GF
Sector: Corporate banking
Can domestic banks deliver on their hiring promises?
A number of domestic banks in the GCC have kick-started 2009 with bullish statements about their recruitment plans, but difficult market conditions could throw a spanner in the works. Noor Islamic Bank says it intends to grow domestically this year, the National Bank of Abu-Dhabi says it expects to hire as many people in 2009 [...]
Corporate bankers wanted to bring in liquidity
With liquidity tight just about everywhere, the GCC included, banks are in need of cash. This is creating roles for sales and relationship managers in corporate banking. The lack of liquidity is becoming a problem. Moody’s recently downgraded some local banks, which “reflected mounting liquidity pressures in the short to medium term”, according to John [...]
Will local banks start slashing in 2009?
With multi-national banks trimming headcount in the GCC, some big-hitting local banks have stepped forward with reassurances that they won’t be making redundancies. However, some think this is slightly optimistic and even if they do hold fire, recruitment is set to tail off going into next year. The likes of Emirates NBD, Abu Dhabi Commercial [...]
UAE government attempts to paper cracks in banking system
With liquidity locking up and financial recruitment showing signs of cooling, the UAE government has been quick to ensure the trickle of pessimism in the markets doesn’t turn into a flood. It has implemented a series of measures designed to shore up confidence in the region’s banking sector. President Shaikh Khalifa Bin Zayed Al Nahyan [...]
Bahrain is back
With healthy profits last year, and plans for up to 20% rise in assets, the Bahraini banking sector is suddenly looking like a more attractive place to work. The liberalisation of Bahrain’s investment laws has seen the assets of Bahrain’s banks rise by over 30% in 2007 to $285bn, according to a report by Securities [...]
Demand for bankers set to sky-rocket in the GCC
Financial services firms in the GCC are set to increase their headcount by 30% in the next few years, and up to 50,000 more jobs could be created. A study by Hewitt Associates shows that banks in the UAE, Bahrain, Qatar, Oman and Jordan are laggards when it comes to recruiting enough people to cope [...]
Big hitters making the Middle East move
In the past, the Middle East has struggled to attract top bankers, but now international investment banks are moving them there in numbers. Citigroup The struggling US bank announced the appointment of Alberto Verme to head up its investment banking division in Dubai. Verme is one of Citigroup’s most senior bankers, currently global co-head of [...]
Pay pain for banks in the GCC
Pay in the Middle East is spiralling. It now makes up almost 60% of banks’ operating costs. A survey by consultancy Hewitt Associates suggests salaries in Oman and Qatar lead the way when it comes to eating into banks’ profits. But pay across the Middle East banking sector is becoming a problem – particularly when [...]
FIG will be big in the Gulf
Gulf banks are increasingly eager to tie the knot, and Financial Institutions Group bankers with local contacts may yet be needed to make some introductions. Nuptials in the Gulf’s fragmented and over-banked market have already begun, with the National Bank of Dubai and Emirates Bank International in talks to create a new regional giant with [...]
Junior corporate financier? Dubai banks want you
Are you a junior corporate financier with a few years’ experience under your belt? You could be just what Gulf banks are looking for. “Demand is very high in corporate finance for people who have two to three years’ experience,” says Samar El Gazar, MD of Dubai-based recruitment firm Leaders Solutions. “Local as well as [...]
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