Barclays Capital is hiring for 750 financial services jobs, but most are in Europe and Asia.
Financial-services firms are hiring again, but the pace is slow and many firms are building staff faster in Europe and Asia than in the U.S., employment analysts told Forbes.
The hiring areas that are hottest include risk management as well as audits and implementation for mergers and acquisitions, according to Andrew Reina of Ajilon Finance Solutions. Many of the jobs opening up in the U.S., roughly 10 percent of them, are in Washington, where the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation have their headquarters. Those government-controlled giants are hiring people to work on all the bad loans they’ve absorbed since the financial crisis struck a year ago. Most of the positions are part-time consulting jobs, Reina says.
The private sector is hiring too, he adds, including JPMorgan Chase, American International Group, Royal Bank of Canada and Royal Bank of Scotland. The jobs they’re filling range from traditional finance and accounting positions to information technology posts for staffers who can help them retool their operations.
It’s refreshing news for financial-service job seekers after a year of limited opportunities, but there is measured caution from staffing companies that Forbes interviewed. Many are part time or consulting. A recent survey by the staffing firm Manpower Professional found that 9 percent of companies are expecting to downsize. Ten percent are hiring, Manpower told Forbes.
New York, the international capital of financial markets, may not recover as quickly as the rest of the world, said John Benson, CEO of eFinancialCareers.com. “New York will come back, but growth will be more robust overseas — in Europe, and especially in Asia,” Benson told Forbes. For example, banking giant Barclays Capital is now hiring 750 bankers — 650 in Europe and the remainder in Asia — where the company expects to boost equities jobs.
The news is good, but the competition is fierce. “With every job you see, there are hundreds, if not thousands, of people applying for it,” said Jason Kobrin, the managing director of Manpower.
[Image by lozzyloz via Flickr CC 3.0]
For more on financial-services jobs:
- After a 30-Year Career, CFO Scales Back
- Taking a Leap to Land a Finance Job
- Switching Industries: Exec Tells All
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