UK
Sector: HR & Recruitment
Headhunting heads to roll?
Back in 2002 and 2003, financial services headhunters cut staff to the bone. Is history about to repeat itself? Not according to so-called ‘search to search’ firms who headhunters use to fill their own vacancies and whose business it is to know such things. “I don’t think we are going to see mass redundancies in [...]
Hedge fund back offices in for a trim
Dillon Read Capital Management is axing employees. Prop traders should walk into new jobs. Back-office staff may be in for more of a crawl. The US-based hedge fund business, part of UBS, employed 250 people in midtown Manhattan, according to the Financial Times. What with the fund being closed after losing 62m in three months [...]
Pay up, I work in HR
Senior City HR professionals are taking home seven-figure packages. Not bad for a support function. “A good head of compensation and benefits is now on 1m,” says Sally Talbot, managing director of HR-focused headhunting boutique Redwood Search. “A global head of HR is on 750k to 1m, a European head of HR or a global [...]
All downhill from here?
Markets may be plummeting but profits – and pay – for finance recruiters remain robust. “The general feeling is that some of the smaller recruitment firms are having to offer big pay increases,” says Simon Hughes, a consultant at Strata Search, a headhunter of headhunters (‘rec to rec’) firm. “Consultants who would have earned a [...]
Merrill Lynch and hedge fund recruitment
Are hedge funds so desperate for staff that they need the help of investment banks to find them? Or are banks so keen to win lucrative prime brokerage mandates that they’re stepping on recruiters’ toes? Financial News reports that Merrill Lynch is launching a new initiative to help hedge funds land staff. Led by a [...]
Are headhunters being scalped?
There’s little denying that headhunters are doing well out of the current market. But they’re not doing as well as they did. And standards may be slipping. Simon Hughes, head of research at Stratasearch, a ‘search to search’ specialist which headhunts headhunters, tells us the City hiring boom has created a candidate-short market for search [...]
From HR to top bar
Surprise, surprise – HR isn’t a great route to the top of the financial services profession, despite this week’s elevation of Michael Grealy at Bank of Ireland Asset Management. Grealy, head of group human resources (HR) at Bank of Ireland since 2002, has been made chief executive of alternative investments in the capital markets division, [...]
Headhunters being headhunted
One indication of the buoyancy of the financial services hiring market, is that recruitment firms and headhunters are themselves hiring. Yesterday it emerged that The Rose Partnership, a financial services specialist executive search firm, is planning to grow staff numbers by 40%, with 12 to 15 new hires in the next two years. Calvert Percival, [...]
Engineered redundancies a quick but risky fix for banks
If you are deemed a problematic employee at your bank, chances are you run the risk of an engineered exit. A survey of HR professionals at 124 UK financial services firms has highlighted a growing problem in the banking sector: a full 70% of banks’ HR professionals surveyed said that employees who lied, bullied or [...]
European houses move to the Gulf
Dubai, Bahrain and Qatar are investing heavily in financial services projects The Gulf states are battling to establish the Arab world’s leading financial centre and the jobs market in the Middle East is booming as a result. Dubai is to launch a new stock exchange in its International Financial Centre this month. It is the [...]
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