IE
Company: HSBC
Financial services jobs are being created in Ireland because Irish employees are comparatively cheap
Supply and demand seem to be playing out favourably for Irish financial services employees. As we noted in January, many Irish salaries fell last year. Now, it transpires that one fund administrator is moving to Ireland precisely because it’s easier to control costs here. Bloomberg reported last week that HSBC is moving a fund admin [...]
Stripping out the bureaucracy and increasing compensation at NAMA
NAMA needs to move away from its bureaucratic, public-sector mentality, embrace an entrepreneurial spirit, pay more to compete with the private sector and recruit another 200 staff. These are just a few of the recommendations in the (surprisingly brief) report by ex-HSBC chief executive Michael Geoghegan in his review of the way that NAMA operates. [...]
Why BarCap’s rate cuts will produce a domino effect
Until recently, the IT contractor 10% rate cuts had largely confined to a handful of investment banks which were retrenching in the UK anyway. Now, however, BarCap’s decision to slash contractor pay could prove to be the tipping point for universal rate cuts. From 5 December, BarCap (and Barclays Wealth) will cut rates by 10% [...]
The new hot skill-set: ETF fund accounting
The European exchange-traded funds (ETF) market was one of the growth stories of 2010. In the City of London, the existing players (and some new kids on the block) were all looking to gain a bigger slice of the market and poaching relatively scarce talent away from one another. But Ireland has also benefited from [...]
The new breed of corporate banker in Ireland
Needless to say, in the pre-crisis days of reckless lending within the Irish banking sector, when deals were sealed with a wink and handshake, being a corporate banker was all about who you knew, rather than a necessity to be equipped with an arsenal of quantitative analytical skills. This is beginning to change. Patrick Honohan, [...]
Everybody now wants to work for an international bank
Ireland’s domestic banks may be on the cusp of further redundancies, but the corporate banking teams of international firms are steadily growing – and candidates are clamouring for the opportunities. If the hype is to be believed, there are many reasons for optimism around employment prospects within international banks based in Ireland. For a start, [...]
All the most salient facts regarding the stress tests
Our poll indicates that you don’t rate the European stress tests. 40% of people who’ve responded to date think they were pointless piffle; the remainder think they were too lenient to be meaningful. The markets may agree. Even though German banks came out surprisingly well, Deutsche’s share price plummeted this morning, partly thanks to its [...]
Just how buoyant is the Irish insurance recruitment market really?
It’s been a mixed month for employment prospects in Ireland’s insurance sector – Quinn’s decision to cut 800 roles has understandably hit hard, while AXA’s creation of 200 jobs in Dublin is reflective of international players’ desire to expand in the country. But what’s indicative of the true situation? Is, as some have suggested, the [...]
Why Ireland’s financial services industry may soon be thanking Obama
Whisper it, but there’s a chance that Ireland’s financial services industry should be slightly thankful for Barack Obama’s rather populist hard-line stance. As a result of his crackdown on tax havens like Bermuda and the Cayman Islands, a slew of insurance and reinsurance firms are looking to move their legal domicile to Ireland. Now, his [...]
Could technology investment help stem high-turnover in fund administration?
The high levels of staff turnover within Ireland’s fund administration industry hasn’t been such a problem of late – with many people seeking job security instead of a new opportunity. However, with many firms now recruiting once again, they may look to an unlikely method to prevent staff jumping ship – technology. After a period [...]
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