eFinancialCareers

With liquidity locking up and financial recruitment showing signs of cooling, the UAE government has been quick to ensure the trickle of pessimism in the markets doesn’t turn into a flood. It has implemented a series of measures designed to shore up confidence in the region’s banking sector. President Shaikh Khalifa Bin Zayed Al Nahyan said yesterday that the government would guarantee all deposits and savings in national banks and... Read more

With healthy profits last year, and plans for up to 20% rise in assets, the Bahraini banking sector is suddenly looking like a more attractive place to work. The liberalisation of Bahrain’s investment laws has seen the assets of Bahrain’s banks rise by over 30% in 2007 to $285bn, according to a report by Securities and Investment Company (SICO). It anticipates another 20-25% per annum over the next three years. What’s more,... Read more

Financial services firms in the GCC are set to increase their headcount by 30% in the next few years, and up to 50,000 more jobs could be created. A study by Hewitt Associates shows that banks in the UAE, Bahrain, Qatar, Oman and Jordan are laggards when it comes to recruiting enough people to cope with increased levels of business. As a result, they’re set to splurge on staff. “Being... Read more

In the past, the Middle East has struggled to attract top bankers, but now international investment banks are moving them there in numbers. Citigroup The struggling US bank announced the appointment of Alberto Verme to head up its investment banking division in Dubai. Verme is one of Citigroup’s most senior bankers, currently global co-head of investment banking, and the move is part of a wider effort to bolster the bank’s presence in... Read more

Pay in the Middle East is spiralling. It now makes up almost 60% of banks’ operating costs. A survey by consultancy Hewitt Associates suggests salaries in Oman and Qatar lead the way when it comes to eating into banks’ profits. But pay across the Middle East banking sector is becoming a problem – particularly when you consider that the average US bank aims to keep compensation costs below 50% of... Read more

Jobs are plentiful, talent is scarce, competition is fierce and fickle financial services professionals in the Middle East are now changing jobs every seven months. The skills shortage in financial services in the Middle East is well known and it seems bankers are using this to their advantage – bolting after bonuses and shifting jobs for extra cash or a better position. Speaking at a recent conference, and citing headhunter... Read more