Financial job market news in Canada – job market & recruitment news for the financial sector – Canada & Worldwide

BNY Mellon is making its first foray into Canada’s wealth management market, hoping to tap into the fifth-largest population of millionaires worldwide with the planned acquisition of I3 Advisors of Toronto. Within the next 12 months the global financial services company plans to hire new staff to fuel its expansion. BNY Mellon anticipates no new hires immediately, says spokeswoman Susan Rivers. However, “looking into 2011 we definitely think we will be... Read more

It should not be necessary to remind you that RBC and Jefferies have been incomparably great hirers this year. Rather like Bear Stearns, Lehman, and HSBC between 2005 and 2007, they have been "building their businesses" and recruiting. To wit, Jefferies has hired all manner of people, and RBC has hired 140 people for its capital markets business in Europe, and still said it wanted to hire another 50-75 in June. Sputter,... Read more

The time was that the main motivation for shelling out for an MBA from a top business school was to boost your credentials for a more senior investment banking role. Not any more. According to Financial News the most recent crop of MBA graduates are turning their back on finance, in particular private equity and investment banking, with only a very small percentage moving towards these sectors. At Harvard, 11 percent... Read more

Financial advisors who know how to treat customers worth C$3 million to C$30 million and beyond are being courted by UBS. The Swiss bank's Canadian wealth management unit means to double its advisor headcount by 2015. UBS' private banking arm has wealth management offices in Vancouver, Calgary, Toronto and Montreal, and is currently looking at Halifax, Kitchener, Ottawa and Edmonton as other possible markets. Toronto-based Grant Rasmussen, chief executive of UBS Wealth... Read more

In a nutshell, asset-based lending is secured credit, with the loan traditionally backed by inventory, accounts receivables, or company equipment. Even less tangible items can back the loan - such things as trademarks or intellectual property. And while many finance pros may not be aware of this side of commercial finance, asset-based lending is big business. According to the Commercial Finance Association, the industry’s trade association, ABL accounted for $480... Read more

At a time when Montreal’s cachet as a financial center is waning, an important regulatory change down the road is likely to erode its status further and fuel Toronto’s appeal. On June 22, Canadian Finance Minister Jim Flaherty announced the creation of a new office with a mandate to help create a single, national securities regulator within roughly three years’ time. The so-called transition office will have a year to come... Read more

Judging from some recently surfaced e-mails among Goldman Sachs mortgage traders, the "Send" button on anyone's e-mail program ought to come with a warning label. Since it doesn't – not yet, anyway – here is a handy guide to making sure your own messages won't torpedo your career a few years down the line. The potential for toxic legal consequences from ill-considered e-mails isn't new. Just ask Henry Blodget, Jack Grubman... Read more

After a long period when financial professionals were lucky not to lose their jobs let alone find a new one, multiple job offers are starting to resurface. While it isn't commonplace for a job seeker to get offers from more than one employer, savvy financial professionals know offers beget offers. Having multiple job offers makes you a more desirable candidate and can motivate a prospective employer that is interested to deliver... Read more

Recruiting more than 300 financial consultants last year propelled Royal Bank of Canada into a list of the world’s 10 largest wealth managers based on assets under management. Now the Toronto-based bank hopes to build on that momentum. "RBC is always looking for people who complement our culture of stewardship and client-first approach," says Lisa Sorenson, director of human resources for RBC Wealth Management. She says high-producing advisors are attracted to... Read more

Recently published research says analysts holding the Chartered Financial Analyst (CFA) designation outperform those without the charter on measures such as timeliness and market influence. As Globe and Mail columnist Andrew Willis points out, that's an uplifting message for some 15,000 Candians who sat for the exam last weekend. The study, published in the American Accounting Association’s journal, The Accounting Review, compared the performance of sell-side equity analysts with and without a... Read more

Goldman Sachs recently opened a hedge fund administration office in Toronto, Ontario's provincial government announced early this month. The number of jobs was not disclosed either in the announcement or media coverage of it. "Goldman Sachs has opened its newest Goldman Sachs Administration Services (GSAS) office in Toronto with Fund Accounting and Investor Servicing areas of its hedge fund administration operations," said the statement from the Ontario Ministry of Economic Development... Read more

Financial employment in Canada is gaining steam alongside a rapid pickup in economy-wide job growth. Canada’s finance sector added a net 10,500 jobs during April. During the past 12 months, payroll jobs in finance, insurance, real estate and leasing sector swelled by 34,300 or 3.2 percent. Demand for financial services professionals has been "crazy" hot and recruiters face pressure to complete assignments more quickly, remarks Nathalie Francisci, executive vice president at... Read more

It’s a tough job-hunting environment, so in your zeal to stand out you may have made a mistake on your resume that could sink your chances instead of enhancing them. So, in the interests of helping you stay safe, we present highlights of HR World’s list of 25 things you should never include in your resume. Some are pretty standard, like don’t include what you hated about your last job, boss... Read more

Although Canada's unemployment rate stands at 8.4 percent, its highest level in years, and the jobs picture in the Canadian financial industry is not exactly frothy, recruiters say signs of equilibrium are returning. "Clearly the financial services market globally has still not recovered, but the recruitment market has plateaued somewhat, "says James Mayo, operating director for the financial services practice of Michael Page Canada in Toronto. "There is still some right-sizing... Read more

JPMorgan's expansion in natural resources banking is spurring hires of energy and mining bankers in Canada, with more to come. David Harrison, newly hired from UBS where he headed energy investment banking, will lead the buildout of an energy banking franchise for JPMorgan in Calgary. He reports to Adam Howard, head of Canadian investment banking, and Vean Gregg, head of North American oil and gas investment banking. Several more hires in... Read more

If you lost a finance-sector job in recent years, odds are your transition is taking longer than you expected. Money Magazine lays out a smorgasbord of useful tips for retooling a job search that's dragging. Take its example, former Ernst & Young IT manager Terase Salerno. Laid off in January 2009 after 15 years managing IT staffers and projects, the 36-year old West Milford, N.J. resident has had just six... Read more