CA
Sector: Credit
BMO Hiring 90 Lenders in Ontario, Quebec, and the Atlantic Coast
Toronto-based Bank of Montreal-which has been cited for its “relentless” U.S. expansion of late-has announced a new hiring initiative on the home front, where it plans to hire 90 commercial lending specialists catering to small- business owners. The latest hires at BMO have been targeting their efforts at companies with annual sales of up to [...]
BMO Sees Expansion in Midwest U.S. As Creating Need for Retail, Commercial and Wealth Management Pros
Bank of Montreal Chief Executive William Downe is banking on continued expansion in the U.S., particularly in in places like Kansas, Missouri, Indiana, Illinois, Wisconsin and Minnesota-promising career opportunities a-plenty for retail lenders and wealth management professionals. In a related development, Bloomberg is reporting that BMO plans to hire 90 bankers specializing in small business [...]
Five Interview Questions for Credit Analysts
The job of a credit analyst is a challenging one, oriented to analytical and detail-driven people. Credit analysts assess the financial risks in things like equity or fixed income offerings, distressed debt, lending vehicles, or commodity portfolios. Gary McKelvie, director at recruiter Integrated Management Resources says you should be prepared to interview with a number [...]
Energy Traders Face Rocky Road, On and Off the Street
If you’re an energy trader, it’s a safe bet that you’re a bit worried about your job. Overall, due to tech and the big players taking over, there’s fewer jobs. Plus, the Commodity Futures Trading Commission is just about ready to announce position limits for physical commodity derivatives as mandated by Dodd-Frank. That, and expected [...]
Asset-Based Lending Looks Stable – Even Promising – When It Comes to Jobs
Despite the shakeup in traditional banking, asset-based lenders appear to be standing on solid ground. For finance professionals interested in commercial finance, the field can be a great long-term option. But finding opportunities may require some creativity. In a nutshell, asset-based lending is secured credit, with the loan traditionally backed by inventory, accounts receivables, or [...]
Share-Based Pay Lifts Total Compensation at Scotiabank
Deferring compensation is working out nicely for staff at Scotiabank if the January quarter is any indication. While a new incentive plan multiplied stock-based pay, the total for salaries and other cash compensation also rose for the investment banking unit’s 1,568 employees and dipped just slightly for the company overall. In a table accompanying its [...]
BMO Shifts Assets to U.S. Corporate Banking
Bank of Montreal is bulking up its U.S. commercial lending operation and is transferring an unspecified number of corporate clients from its capital markets division to the commercial bank. The move, disclosed Tuesday in BMO’s earnings release for its first quarter ended Jan. 31, reflects a factory rebound in the region. It more than doubles [...]
RBC Unveils Pay Reforms
Jumping aboard the compensation reform train, Royal Bank of Canada told capital markets employees it will incorporate risk measures in bonus calculations, will defer a larger share of compensation, and is finalizing a bonus clawback policy. The changes outlined in a memo to RBC employees are similar to those adopted by Bank of Nova Scotia, [...]
Big Banks’ Bonuses Tracking 18 Percent Rise
Like their Wall Street counterparts, Canada’s bankers are in line for bigger bonus checks this year than in 2008, corporate filings indicate. Incentive pay among the six largest Canadian banks totaled $6.4 billion for the first nine months of this year, up 18 percent from the same period last year, the Globe and Mail reports [...]
Job Market May Be Stabilizing, Recruiter Says
Although Canada’s unemployment rate stands at 8.4 percent, its highest level in years, and the jobs picture in the Canadian financial industry is not exactly frothy, recruiters say signs of equilibrium are returning. “Clearly the financial services market globally has still not recovered, but the recruitment market has plateaued somewhat, “says James Mayo, operating director [...]
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