GF
Sector: Derivatives
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 [...]
Are Arabs from Venus and Westerners from Mars?
There’s no shortage of Western bankers in Dubai. But culturally, are Arabs and Westerners planets apart? Maybe – Kwintessential, a consultancy which specializes in such things, says Arabs tend to be more tactile than Western businessmen: “Be prepared to be held, touched, kissed and felt. Recoiling from such behavior would seem cold.” On the other [...]
Is it still a man’s world?
Are more women in the Gulf breaking into top-level positions in financial services, or is it still a male-dominated industry? Figures from the US Equal Opportunity Commission paint a cosmopolitan picture of the industry state-side. In the banking/credit arena, women make up 48.6% of the workforce, whereas in the securities market – the sector with [...]
Is Dubai the Florida of the investment banking world?
Elsewhere in the world, bankers over the age of 35 might be considered past it, but could they find a happy home in the Middle East? Latest figures from UK financial services recruiters Joslin Rowe reveal that only 18% of people changing jobs in the City of London are aged 35+ and a mere 0.5% [...]
Diving into derivatives
The Gulf’s fledgling derivatives market is tipped to explode, but the infancy of the industry means talent is being shipped in. Arqaam Capital, a Dubai-based investment bank established in 2004, has tipped the GCC’s derivatives market to reach around $250-300bn – or 25% of total stock market trading volumes in the region – over the [...]
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