Tuesday, February 07, 2006

Gulf financial jobs soar as growth accelerates :: GulfTalent

While most of the growth is in retail banking, it is on the corporate and investment side that banks face the greatest challenge recruiting. An increasing number of vacancies are remaining open for longer, with employers unable to find the right expertise quickly enough. "Competition is becoming very vicious in the sector and there are not enough professionals in the market." says Bantan.

Even larger banks with more modest headcount growth rates are having to work hard to retain their top employees, or to deal with the higher than usual attrition. Market leaders in particular face a barrage of competitive poaching by smaller, more aggressive rivals as well as new entrants to the market.
. . .
Areas with the greatest demand-supply mismatch reportedly include private banking, corporate finance, compliance and certain specializations within Islamic banking.

"We are actively looking for product expertise in Islamic banking but the pool of good people with the required skills, as well as an understanding of customer service, is small." said Declan Ball, Head of Human Resources at Dubai Bank. "As all banks are fighting a war for talent, one of our approaches is to bring in people with business expertise and train them on Shariah concepts."


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