GF
Company: HSBC
If you work anywhere in investment banking, you should familiarise yourself with Stuart Gulliver’s vision of the future
Today is HSBC investor day. Stuart Gulliver made a presentation. So did Sean O’Sullivan (COO) and so did Ian McKay (CFO). You may think HSBC is no massive deal in investment banking. But this would be wrong. In the first quarter, net revenues in the investment bank were $5.6bn, versus $8bn at Citi, and $4.7bn [...]
Who hired in the Middle East in April?
While many firms have announced their intentions to hire in the Middle East this month, the majority of new hire announcements were restricted to the senior ranks. The Abu Dhabi Investment Authority has reportedly hired Christophe Florin, currently chief operating officer for Axa Private Equity, to head its emerging markets private equity team. This is [...]
If you want to work for an international bank in the Gulf this year, move to Saudi
There’s a message coming out of a number of international banks when it comes to their presence in Saudi Arabia – it’s time to expand. We’ve pointed to the fact that the likes of Nomura and BNP Paribas are expanding in the kingdom, and now other firms are talking about recruitment. Firstly, there’s Barclays’ wealth [...]
Arguably the safest banks to work for in Middle Eastern M&A and DCM
The volume of debt capital markets (DCM) deals in the Middle East has been steadily increasing for some time now, but investment banks have still largely been reluctant to increase their headcount in this area. This could change if the current surge in activity continues. In the first quarter of 2012 debt issuance in the [...]
HSBC will try to hang on to Lloyds’ UAE staff after takeover
HSBC is cutting back its MENA headcount, but is still aiming to retain as many Lloyds Banking Group employees as possible following the acquisition of its UAE operations. HSBC’s Middle East operation revealed yesterday that it was set to take over the onshore retail and commercial banking business of Lloyds – a venture that employs [...]
Investment banking likely to be included in HSBC’s latest MENA job cuts
HSBC is cutting back its 12,000-strong MENA workforce and we understand that its investment bank is likely to be included in the cuts. Staff at the bank were informed via e-mail today that redundancies would be taking place in the Middle East as HSBC looks to strip out 30,000 jobs globally, according to a report [...]
Why it’s an uphill struggle attracting Emirati women into the banking sector
If attracting and developing Emiratis into financial services in the UAE remains a challenge, encouraging female Emiratis into the sector is more of an uphill struggle, despite the fact that they’re often better educated than their male counterparts. Women still only comprise around 30% of most banks and financial services organisations’ headcount in the Middle [...]
A simple test that will tell you whether you are going to lose your job
Rare is the bank that is not undergoing some sort of cost cutting procedure in the current market. Credit Suisse, Barclays, HSBC, Nomura, UBS and even Deutsche (which purports to be seizing market share and seems to be hiring) are in the grips of efficiency programmes aimed at driving down costs. Some are doing so with the [...]
Why you wouldn’t want to work for a small broker in the Middle East
Working for a retail brokerage is a perilous place to be; smaller players are shutting shop at a quicker rate than ever as trade volumes slump and even larger firms are deciding to just focus on institutional business. Assuming you’re determined to continue in this industry, are there any safer bets? Well, perhaps not. While [...]
These are some of the places you can get trained in financial services as a graduate in the Middle East
Fresh graduates need not panic. Banks in the Middle Easthaven’t completely forgotten you. Yes, the Arab Spring slashed more jobs than it created, but young blood is still needed for when the good times roll around. There are still hot spots to look out for. Financial regulation and auditing is still flavour of the month, [...]
Follow eFinancialCareers
What is RSS?
Advice
