eFinancialCareers

This is a good time for financial professionals who are fluent in Chinese, Japanese or other Asian languages. Why? Consider: Big Japanese banks may pump billions of dollars into struggling Wall Street firms, says the Times of London. The trade deficit with China continues to break records and Chinese markets attract U.S. investors worried about volatile stocks. South Korea's economy continues to be strong, as is Taiwan's. Though there are openings... Read more

Over the past few years, Calgary has joined Houston and New York as a leading hub of energy trading. Keeping its desks staffed remains a challenge. Competition remains fierce not only among Canadian firms, but with big Wall Street companies and players eager to hire people away from the frigid north to the somewhat warmer climate in the U.S. Still, there are plenty of opportunities for financial professionals in the industry,... Read more

The ranks of Charter Financial Analysts in Canada are growing. More than 9,990 are registered to take the CFA exam in June, up 68 percent from 5,914 in 2006. Bob Johnson, deputy chief executive of the non-profit CFA Institute, says that's a sign of growing interest in the certification by employers, and the greater availability of training at colleges. Moreover, Johnson says, the number of candidates taking the exam for the... Read more

Boston-area investment firms aren't hurting for resumes. Thousands of bankers laid off from Wall Street firms are eager to make a change to areas of financial services that appear to be weathering the economic downturn, such as private equity, venture capital or hedge funds. Moreover, people living in New York - especially those with ties to New England - are willing to relocate to Boston, making the job market there... Read more

Boston's financial job market appears to have been less impacted by credit-market turmoil than other regions, but it hasn't escaped entirely. Nathan Strange, a partner with Chicago-based BCI Financial Recruiting who serves clients in the Bay State, says Boston's no better or worse than other parts of the U.S. Pay, he says, is "slightly lower than NYC but competitive with other major metro areas on the East Coast." Among the skill sets... Read more

The latest quarter was one that many Canadian banks would rather forget. That may make them less eager to hire. After reporting a loss of C$1.1 billion, or C$3 a share, Canadian Imperial Bank of Commerce announced plans to lay off 100 people from its CIBC World Markets. Other big banks, though they didn't announce any cuts, also had dismal results: Profit at Royal Bank, Canada's No. 1 lender, slumped 27... Read more

Canadians working in the securities industry don't want their work to be their life, or their life to be their work - even at a time when employers are trying to do more with less. Twenty six percent of CFOs recently polled by Accountemps said heavy workloads were the greatest source of work-related concerns for finance and accounting professionals in Canada. Work/life balance ranked second in the survey of 270 finance... Read more

As Wall Street lays off thousands of workers, financial institutions in Canada are hiring. Still, the economy north of the border isn't immune to the sub-prime mortgage crisis pressuring U.S. banks. Financial professionals have reason to be optimistic about the job market to the north. For one thing, the Canadian dollar continues to perform strongly in world currency markets: In September, it reached its highest valuation versus the U.S. dollar since... Read more

The subprime mortgage disaster is less severe for Canadian financial institutions and hasn't had a major impact on their hiring plans. Indeed, the University of Toronto's Rotman School of Management hasn't noticed any slowdown in recruiting activity on campus, according to Jeff Muzzerall, the school's director of business development. "All of the companies that recruited last year continue to recruit, including the Ontario Teachers Pension Plan, The CPP (Canadian Pension Plan) Investment... Read more

Although there are soft spots, college recruiting trends indicate a solid job market for financial professionals in San Francisco. Recruiting at both the University of California at Berkley and Stanford University remains brisk, indicating the job market for financial professionals in the San Francisco area remains strong though soft spots do remain, according to officials from the schools. Neither institution has noticed any dramatic drop-off in the number of companies recruiting... Read more

Canada's economy is showing signs of weakening, which may give financial professionals pause. On March 21, the Canadian dollar had its biggest drop since 1985 amid concerns that a slowing U.S. economy would reduce demand for commodities, says Bloomberg News. "We might see further weakness in the Canadian dollar if commodities continue to lose ground," Scotia Capital's Camilla Sutton told the news service. In addition, Canada's strong dollar has made Canadian... Read more

Uncertain times lie ahead for Boston's private equity companies. The main players in the city's private equity industry, Bain Capital and Thomas H Lee Partners, have filed lawsuits against six banks to force the financing of their $19.5 billion acquisition of Clear Channel Communications. Earlier this year, Bain's $2.2 billion buyout of 3Com Corp. aroused concern about national security in Congress, leading Bain to pull the plug on the offer it... Read more

Campus recruiting in Boston doesn't appear to be dramatically impacted by the economy's recent turmoil. Activity has been holding steady at MIT's Sloan School of Management, where the number of company presentations is down less than 1 percent, the school says. In fact, the April 15 Career Fair there was oversubscribed, attracting about 22 companies instead of the 15 that were expected, according to Jackie Wilbur, director of the school's career... Read more

Demand for financial advisors is expected to be brisk even as the growth in the overall Canadian job market slows. The need for professionals to help people with their financial and retirement planning is outstripping the supply of candidates. Positions are opening up because of the retirement of Baby Boomers and the general labor shortage, according to Advocis, the Financial Advisors Association of Canada. "Banks are hiring aggressively," says Taylor Train, an... Read more

Though portfolio managers and analysts get most of the attention, the companies they work for couldn't function without the people behind the scenes. In Boston, there's a strong demand for professionals to fill these jobs. Finding candidates, though, isn't always easy. They require specialized sets of skills such as international tax and accounting, notes Alex Cook, head of the asset management practice at Conley & Co. in Boston. "Trying to find... Read more

First the good news for accountants: There are plenty of jobs out there. Now the bad news: Some recruiters say salaries are rising at a slower rate than they have in previous years. Candidates with backgrounds in taxation, auditing and International Financial Reporting Standards (IFRS) are commanding premium salaries even as companies grapple with a slowing economy, according to Toronto-based recruiters. Having the designation of Chartered Accountant is an advantage for... Read more

Fidelity Investments continues to "aggressively" recruit talent for Pyramis Global Advisors, its institutional asset management division. A statement from the world's largest mutual fund company underscores how the financial services industry in the Boston area appears to be holding up better than Wall Street firms, which are reeling from the meltdown in the sub-prime mortgage market. "Pyramis has been hiring aggressively and continues to do so," says Scott Beyerl, a Fidelity... Read more

Newly appointed Chief Executive Robert L. Reynolds appears to have big plans for Putnam Investments. That may mean good news for job seekers. The former Fidelity Investments executive has outlined an ambitious agenda to boost the fortunes of Boston-based Putnam, which is trying to stem the tide of investor redemptions. Reynolds plans to add new products and bolster his research staff, according to media reports. The Boston Globe quotes him as... Read more

Talk is heating up that State Street Corp. is planning to move some of its workforce to the Boston suburbs. The Boston Business Journal reports the giant custodial bank is considering occupying as much as 800,000 square feet of office space outside the city, and may build a suburban campus. Among the possible locations is Westwood Station, a $1.5 billion development being constructed in Westwood that will include retail space, three... Read more