Financial news Ireland – job market news, recruitment & career trends in Ireland for the finance sector

Bank of Ireland has transferred over 2,000 staff from its retail banking division in the Republic to the group's central support functions in the face of reduced business activity. Elsewhere, total headcount has reduced by just 5%, but a hiring freeze remains and bonuses have been slashed as part of an ongoing cost-cutting exercise. "Staff numbers are down as a result of a recruitment freeze, a policy of non-replacement of... Read more

In spite of the ongoing problems affecting Ireland’s domestic banks, it seems they have so far been in the relatively unique position of holding off making any significant headcount reductions. Thanks to Bank of Ireland, that may be about to change. In a bid to cut costs as the financial crisis continues to bite, Ireland’s biggest bank is thought to be considering making one in 10 of its Irish staff redundant,... Read more

Good news: 300 new jobs are being created in Dublin’s International Financial Services District. However, they are being earmarked for people from disadvantaged backgrounds that would normally have been excluded from the financial sector. The National College of Ireland has rolled out an educational initiative which aims to give 300 members of disadvantaged communities - in areas like inner city areas of Dublin and the docklands - jobs in the... Read more

A growing number of international workers are being absorbed by the Irish financial services industry, and in particular by the rapidly expanding funds sector. “There’s been a huge influx of Polish people in the Irish market this year,” says Darren McCabe, recruitment consultant with Joslin Rowe. This influx has eased the candidate shortage in the financial services sector which was particularly acute a year and a half ago, Darren says. The educational... Read more

Bank of Ireland Asset Management (BIAM) is looking to bolster its team for Eire’s first social infrastructure fund, but elsewhere fund management hiring has reached snail’s pace. The fund, due to be launched this year, will invest in private finance initiatives, public private partnerships, renewable energy, roads and light rail, according to its managing director, Andrew Robertson. Robertson joined BIAM in October last year, and was followed by Michael Byron... Read more

The mooted takeover of Irish Life and Permanent by Bank of Ireland has moved a step closer with news that JC Flowers and Carlyle are preparing to buy a stake in the bank with a view to engineering the merger. Meanwhile, AIB has been tipped to absorb EBS and Irish Nationwide and the Bank of Ireland has also been matched with Anglo Irish Bank. NCB Stockbrokers say consolidation is... Read more

At best, banking salaries in Ireland have been frozen this year and in worst-case scenarios, they're actually being reduced. However, bank employees should stand up for their rights and ensure they at least receive the minimum rise required by law. Larry Broderick, general secretary of the Irish Bank Officials' Association says that bank staff - faced with pay cuts, possible redundancy and reduced pension provision - should demand that any salary... Read more

Considering the fact that the government is planning to channel the bad debt of Ireland's top 20 property developers through the National Asset Management Agency (Nama), you might have thought a large number of jobs would be created to administer them. Sadly, it seems the plan is to outsource the work to third-parties. The top 20 construction firms in Ireland account for the vast majority of the some €90bn of loans... Read more

Two words can be used to largely sum up the financial services jobs market in Ireland this year – hiring freeze. While it’s true that the vast majority of sectors suffered, some managed to fare well in the face of adversity. 2009 has been a good year for… Insurance: The number of new jobs created might not be astronomical, but the fact that Ireland has continued to attract new insurance entrants to... Read more

A new survey by recruitment firm Joslin Rowe suggests that financial services hiring activity in Ireland is soaring, while growth in Scotland is more modest. Recruitment in Dublin soared between April and May, with permanent hiring activity increasing by a massive 53% month on month. “The financial services sector in Ireland is booming. One of the biggest areas is the funds area, and the fund administration area,” says Helen O’Reilly, head... Read more

We've all seen variations on the list of common questions interviewers ask, but how much have you thought about what questions you should ask a potential employer? The best interviews are really conversations, as well they should be. You want to know if the position is the right fit - just as much as the company does. After all, the work you do makes up a good portion of your waking... Read more

Bank of Ireland Asset Management is looking to hire 18 new staff in the next few weeks. The banks hopes to boost its numbers adding three investment managers and 15 research specialists in a bid to win back lost clients, Businessworld.ie reports. Mick Sweeney, chief executive of BIAM says the business has restructured to include the introduction of a global research platform to “accelerate turnaround in our performance.”

London may pay its financial services employees almost 38% more, but once rent and bills are paid Irish workers may be better off at the end of the month. And it’s all down to tax. A new survey by UBS investment bank shows that workers in Dublin have the third highest purchasing power in the world. The Irish Times reports that after paying for essential goods and services, Dubliners are able... Read more

It may not be a repository of the most exciting and well paid jobs in financial services, but when it comes to sheer appetite for staff, there is little to rival the global custody industry. As things stand, the custody industry already employs tens of thousands of people globally. At the end of last year, Mellon Financial Corporation, one of the world’s larger custodians in terms of assets, employed a total... Read more

Stockbroking and corporate finance firm Merrion Capital is boosting its capabilities in Ireland with a new office in Cork and additional new hires. “We will get bigger over the next two or three months, but we will probably expect to hire six or seven people in the new year into stockbroking and corporate finance,” says finance director Michael Hutton. “We will be looking for reasonably senior level revenue generators. We are... Read more