UK
Sector: Global custody
Custodians hit the transition management trail
Custodians are bulking up their transition management teams. Recruiters say jobs in the area pay more than other custody roles, and can be an opportunity for custody staff to get some quality contact with clients. “Transition management is an area that custodians are building up quite strongly,” says Dev Majithia, manager of the investment management [...]
London job losses on the cards at Bank of New York
London-based custodians at Bank of New York could soon find themselves supplanted by colleagues in Manchester. Reports suggest the Bank of New York is looking to expand its Manchester-based staff from 120 to 300 people by the end of the year. By 2009, it plans to employ 750 people in the city. Investment & Pensions [...]
Northern Trust goes Dutch
Dutch-speaking custodians looking for job opportunities may be interested to learn of expansionary aspirations at Northern Trust. The custodian and asset manager is growing its new Dutch office, and adding Dutch support staff in London. Financial News reports that the company has opened an office in Amsterdam to represent its asset management and asset servicing [...]
Custody: Rising pay threatens to drive jobs overseas
Sheer demand for asset administration staff is, not surprisingly, creating pressure for pay to rise. In Dublin, asset administrators can achieve a 10% to 20% increase in salaries when moving jobs, according to Mia Barry, a director at the local office of recruitment firm Robert Walters. Fund administrators with three years’ experience in the city [...]
Global custody hiring surging ahead
It may not be a repository of the most exciting and well paid jobs in financial services, but when it comes to sheer appetite for staff, there is little to rival the global custody industry. As things stand, the custody industry already employs tens of thousands of people globally. At the end of last year, [...]
Eastern allure for State Street
A recent article on the website Investment and Pensions Europe (www.ipe.com) doesn’t bode particularly well for the thousands of fund administration staff employed by State Street in locations such as Dublin, Edinburgh and Luxembourg. IPE reported State Street chief executive Ron Logue as saying there was an opportunity to move processing operations to Eastern Europe [...]
Packages up for derivatives expertise in the back office
The laws of supply and demand are both intuitive and easy to grasp. When a thing is in short supply, its price will rise and ration its availability. Back office derivative specialists are being rationed, so guess what’s happening to pay. Tara Ricks, managing director of London middle and back office recruitment firm Joslin Rowe [...]
Job wrap: Pisker exits Dresdner
Last week’s big news was the revelation that Andrew Pisker, London-based chief of executive of Dresdner Kleinwort Wasserstein (DrKW), was making a swift exit. Pisker’s retreat follows a shake up in which DrKW is to be folded into the corporate banking division of Dresdner Bank. Stefan Jentzsch, who left German bank HVB earlier this month, [...]
Northern Trust boosts London sales staff
Northern Trust, the US financial services group, has hired three vice-presidents in newly created roles to expand its asset servicing sales team for Europe, the Middle East and Africa. Ben Williams-Thomas will work on custody sales to European pension funds. He joins from JP Morgan Investor Services where he was a vice-president of sales and [...]
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