AU
Sector: Credit
Are our banks really world beaters?
Two recent international league tables have highlighted the growing power of Australia’s banking sector. Has the financial crisis made the Big Four more competitive on the international stage because they have weathered the storms better than many foreign firms? Australia recently topped the US to take second place in a ranking of financial development released [...]
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 [...]
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 [...]
For sale sign up at ABN AMRO Australia
Who’ll buy ABN AMRO’s Australian unit? And what will happen to its 700 local staff? With a reported AU$1bn price tag, and most banks struggling to find cash at the moment, sale advisers Lazard Carnegie Wylie certainly have their work cut out. Analysts regard ABN AMRO’s mergers and acquisition division as one of the key [...]
Exile on Wall Street?
Wall Street is definitely not the flavour of the month at the moment, especially when it comes to investment banking. It’s not really surprising, therefore, that many Australians working in the Big Apple are checking out their job options for fear they may not have a job in the very near future. According to Adam [...]
False sense of security?
The US financial services industry is burning, but who’s to say Sydney’s so safe? Bear Stearns doesn’t have an Australian office and Macquarie and Babcock made healthy profits in 2007, but that doesn’t make Australia immune to what’s happening on Wall Street. Australia’s market has dropped 20% since November, with finance stocks down 30%. Notions [...]
Stock options under water
It’s been a rough six months for Aussie banks, and one leading stockbroker says more losses could be in store. Since August last year, shares in NAB have plummeted 26%, ANZ shareholders have lost 23%, and Babcock & Brown and Macquarie shares have also taken decent hits. Grant Williams, a director of Sydney-based stockbroker Reynolds, [...]
Crying out for credit analysts
It’s created grim consequences for many bankers, but ironically the credit squeeze is proving a boon for quality credit analysts, says a Sydney-based recruiter. Patrick Everest, partner at Jon Michel Executive Search, says credit risk professionals are now in higher demand than at any time over the last 12 to 18 months. “Both the institutional [...]
Creeping out of credit analysis
Psst! Those credit analysis skills might get you out of the back office – if you’re good. Booming markets and lots of debt mean banks need relationship managers and product specialists. But, says Christine Kwan at recruiter Michael Page, relationship managers and product specialists now need to be able to do credit analysis as well. [...]
Perth’s credit analysts come out on top
The mining boom in Western Australia has enabled Perth to leap above its eastern state rivals as the home of the highest base salaries for credit analysis in Australia. A survey by recruitment firm Robert Walters shows that the salary range for credit risk analysts in Perth with less than two years’ experience is now [...]
Follow eFinancialCareers
What is RSS?
