Geta news - finance & accountancy news
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The number of young people out of work reached a 13-year high in September as British companies cut recruitment sharply in an attempt to weather the recession.
Source – www.business.timesonline.co.uk– 13th November 2008 - Gráinne Gilmore, Economics Correspondent
LONDON, Nov 13 (Reuters) - Unfilled jobs in London's financial sector plunged by almost a half in October from a year ago, as the protracted credit crisis kept a lid on hiring. Vacancies in the City dropped 48 percent to 5,418 -- the lowest level since December -- and almost twice as many people, or 9,350 candidates, were chasing those jobs, the report by Morgan McKinley recruiters showed on Thursday.
Source – /www.reuters.com– 12th November 2008
Developed in partnership with the AGR and the Guardian and launched by Graduate Prospects, Real Prospects 2009 will be the first national survey to explore what graduates actually think about their employers' recruitment, training and career development programmes, rather than focusing on their pre-employment perceptions and expectations. Its aim is to improve transparency within the industry and help employers make informed decisions when developing their graduate recruitment programmes.
Source – /www.ri5.co.uk– 12th November 2008
Accountancy jobs and professional services are becoming more popular in the current economic climate, according to a survey by PricewaterhouseCoopers (PwC). The study found that although banking, insurance and finance sector jobs retained their position as the most popular option for graduates, market turmoil and mass job cuts in the industry had led to a shift in preferences. Sonja Stockton, head of student recruitment at PwC, explained that although her firm had "always attracted large numbers of applications from talented students", PwC has seen a "marked increase" in applications this compared to the same period in 2007.
Source – www.witanjardine.co.uk– 14th November 2008
Online recruitment is still proving to be a popular method of finding employment in some industries, despite the credit crunch, it has been found. Onrec.com reported that some websites specialising in the credit and risk industries have seen positive growth in the number of vacancies being advertised by companies.
Source – www.jobsnewswire.com– 10th November 2008
Consulting is traditionally one of the top choices for graduates and the large consultancies have huge recruitment programmes. However, the industry has learnt the lesson from the 2002 downturn, when firms carried on recruiting even after demand had started to drop significantly. Although billings remain buoyant, firms have been recruiting more cautiously for some months in the hope that supply will be more in line with expected reduced demand. “We clearly have a difficult environment,” says Alan Buckle, global head of advisory at KPMG, “but you can’t cut back on your business in anticipation every time it looks bad. Consultancy has always been more about perspiration and detail than it is about inspiration, so it is a time for very careful focus on the detail of the business.”
Source – www.ft.com– 14th November 2008 - by Rod Newing
An online recruitment conference is to be held by Onrec.com which aims to improve the service provided to jobseekers as well as giving industry professionals the chance to come together and learn from others. The Onrec Expo will take place in November next year following the success of the event which was held this September.
Source – www.jobsnewswire.com– 7th November 2008
Somewhere is hiring. Brewin Dolphin Investment Banking is officially looking for staff. Naturally, it is unwilling to talk numbers. Graeme Summers, head of investment banking at the firm, says hiring will be opportunistic, “depending on the quality and calibre of candidates”. The numbers involved are unlikely to make any impression on the thousands of people losing their jobs elsewhere: Brewin Dolphin employs just 60 people. Another five are definitely joining in early 2009. Summers says many of the additional hires are likely to be in equity research. They are also likely to have an ACA, an “entrepreneurial gene” and to be “personable”.
Source – www.efinancialcareers.co.uk– 13th November 2008- Sarah Butcher
Deloitte said today it was appointing Craig Armour to the role of senior manager in its enterprise risk services team. The big four firm said Armour would ‘lead the development and delivery of specialist technology assurance and security services in Scotland’, the Scotsman reports. Advertisement Armour joins the firm from Monster.com where he was vice-president for technical services in Europe. At Monster.com he managed all aspects of information technology services for 42 sites across 13 countries.
Source – www.accountancyage.com – 3rd November 2008
Job cuts are not the best way to reduce costs during the economic downturn, according to one business leader. Michael Rendell, partner and global head of human resource services at PricewaterhouseCoopers (PwC), believes there are better ways to save money during tough times. He advised companies to consider alternatives including job sharing, flexible working and reduced hours and pay instead of redundancies. "Cash-strapped companies may be feeling the pressure to reduce headcount but this can be a costly exercise - both in terms of payments in lieu of notice and recruiting employees when the market picks up," Mr Rendell said. Large companies which choose to adopt a more flexible approach during the downturn could emerge from the situation as a more "agile" institution, he added. Recently, a study conducted by Baker Tilley revealed that 98 per cent of finance directors believe that economic growth will not return to the levels seen last year until 2011 at the earliest.
Source – www.i-l-m.com – 31st October 2008
International IT services company Atos Origin has announced a five year contract worth £8m with the Association of Chartered Certified Accountants. The new contract will see the technology company take over the IT infrastructure of all 80 offices and centres worldwide, including the 122,000 members and 325,000 students. Advertisement Russell Price, ACCA IT director said: 'I believe that by working together we will be able to transform and improve our technology to deliver improved services to our students, members and employers.'
Source – www.accountancyage.com – - 29th October 2008
This year’s Chartered Institute of Personnel and Development (CIPD) and Croner Reward pay survey (Personnel Rewards Survey) shows that those working in recruitment at the senior management level have experienced the biggest increase in salary over all other HR specialisms at that level, indicating that organisations are valuing highly the recruitment and retention of key talent during difficult economic times. In fact, recruitment consultants are valued more than ever, with their salaries being generally 11% above the average senior management HR pay of £45,000 per annum, compared with 4% above the average in 2007.
Source – www.www.onrec.com – - 23rd October 2008
Manchester-based executive recruitment firm Ford Hastings has appointed Peter O’Sullivan as a senior consultant. O’Sullivan has experience of working in financial services recruitment, having previously held senior posts at Robert Walters and ECHM. Ford Hastings, which was set up in 2003, specialises in recruiting chief executives and finance directors. It said O’Sullivan’s appointment is aimed at boosting its presence in the Manchester market. “I am extremely pleased that Peter has joined Ford Hastings,” said founder Tim Hastings. “I spent around nine months looking for the right candidate and I am sure he will make a valuable contribution to the business.”
Source – www.crainsmanchesterbusiness.co.uk– by Michael Fahy - 22nd October 2008
A Liverpool-based executive recruitment and talent management consultancy has unveiled major rebranding plans following its acquisition in a management buy-out. NDK International, based at the Plaza, Old Hall Street, has been bought from founder Neil Kelly by new joint managing partners, Simon Kerevan and Alex Martin, for an undisclosed sum.
Source – www.onrec.com – 22nd October 2008
If you are faced with unemployment, keep a cool head and make sure you get the best possible redundancy deal, say chartered accountants. With the highest rise in unemployment for 17 years announced this week, and predictions of 2 million jobless by Christmas, financial experts urge people to ensure their redundancy package is tax-efficient. “When you lose your job, your termination package could consist of a mixture of things – statutory redundancy pay, extra redundancy pay the employer has decided to give you, maybe arrears of pay or pay in lieu of notice. These are all taxed in different ways,” says Jane Moore, of the Tax Faculty at the Institute of Chartered Accountants in England and Wales.
Source – www.icaew.com – 17th October 2008
More candidates than ever are setting themselves up for a bright future in the Accountancy profession, as the Institute of Chartered Accountants in England and Wales (ICAEW) today announced the results of the September ACA Professional Stage exams. The September sitting marks the first time all candidates have taken the more flexible ACA qualification structure. The new format was introduced last year following widespread consultation with relevant stakeholders to ensure the ACA maintains its reputation for quality and relevance.
Source – www.icaew.com – 17th October 2008
KPMG has strengthened its team by promomoting John Harrison, its Asia Pacific chairman, to the newly-created position of deputy chairman, KPMG International, effective immediately. Michael Wareing remains chief executive officer. Timothy Flynn, chairman, KPMG International, said Harrison would work closely with him in supporting the execution of global responsibilities, and 'in helping to drive the KPMG global agenda — including further integration of KPMG globally'.
Source – www.accountancyage.com – 15th October 2008
The US treasury has announced it has recruited big four firms PricewaterhouseCoopers (PwC) and Ernst & Young (E&Y) to help in the emergency buyouts of toxic assets from struggling financial institutions by providing ‘accounting and internal controls services needed to administer the complex portfolio of troubled assets’, including whole loans and mortgage-backed securities. The treasury chose the two firms from a pool of 12 and the initial orders for PwC and E&Y are worth $191,469.27 and $492,006.95, respectively.
Source – www.accountancyage.com – 22nd October 2008
Associated Northcliffe Digital (AND), the digital consumer division of DMGT, today announces the acquisition of Broadbean Technology, Europe's leading provider of online job advert distribution and response tracking solutions for the recruitment industry. The acquisition provides Broadbean with access to AND's extensive resources and breadth of experience in the digital arena. Under the terms of the deal Broadbean will maintain its brand name, continue to be led by the current management team from its headquarters in Canary Wharf and retain all its current employees. Since its launch in 2002, Broadbean has enjoyed rapid growth. It has doubled in size for each of its six years of trading and built an enviable reputation for excellent customer service in the process. The multi-award winning business has more than 50 staff and distributes in excess of 1.5million adverts to a network of over 700 job boards every month.
Source – http://www.onrec.com – 20th October 2008
In a bid to determine if companies are paying too much in green taxes, KPMG has launched a new green calculator initiative. The Environmental Tax Health Check (ETHiC) is an online tool, which calculates how much a business is paying in green taxes and how much it could save in green tax breaks and allowances.
Source – http://www.accountancymagazine.com – 6th October 2008 - Emily Beattie
The EU has eased fair value accounting rules, bringing its 27 member countries in unison with changes agreed by international accounting standards. In recent weeks there has been increasing pressure by politicians and European banks on the International Accounting Standards Board to make changes to the rules, which are dubbed by some as being unfair to banks during the credit crisis.
Source – http://www.accountancymagazine.com – 16th October 2008 - Emily Beattie
A record number of FTSE 100 finance chiefs have breached the £1m pay barrier, according to figures complied by Accountancy. Some 49 out of the 92 finance directors of the UK’s largest listed companies have now joined the millionaires’ club, up from 41 out of 96 last year. Mining company FDs have benefited most this year, proving where there is muck there is brass. Rio Tinto’s Guy Elliott, the highest paid FD, was awarded £4.65m, followed by Miguel Perry, who made £3.8m at Eurasian Natural Resources. Financial services FDs also did well, though their pay packets would have been set before the full impact of the credit crunch.
Source – http://www.accountancymagazine.com – 1st October 2008 - Philip Smith
Ernst & Young has been appointed to work out the value of the bonds Hong Kong banks have agreed to buy back from the collapsed Lehman Brothers at market value. No timetable has yet been set, but according to The Straits Times the banks made the move due to the ‘extraordinary market situation’. A spokesman for the Hong Kong Association of Banks said: ‘We have agreed to accept the government’s plan to buy back Lehman Brothers mini-bonds at market value.’
Source – http://www.accountancymagazine.com – 17th October 2008
Despite the last 12 months being a period of economic instability, driven by the credit crunch, increased raw material costs, changes in oil prices and fluctuating consumer demand, UK businesses show they are not willing to give up but continue to fight. According to the latest annual UK Enterprise Survey Report 2008 from the Institute of Chartered Accountants in England and Wales (ICAEW), UK businesses remain ambitious. The survey paints a detailed picture of how UK businesses of all sizes, in all regions and all sectors – as well as their counterparts across the globe – have felt the impact of the more than a year-long credit crunch before the last few weeks of extreme economic turbulence in the international financial services sector.
Source – http://www.icaew.com – 3rd October 2008
Are your future business leaders ready for the boardroom challenge? Will they take on that challenge within your organisation? The ICAEW is launching its first peer to peer leadership network, the Financial Talent Executive Network (F-TEN). F-TEN is aimed at the next generation of finance leaders in business and practice helping employers to retain its best talent and to prepare them for the challenges faced at board-level. Research carried out by McKinsey called “Starting up as CFO” in March 2008, shows a significant gap in expectation between the chief executive and a new arrival on the board. F-TEN aims to close this gap by exposing the future c-suite talent to board-room issues and encourage them to explore these challenges in a peer environment outside their immediate organisation.
Source – http://www.icaew.com – 1st October 2008
Europe’s largest defence contractor, BAE, has appointed Deloitte to carry out an independent review of its practices to ensure it meets ethical standards, according to the Financial Times. The audit is expected to coincide with the publication of BAE’s corporate social responsibility and annual reports.
Source – http://www.accountancymagazine.com/croner/jsp/Editorial.do?cache=true&channelId=-305535&contentId=1061193&BV_UseBVCookie=yes – 29th September 2008 – by Emily Beattie
B&Q owner Kingfisher is considering moving its tax domicile abroad in order to lower costs. Auditor for Kingfisher, PricewaterhouseCoopers is reviewing the benefits of moving the headquarters to an offshore base as an attempt to save money. This year has already seen Regus, the serviced office company, Charter, the engineering company and Henderson, the asset management group move abroad.
Source – http://www.accountancymagazine.com/croner/jsp/Editorial.do?cache=true&channelId=-305535&contentId=1051899&BV_UseBVCookie=yes – 22nd September 2008 – by Emily Beattie
Following his departure from EMAP in April this year, Ian Griffiths has been appointed as the new finance director at ITV. Griffiths trained at Ernst & Young where he qualified as a chartered accountant before spending 14 years with EMAP. He will now take the reins from chief operating officer John Creswell, who was working in both roles.
Source – httphttp://www.accountancymagazine.com/croner/jsp/Editorial.do?cache=true&channelId=-305535&contentId=1051902&BV_UseBVCookie=yes– 22nd September 2008 – by Emily Beattie
As many companies consider reducing their intake of graduates, Tesco has vowed that it will continue to recruit as normal, it has emerged. The supermarket chain, which has a total of 15 graduate schemes, said these will all continue to run despite the economic instability of late. As a result, approximately 250 university leavers will embark on their new roles this month. Jobseeking graduates may also be pleased to learn that the supermarket's 2009 programme is now open to applicants and salaries start from £22,500. Head of Resourcing for Tesco in the UK, Lorna Bryant, commented: 'We're looking for graduates who want to join one of the few British employers that still offers jobs with enough training and development opportunities to provide a career for life.' Another large UK organisation, British Gas, also announced this week that it would be expanding its apprentice intake by 1,000 in an attempt to invest in the future of the country's engineering sector.
Source – http://www.get.hobsons.co.uk/news/job-hunting/797– 20 September 2008
Accountancy firm Larking Gowen has appointed 15 graduates to its offices in Norfolk, Suffolk and Essex. The news comes at the same time that accountancy was voted as the top profession to work in by The Times’ top 100 employers, which featured three of the Big Four in the coveted top spots. After the events of last weekend involving the loss of thousands of jobs in the financial sector, the appointment of 15 new trainees with Larking Gowen comes as a much needed boost.
Source – http://www.accountancymagazine.com/croner/jsp/Editorial.do?cache=true&channelId=-305535&contentId=1053489&BV_UseBVCookie=yes– 19th September 2008 by Emily Beattie
Given the recent financial turbulence that has engulfed the economy, it is no surprise that financial jobs, salaries and bonus expectations in the City have dropped since last year.
Source – http://www.accountancymagazine.com/croner/jsp/Editorial.do?cache=true&channelId=-305535&contentId=1051964&BV_UseBVCookie=yes – 18th September 2008 by Emily Beattie
The number of people claiming unemployment benefit rose by more than 32,500 to more than 900,000 last month, the seventh monthly rise and the biggest increase for almost 16 years. …………..A breakdown of job vacancies revealed the severest pressure points in the labour market. The number of jobs available in the finance and business services sector – now reeeling after this week’s announcement of the collapse of Lehman Brothers – during the three months to the end of August were more than 19 per cent lower than the same period a year ago.
ACCA is to be a Gold sponsor of the 18th World Congress of Accountants (WCOA), which will take place in Kuala Lumpur, Malaysia, in November 2010. The WCOA, which will be hosted by the Malaysian Institute of Accountants and co-hosted by the International Federation of Accountants, is to be held at the Kuala Lumpur Convention Centre from 8-11 November 2010, and is expected to attract 6,000 delegates.
Source – httphttp://www.accaglobal.com/allnews/global/2008/NEWSQ3/News/3138785– 15th September 2008
A record number of ACCA students - 164,646 - taking a total of 335,566 papers sat their final ACCA exams in June, with over 6,000 successful candidates achieving affiliate status.
Source – http://www.accaglobal.com/allnews/global/2008/NEWSQ3/News/3129859 – 18th August 2008
The ICAEW annual Enterprise Survey, now in its eleventh year, draws upon the expertise of our members working at the heart of business. Respondents are mainly chief financial officers, finance directors, or at another director level, in businesses of all sizes, from FTSE 100 companies to micro entitities. The survey provides a unique annual picture of the opportunities and challenges facing UK businesses. This year’s survey extends the insights into UK businesses’ attitudes to globalisation gained in the 2006 survey and finds, on the whole, a positive attitude to the opportunities and challenges that globalisation presents. Our report supports the view that UK businesses are seeking to increase engagement with developing economies, both as potential customers and as suppliers.
Source –http://www.icaew.com/index.cfm/route/152108/icaew_ga/pdf
The world’s largest staffing group Adecco has approached professional services recruiter Michael Page about a potential takeover. However a statement from the Michael Page board made it clear that the company did not welcome the approach. "The board of Michael Page notes the recent movement in its share price and press speculation and confirms that it has received an unsolicited preliminary approach from Adecco regarding a possible offer for the company. The approach is subject to a number of waivable pre conditions, including due diligence. The board of Michael Page continues to believe that the company has a very strong future as an independent group. The clear strategy of organically diversifying the group's activities by geography and discipline and increasing its exposure to growth markets, together with the longer-term structural growth drivers of the specialist recruitment market, mean the company has excellent prospects." Adecco responded to the statement confirming its interest in the company. “Adecco's stated strategy is to expand its professional operations in the US, Europe and Asia as well as looking at specialized general staffing companies. Further to the announcement made this morning by Michael Page, Adecco confirms it has made a preliminary approach and these discussions are at an early stage. Adecco remains focussed on value-based management and considers acquisition targets with financial discipline.” Michael Page’s share price rocketed on the news trading at over 350p – the last time it went over 300p was in May.
Source – httphttp://www.rec-con.co.uk/en/full.php?id=1899–Posted 6th August 2008 bi Online Staff
Top accountancy firm Ernst & Young has told some university leavers who were promised jobs in September that they may have to wait until next spring to join. Ernst & Young blamed "current market conditions" and said other groups are likely to be considering similar measures in an attempt to cut costs. Of the 500 graduates recruited to start in the autumn, 6pc have been told they must wait until April or take a small number of alternative positions. Some of those who had been promised jobs in the corporate finance department were offered replacement positions in tax. The credit crisis has put an end to the massive boom in mergers and acquisitions of the past few years, leaving corporate finance departments short of deals to work on. An Ernst & Young spokesman said: "None of the graduates has had their offers rescinded. The vast majority of those impacted have already accepted one of the alternative options." The remaining "Big Four" international accountancy and professional services firms, PriceWaterhouse Coopers, Deloitte and KPMG, said they no plans to rescind or delay
Source – http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/24/cnjobs124.xml – 23rd July 2008 by Rupert Neate
National recruitment group, HR GO plc, is delighted to announce the addition of its latest joint venture, HR GO Accountancy Recruitment Ltd to its group. The new group member specialises in recruiting accountancy staff at all levels, from Purchase Ledger Clerks to Certified Chartered Accountants, throughout the UK. Based in Huntingdon its Managing Director, Claire Hembrow, applies her extensive account management experience to running the new joint venture. HR GO Group Chairman, Jack Parkinson, explains: “the joint venture business model that the group has successfully implemented many times enables Claire to avoid many of the pitfalls of running a company. HR GO plc provides back-office services so that Claire’s team can concentrate on delivering a high level of service to their customers. “It is worthwhile taking care when recruiting new accountancy staff, or indeed a new apprentice, as mistakes are expensive. HR GO Accountancy Recruitment Ltd helps its clients to do just that, which is of increasing importance in the current challenging economic environment.” HR GO plc is one of the top 50 recruitment companies in the UK. The business turns over circa £90 million and employs approximately 500 permanent staff nationally. For further information on HR GO plc please visit: www.hrgogroup.co.uk
Source – www.onrec.com/newsstories/22246.asp – 9th July 2008
A new business survey by Barclays has revealed the most popular areas for small accountancy practices, and those expecting to hear about locations such as the City or Canary Wharf are in for something of a surprise. According to one of Britain’s biggest banks, the most popular locations for “high street accountants” are Camden, Hammersmith & Fulham, and Merton. The survey included only businesses with a turnover of under £1 million, and at AccountingWeb’s request, Barclays kindly supplied its full listings for the profession. The 15 areas of the UK with the highest concentration of small accounting firms, and possibly where the accounting market may be at its most competitive, are as follows (the percentage represents an area index compared to the national average): Camden 336% Hammersmith & Fulham 255% Merton 226% Wandsworth 214% Kingston & Surbiton 207% Harrow 196% Exeter 178% Bury St Edmunds 176% Ealing 173% Southend-On-Sea 172% Wolverhampton 170% Watford 169% Barnet 167% Colchester 167% Leeds 165% John Davis, marketing director of Barclays Local Business, praised the contribution all small businesses made to the national economy. “These businesses are responsible for in excess of 50 per cent of the UK’s GDP and without them the country would just grind to a halt,” he said.
Source http://www.accountingweb.co.uk – 6th May 2008
KPMG has emerged as number one in the Sunday Times Best Big Companies to Work For list, moving up one place from number two last year. This is the second time the Big Four firm has hit the jackpot, having won it in 2006. It is the first time any company has won the accolade twice. The 11,872-strong workforce is described as ‘happier than any other with the opportunities for personal growth offered them by their employer’. Ernst & Young made it to number five, down one from the previous year. But its chairman Mark Otty recorded the highest score among the bosses of the UK’s biggest companies on the ‘inspiring leader’ question in the survey.
Source –http://www.accountancymagazine.com– 10th March 2008
Acquisitions and a changing mix of services have helped Tenon, the AIM-quoted accountancy company, to a 44% rise in half year profits to £8.4m
Source –http://www.accountancymagazine.com– 11th March 2008
LONDON (Reuters) - Chancellor Alistair Darling delayed on Wednesday a planned rise in fuel duty following intense pressure to scrap the increase after soaring oil prices sent the cost of petrol sharply higher. Fuel duty had been scheduled to go up by 2 pence per litre in April. The rise will now be delayed until October. "Fuel duty is due to rise again in April but because I want to support the economy now and help business and families I will postpone that increase until October," Darling told parliament in his first budget. A six month delay in raising fuel duty could cost the government around 400 million pounds.
Source –http://uk.reuters.com– Wed 11th March 2008
Recruitment agencies were among the top 500 leading British business brands, according to research by Superbrands. Topping the super brand list in 2008 was Google, followed by Microsoft, BP, BBC and GlaxoSmithKline. Among the recruitment companies listed were: Reed (216), Manpower (270), Hays (319), Monster (348), Capita (352), Brook Street (366), Michael Page International (372), Office Angels (387), Adecco (469), Kelly Services (477) and Korn/Ferry International (487). The results were compiled by surveying 1,500 professionals using a list of 1,300 brands.
Source –http://www.recruiter.co.uk/Articles/336353/Business+brands.html–26 February 2008
Hiring in the banking sector may not be as strong as before the credit crunch, but nevertheless there has been a slight increase since the start of the year The number of job vacancies in the banking sector increased at the start of the year, according to latest figures from reed.co.uk's Market Index.
The number of candidates looking for jobs in the UK financial services sector settled back down to around the 30,000 mark in January 2008, down 20.3% from October 2007, according to figures from Joslin Rowe.
Source –http://www.recruiter.co.uk/Articles/336352/Financial+recruitment.html–Published 26 February 2008
Premier Group has announced that it has submitted a possible all cash offer proposal to the board of Imprint for the entire issued and to be issued share capital of Imprint at a cash offer price of 115p per Imprint share. The offer values Imprint at approximately £45.2m. Premier first entered into discussions with Imprint¹s board in early November 2007 and submitted its first indicative offer proposal of 114p per Imprint share on 27 November.
Source –http://www.recruiter.co.uk/Articles/336354/Recruitment+acquisitions.html– Published 26 February 2008
Are you looking for a new job? If so, it helps to plan your job search strategy, including the type of position, salary, and cultural environment that's the right fit for you. Here are some tips from Career Matters (www.cvmatters.com) to help you accomplish your goals. Who Identify companies which have positions requiring your skills. Explore traditional and non-traditional industries where your experience is transferable. Who can assist you in your job search through referrals and networking? Attend networking events and ask family, friends and colleagues for referrals. Research the companies, position and salary you desire based on the career market and your qualifications. What What does a dream job mean to you? Is it salary, responsibility, title, power, or something else? Make a list of the things that are most important to your career. What unique skills, knowledge, and abilities do you have that can open new doors for you? WhereM Where do you want to work? Do you prefer to work in the public sector, a ‘blue chip’ company, non-profit organisation, private industry or as an entrepreneur? Which choice will provide you with the career plan and salary package you want? When When will you make your career change? Plan a target date for accomplishing your goals and outline how you plan to manage your time, especially if you continue working at your current job. Identify what you will need to do each week in order to meet your target date. Why Ask yourself why you are looking for new employment. The key to finding your dream job is acknowledging why you want a new career. Some of these reasons may help you determine this: • Salary increase • New manager • New industry • Work location closer to home • New division or department • Acknowledgment for your accomplishments • Leverage your experience • Overlooked for promotions • Lack of challenge and responsibility • Too long in the same position • Overworked and underpaid • Dead-end job An effective job search requires commitment, determination, persistence and patience. Not every career opportunity will be right for you - consider the pros and cons of each. Trust your instincts - a dream job should feel good!
Source –http://www.onrec.com/newsstories/20529.asp–26/02/2008
Alliance & Leicester (ALLL.L: Quote, Profile, Research) suffered a double blow from global financial market turmoil on Wednesday, warning a big rise in funding costs would dent 2008 profit after a writedown on risky assets hit 2007
Source – http://uk.reuters.com/article/businessNews/idUKL2031923420080220– 20th February 2008
LONDON (Reuters) - Embattled lender Northern Rock's new management team is set to hire consultancy McKinsey and investment bank Rothschild to advise it after the bank is nationalised this week, sources close to the situation said. The sources said on Wednesday that Ron Sandler, Northern Rock's new executive chairman, had asked McKinsey to work on a strategy for the bank, battered by a months-long crisis.
Source –http://uk.reuters.com/article/businessNews/idUKL2035421220080220 -20th February 2008
Shock, horror, somewhere in the world is hiring for structured finance. Pack your bags and whip out the factor 30, it looks like there might just be a few securitization-related roles on offer in the Middle East. Morgan Stanley may be dumping structured product bankers in London and New York, but rumour has it that it’s bulking up with them over in the desert. One London-based structured finance headhunter says banks like HSBC, Merrill Lynch and Morgan Stanley have been shifting securitization professionals out of the London market and into the GCC and Asia, where business is less flaccid.
Source –http://news.efinancialcareers.co.uk/NEWS_ITEM/newsItemId-12766-18 February 2008
- Nearly one-in-two finance professionals would switch financial centres if they could - Work-life balance issues the main driver only 1.2% for financial reasons - Regional financial centres in UK and Ireland rise in popularity According to a survey of over 1400 finance professionals – 95% of whom currently work in London - nearly half (47.5%) would choose to relocate tomorrow if they could. And according to the research, only 1.2% of those polled cited financial reasons as the driving force for looking to move.
Source –http://www.onrec.com/content2/news.asp?ID=10436– 31st January 2008
- 1 in 10 financial professionals looking to relocate would choose Dublin - Dublin more popular than New York - 74.3% cite work/life balance - 48% prepared to take pay-cut - 30-40 year olds keenest to move A poll of over 1400 financial professionals – the overwhelming majority currently working in London – reveals that more people would choose to move to Dublin than New York if they could. According to the survey – carried out by leading financial careers jobsite eFinancialCareers.com – 9% of those looking to relocate would opt for Dublin, compared to just 6% for New York, if they could keep their current London role and pay package. Of those wanting to move, 74.3% cited the work/life balance as the primary reason for switching cities.
Source –http://www.onrec.com/content2/news.asp?ID=10436–31/01/2006 10:09:00
Over 10% of City professionals would move North of the border if they could Over 60% prepared to take pay-cut to achieve their goal Under 35’s leading the charge Over 10% (10.2%) of financial professionals working in London would choose to move to Edinburgh if they could keep their current roles and pay according to a survey of over 1400 professionals by leading financial careers jobsite eFinancialCareers.com. But such is the lure of the Scottish capital, over 60% (60.2%) of those wanting to move would be willing to take a pay cut to achieve their goal: 34.3% by 5-10% 16.1% by 10-15% 6.3% by 15-25% 3.5% by over 25%
Source –http://www.onrec.com/content2/news.asp?ID=10436–31/01/2006 10:09:00
