AU
Sector: Private Banking / Wealth Management
Is there any end to ANZ’s Asian expansion ambitions?
The term “aggressive hiring” is usually used by recruiters rather than senior bankers, but these were the words chosen by Alex Thursby, ANZ’s head of Asia Pacific, Europe and America, to describe his hiring plans in Asian wealth management. ANZ wants to double its wealth management business in Asia over the next three to four [...]
The Inbetweener: Please can firms hire fin planners with real financial experience, not just the RG146!
I was recently looking at the ASIC website (tragic, I know) to keep up to date with any changes in the industry. I was surprised to see that within wealth management, on what seemed a like mandatory basis, there were some rules for financial planners. One particular regulation sets out the need for advisers to [...]
There are more millionaires, but are there more private bankers?
The latest World Wealth Report from Merrill Lynch and Capgemini is trumpeting the fact that the number of Australian millionaires grew by 34.4 per cent during 2009 to 173,600. But there are mixed opinions on whether this has translated into more jobs for private bankers. The combined wealth of Aussie millionaires grew by 36.8 per [...]
Hire from the Big Four? No thanks, say global private banks
Are you managing high-net-worth clients for a Big Four banking group? Do you yearn to become a proper private banker at an international firm? Unfortunately your proposed career path faces challenges – serious ones. The likes of Credit Suisse, UBS, Macquarie, Morgan Stanley and Citi want to recruit more relationship managers, but despite a talent [...]
Fin planning recruitment: the bigger the better
The financial planning industry is set to become even more top-heavy as industry consolidation boosts the market share of the large players. This shake-up is directly affecting recruitment: the big boys are expanding their headcounts faster than the boutiques; and candidates are increasingly attracted to larger brands because of their better job security and referral [...]
Big Four talent war hits wealth management sector
ANZ’s takeover of ING should give it more pulling power to attract talent from other bank-owned wealth management firms. The firm is buying out ING’s 51 per cent shareholding in the ANZ-ING wealth management and life insurance joint ventures in Australia and New Zealand. This deal, which boosts the bank’s presence in wealth management, should [...]
UBS is hiring as private banking recruitment turns the corner
Foreign private banks in Australia are slowly starting to hire again, a year after the global financial crisis put paid to their growth plans. Earlier this week UBS announced that it wants to expand its 120-strong private banking team to 160 by 2014. The time-scale means this hardly counts as a hiring boom, but it [...]
Give us $100m and we’ll hire you
Foreign private banks aren’t in the mood to relax their rigid recruitment rules in Australia. If you’re from another sector of financial services, or (worse of all) unemployed, you just aren’t welcome in the high-net-worth world. The “real” private banks – like Credit Suisse and UBS – want to poach relationship managers with bulging client [...]
Daily Dispatches: British boss for Suncorp-Metway
Suncorp-Metway has appointed a British insurance and wealth management specialist as its new chief executive, increasing speculation that the company will eventually spin-off its troubled banking division. Patrick Snowball is joining the Brisbane-based financial services group having previously run the UK insurance operations of Aviva. (Courier Mail) ANZ may finally make a play for Royal [...]
Will Aviva boost NAB’s employer brand?
An injection of new products from Aviva Australia might help NAB to increase the quality and quantity of its wealth management workforce. The $925m purchase of Aviva’s wealth division gives NAB increased scale and breadth as it battles for talent with its Big Four rivals, including its key wealth-management rival, Westpac/St.George. Rather than leading to [...]
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