GF
Sector: Corporate banking
Are these 60% salary increases for Qatari bankers really a good thing?
When it comes to achieving nationalisation targets, banks in both Qatar and Dubai have always struggled to prise local candidates away from relatively cushy and well-paying public sector jobs. Now, in response to spiralling salaries in government jobs, banks in Qatar have been handing 60% pay rises to local staff to ensure they’re able to [...]
Have expat bankers in Bahrain finally decided that it’s better to stay?
Despite protestations to the contrary, international financial services firms have started shifting their Middle East HQs from Bahrain to Dubai. First it was asset manager Robeco, which is moving just 12 staff to the DIFC by year-end, and now French bank Crédit Agricole is relocating its 60 or so employees from Bahrain to Dubai. This [...]
Five roles still defying the slowdown
It’s Ramadan, it’s summer, and capital markets are tanking across the globe – a toxic combination that means recruitment in the Middle East financial sector has, by and large, ground to a halt. However, amidst the new-found gloom and traditional seasonal lull, there are some roles that financial services firms continue to hire for. Based [...]
Why expat bankers should feel a little threatened by the Saudi nationalisation push
Saudi Arabia’s new nationalisation push will no doubt have some expats feeling worried about the long-term viability of their career in the kingdom. However, those working in banking can breathe easy – for now. In a bid to tackle unemployment in the kingdom, the Saudi government has rolled out an aggressive nationalisation programme, called Nitaqat, [...]
Expat ‘dead wood’ beware the coming cull in Abu Dhabi
Abu Dhabi is rolling out an old trick to create jobs for Emiratis – laying off expats. While this is so-far believed to be confined to the public sector, financial services could soon be affected. A new Emiratisation drive in Abu Dhabi is, according to a report on Reuters, being sanctioned by the Executive Council, [...]
Even if expats leave, Bahrain’s banking sector may be OK
The ongoing problems in Bahrain may have seen something of an exodus of expat bankers, but it’s questionable whether this is creating any real problems for the industry. Unlike the UAE, where the proportion of Emiratis working in financial services is relatively small, Bahrain’s banking sector is predominantly staffed by locals. In an interview with [...]
Are most Emiratis working in finance destined for a life in retail or commercial banking?
Every year, the Emiratisation quota imposed on banks increases, meaning they have to step up their efforts to encourage more locals into the sector. Yet, with such a limited talent pool available, is the government asking too much? In the public sector, where the hours are short and the work arguably less taxing, Emiratisation has [...]
Banks face an uphill struggle convincing staff to stay in Bahrain
International banks with a large presence in Bahrain are reiterating their commitment to the kingdom after the recent unrest, but face an uphill struggle keeping hold of staff who are either relocating or being targeted by other firms in Dubai, Qatar and Abu Dhabi. Bahrain may have just lifted the three-month state of emergency law [...]
HSBC is making redundancies in the Middle East, should you be worried?
HSBC is implementing the second round of redundancies in the MENA region in two years. Again, the proportion of staff affected is minimal (at 3%), but this time it’s driven by a global downsizing operation, rather than concerns over the Middle East. Around 360 people in HSBC’s 12,000-strong Middle East workforce are to be cut. [...]
Why expats should really leave Bahrain now
If Western expat financial services professionals in Bahrain haven’t considered the option of leaving the kingdom, they may wish to take on board the advice of the US Department of State, which is encouraging its citizens to depart if they possibly can. Western countries seem to have taken note of the threat Bahrain’s civil unrest [...]
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