☰ Menu eFinancialCareers

How will local banks cope with the crisis?

As Wall Street takes a hammering, will Australian firms put up their own ‘no vacancy’ signs?

The Australian franchises of US investment banks may be hurting the most, but will hiring also be hit at the locals?

Recruiters reckon that Aussie-bank hiring slowed down anyway in July and that the Wall Street crisis hasn’t made much of an impact yet. There are no signs that the domestics are making layoffs or even freezing headcount in the wake of Wall Street’s troubles.

Despite the latest round of Macquarie-bashing, the bank is still hiring. Recruitment restraint at Westpac and ANZ seems to be more to do with the St George merger and firm-wide restructuring respectively than the news from New York.

But for how long will Australian jobs remain decoupled from the current US financial crisis? Tell us all below.

Comments (3)

  1. “ANZ Bank chief executive Mike Smith said yesterday that local banks, while strong, were being increasingly more selective when issuing credit to households and businesses.”….same could be said of hiring too

  2. They are doing ok financially and unlikely to start firing loads of people. If you have a Big 4 job especially, you’re probably better off sticking around.

  3. Could spell death for B&B

The comment is under moderation. It will appear shortly.


Screen Name


Consult our community guidelines here