading banks, or for most of the investment banks. That’s the word from senior recruiters, although the marketplace is still full of downsizing rumours, including one that Bank of America will scale back from a trading bank to a [...]
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