It is set to be a promising year for those seeking employment in the Banking sector as many international banks are projecting growth this year and will be looking to recruit new employees in these areas.
Some senior bankers have stated that the United Arab Emirates is showing healthy business expansion and that the banking sector will need to expand also to accommodate this affluence. Standard Bank has an operations house in the UAE and it will be looking to double its number of Relations Managers over the next two years. Currently they have 180 Relations Managers in the consumer banking sector but want to increase this figure by about 40% this year.
RBS is now also looking to expand its portfolio in the UAE and it hopes to attract many new corporate clients with diverse business interests and has projected very ambitious revenue targets for 2010. They are also hoping to open a branch in the Qatar Financial Centre and they will be hoping to recruit new staff for this branch also.
The trend among all banks now appears to be to target growing business sectors and then bring the appropriate personnel on board to cater for their needs while then also downsizing sectors that are now seen as less desirable. Therefore there are also likely to be some job losses in sectors that will no longer be prioritized.
The Banks however still forecast more over all employment as the new areas they are concentrating on will be more lucrative and will require more expert staff to manage and cater for these new clients needs.Paul Holdsworth, Staff Writer, Gulf Jobs Market News