Corporate & Institutional Banking

  1. How would we describe the current recruitment environment? How has this impacted on compensation?
    • An interesting one and more movement than in recent years … and if you believe the rumours there might be some more to come ! There has been a concerted effort in specialist sectors and shoring up talent. Particular attention has been across FIG, real estate, and energy / utilities.
    • Driven by deal flow and activity, but also a desire to firm up client relationships going forward.
    • Global firms have selectively looked where there has been an opportunity to exponentially grow income and expand relationships and sectors they have risk appetite and track record in – even if not local yet.
    • In terms of growth areas, FIG and Real Estate sectors, as well opportunities across transaction banking / services and other non-capital / balance sheet areas.
  2. Any client or candidate trends observed since the start of the year?
    • The local banks have tried in recent times to enhance their offering to clients by adding debt advisory (fee based) to complement their lending businesses. This appears to have been with mixed success, and now these bankers are wondering if a lending environment is really for them ?
    • The usual enquiries from junior CIB candidates wanting to move to private equity or investment banking – whilst not impossible, it is still more difficult with a list of junior investment bankers or CA corporate financiers ahead in the line.
    • Senior sector bankers are always seeking to confirm their firm has commitment to their sector and local market to ensure they remain current with clients.
  3. Any predictions for the rest of this year / beginning of 2016?
    • Perhaps a little bit of ‘back to the future’ with some clients enquiring around a broader set of skills – across advisory, capital markets, risk management – a return to the ‘senior banker’ concept. This seems true both for those with smaller platforms locally, and for local banks tying to enhance their offering.
    • There have been a few new players arrive on the local scene as representative offices. We are aware of a few also taking a serious look at branch status in coming years, based on their success in the local market.

Mischa Bennett
02 9235 9430