For the past 18 months, Australian banks have been offshoring roles out of their home country, mainly into India. As recently as last month, Australian and New Zealand Banking Group announced that 70 back-office jobs would move from Sydney to Bangalore. But now ANZ isn’t just relocating roles, it’s cutting them completely. Fifty mainly managerial and administrative positions are for the chop amid weak credit demand in Australia, as part of previously announced plans to layoff 1,000 staff by September.
More hiring (Straits Times)
According to salary reports released today by recruiter firm Robert Half, 41 percent of financial firms in Singapore intend to expand their headcount in the first half of the year.
SCB loses banker (Finance Asia)
Anthony Arnaudy, head of debt capital markets for Northeast Asia at Standard Chartered, is leaving the bank on Friday.
Code staff (The Times)
Seventy two of the 112 “code staff” at Standard Chartered are outside Europe. “They are easy targets for local banks and US banks that won’t have to comply with CRD IV,” said CEO Peter Sands.
Goldman poaches (WSJ)
Goldman Sachs has hired Morgan Stanley’s Asia Pacific head of investment banking, Kate Richdale.
China reforms (Asian Banking & Finance)
China will continue its currency reforms to allow more flexibility in the renminbi’s exchange rate as its value nears an equilibrium.
First job (BankersUmbrella)
How to start a career in private banking.