Touted as possible sanctuaries from the problems crippling the Western financial system, do the Middle East or Asia really offer ample job opportunities or even any shelter from redundancies?
Asia, in particular, might not be a completely safe haven, as both HSBC and Merrill Lynch have announced triple-digit job cuts in recent weeks.
Similarly, the Gulf markets have had to inject liquidity into the banking sector and fend off rumours that they aren’t, in fact, immune to the fate of global markets.
However, Merrill is expanding in the Middle East and HSBC’s chairman Stephen Green, believes that the balance of power is shifting towards both China and the Middle East, which will “affect financial markets profoundly”.
Recruiters tell us that the number of job opportunities in the regions far outstrips places in Western markets at the moment, but if the influx of overseas candidates continues, will there be enough to go around?
So, should you be hopping on the next plane to Dubai? Is Asia the promised land for banking jobs? Or are both regions beginning to show signs of strain? Your thoughts please….