May 2010
People in accounting jobs told pension action is a must
People in accounting jobs are being told that reform of the state pension system is necessary to help avert a growing crisis.
Dr Ros Altmann, an economist and independent financial expert, has welcomed the fact that the new coalition government has addressed the issue with some urgency.
"The first step is to reform the state pension so that it forms a stable base on which private long-term savings can be built," she commented.
However, the expert expressed concern over the possibility of introducing means testing, which may penalise the private scheme that half of the UK pensioners have invested in.
People in accounting jobs were told that introducing such a measure might put people off contributing to an initiative.
Dr Altmann did stress the need to tackle the problem "head-on" or risk the working population being "taxed harder" in years to come.
Among the policies put forward by the Conservative-Liberal Democrat governing alliance is the pledge to simplify the regulations surrounding pensions in order to encourage firms to offer competitive schemes to employees.
Updated: 26 May 2010.
Categories: finance-and-accounting, market-and-industry-news.
World Cup sick day warning given to people in HR jobs
People in HR jobs are being told that 15 per cent of the working population plan to take sick days to catch every match during the upcoming FIFA World Cup.
According to a report by Kellogg's, just one in ten UK employees said that they would be allowed to take time off during the tournament, which may be problematic with one of England's games, in the early stages, kicking off at 16[:]00 BST.
However, the company's communications manager Louise Davies suggested that those organisations that can be adaptable and offer workers the chance to see the football and still be able to do flexible shifts may find employees work harder for them.
She pointed to Kellogg's own flexible pattern, which includes allowing staff to take Friday afternoons off when they completed their allotted hours, a detail that may interest those in HR jobs.
The company's research highlighted that while 20 per cent of workers are willing to take time off to watch football, only one in 20 are willing to use their own holidays to do so.
Updated: 26 May 2010.
Categories: human-resources, market-and-industry-news.
People in HR jobs told of hard-working staff from New Zealand
People in HR jobs are learning that workers from New Zealand are being seen as possessing a strong work ethic by UK employers.
That is the opinion of Anna Groot, regional manager of the Kiwi Expat Association in the UK and Ireland, which represents the country's citizens working abroad and its business looking to capitalise on global opportunities.
She suggested company bosses who are employing New Zealand staff ware "resoundingly positive" in their assessment and noted the level of education workers are bringing over as well as a keenness to pitch in and do whatever needs to be done.
Ms Groot suggested that potential employees travel to the UK are not only relatively well educated but also come with a broad level of experience due to having taken up a wider role in smaller companies back home.
Despite changes in visa requirements, which may have caused confusion for people looking to visit Britain to work, she noted that the number of New Zealanders in this country has remained constant.
Updated: 26 May 2010.
Categories: human-resources, market-and-industry-news.
Commercial banking expert positive about UK business future
The man occupying one of HSBC's senior commercial banking jobs has indicated that businesses in the UK have adapted well during the recession.
Noel Quinn, the firm's head of commercial banking, is reassured by the amount of export activity during the first few months of 2010, which is also 15 per cent up year on year.
He observed that a unique occurrence going into the recession is how UK organisations "preserved cash better" as well as being able to achieve debt reduction at the same time.
The expert noted that, in his position in a senior banking job, he came across a supplier to the construction industry which saw a 90 per cent drop in domestic turnover, but had managed to offset the decline having already increased efforts in terms of export operations.
A report last week from the banking institution revealed that UK companies are on a good footing and future success may be driven by innovation and business thinking.
Updated: 26 May 2010.
Categories: banking-and-financial-services, market-and-industry-news.
Poolia Market Commentary
As I began to write this we awaited a General Election, now we have a coalition government which will hopefully not effect the positive signs that we have seen through out the first third of 2010. What this opening to 2010 has given us is high demand for staff across temporary, interim and permanent recruitment into financial services.
Within this edition of Market Insight we will look at where demand is, and probably more importantly given the state of the current market look at where there are shortages in candidate supply, trends that we have noted and what these may mean to the market.
Trends through Quarter 1 of 2010
Quarter 1 of 2010 for Poolia's financial services team saw the job flow rise significantly on Q1 of 2009 and the growth on Q4 2009 was also notable. The job flow on Q4 was up by 35% on Q4 and more than double of Q1 from 2009. All of this shows that there has been an increase in confidence and that we are returning to what the market was like in 2006 / 2007.
The flow of roles has been across all areas of finance and operations, for both temporary and permanent recruitment. Where the main drivers have come have been in product (particularly structured and complex derivatives) related areas, particularly those providing a control function such as Product Control and middle office related functions.
What these figures show is that market confidence has grown and is continuing to do so. The apprehension that was shown in Q4 has gone. In the January issue of Market Insight Poolia noted that the time to gauge how market confidence was effecting recruitment would be the middle to end of Q1. The reason for this was that bonuses would have been paid, budgets have been approved, and year ends were over. The result of this has been the continued increase in role flow, however the supply of suitable candidates has become more scarce.
So where has the growth come from?
Areas of demand
Operations
. There has been an increase in the demand for candidates with KYC knowledge and for people with client on-boarding experience. These have primarily been from a temporary basis but permanent demand is now increasing.
. The demand for candidates with structured and derivative product experience is up across all asset classes, and demand is across temporary and permanent especially within the middle office roles such as trade support, trader's assistant, and trade review type roles.
. Commodities are an area that many businesses are continuing to grow and volumes remain strong. This demand was seen in Q4 but is continuing to grow.
. A key requirement across all roles being recruited currently is that people need to be able to add value by looking at and challenging existing processes and ways of doing things. The aim behind this is to reduce bank's operational risk by improving controls.
Finance
. The demand for Product Controllers across all asset classes has returned, particularly people with experience in derivatives from an Exotic and Structured background.
. Candidates with MI experience and the ability to analyse what is behind the numbers and therefore add value.
. Regulatory accountants continue to be in demand, as do accountants with core technical skills.
. New qualified candidates also continue to be in demand and this is across a number of different areas, though demand does seem to be highest in Product Control.
Candidate Supply
The permanent market has seen a decrease in the number of candidates who are qualified and suitable for the roles that are in the market. It had been expected that the flow of candidates may increase given the upturn in the market and after bonus season, however movement has not occurred at the levels that were expected.
As well as a number of candidates staying in existing roles as salaries and bonuses met expectations, candidates are still wary of moving given the events of the past two years. It is this combined with the fact that a number of candidates left the market, and the fact that roles being recruited for currently require specific skill sets.
This shortage, combined with an increase in the number of roles being recruited for has meant that candidates are being counter offered and there is the re-emergence of multiple offers. What this does mean is that it is essential that organisations are moving processes as quickly as possible and as importantly are selling to candidates. Poolia should be able to provide information about candidate motivations and what candidates are looking for in a role to prospective interviewers so that this information can be used to help secure a candidate. Candidates want to know only about the role on offer, but about the opportunity, the progression and why your company is a company they want to work for.
From a temporary perspective the shortage is not as pronounced for temporary roles. The supply is down on 2009 as candidates who were made redundant during the downturn find work and we move back to a more traditional temporary market. From a finance perspective there has been an increase in the number of Australians and New Zealanders coming into the market. While this is not at the same levels as 2007, in part due to the exchange rate, the supply is stronger.
What does the rest of Q1 2010 hold?
With what is hopefully a stable coalition government, and hopefully regardless of the Greek and Southern Europe situation, Poolia expect the current levels of recruitment to continue and potentially increase. This will be across Finance and Operations for both temporary and permanent recruitment. The candidate flow however is likely to remain as it is currently, and within that there will be people who are testing the market rather than actively pursuing new opportunities.
Discrepancies in levels and make up of compensation, that have been caused by the differing situations that banks find themselves in, mean that the playing filed is not level necessarily when trying to attract candidates. Again this why the ability of organisations to move quickly and to be able to sell the opportunities that exist become even more important. This is especially so for mid tier organisations who now face more competition than in 2009 as the large investment banks have returned to the recruitment market.
What is likely to happen is that there will be a continued drive to hire people, but the candidates that are more scarce than they were over 2008 and 2009, and this means that recruitment processes need to take this into account to ensure that organisations are able to get the people that they want.
Contact Poolia today to discuss your recruitment needs
Updated: 17 May 2010.
Categories: banking-and-financial-services, finance-and-accounting, market-and-industry-news.
Accounting body calls for government tax clarity
People in accounting jobs are learning that industry body has called for the new coalition government to come clean over its tax plans as early as possible.
The UK200 Group, a mutual professional association representing mid-tier firms in the sector, has claimed the new coalition government needed to bring to an end any uncertainty about their proposals, Accountancy Age reports.
Since the Liberal Democrats agreed to enter into partnership with the Conservatives, a number of tax policies have needed to be amended or scrapped as a compromise.
For example, people in accounting jobs may be aware of a widely reported plan to introduce exemptions on those earning less than £10,000 and a scaling back of the Tories proposed cut in national insurance contributions.
David Whiscombe, a member of the group's tax panel and a partner with London-based firm BKL, said a "rethink" of plans made in recent years by the Labour administration.
Find information on the latest Finance & Accounting jobs at Poolia Recruitment Specialists
Updated: 17 May 2010.
Categories: finance-and-accounting, market-and-industry-news.
CIPD tells people in HR jobs of worries about immigration cap
People in HR jobs are being told by a UK body that employers must be consulted by the new coalition government before trying to implement a cap on immigration.
The Chartered Institute of Personnel and Development (CIPD) stated that it welcomed the policy programme agreed by the Conservative Party and Liberal Democrats during last weekend's negotiations.
It believes that a stable government can address "economic challenges" facing the UK in the coming months.
CIPD director Stephanie Bird affirmed her delight at the scrapping of a rise in national insurance contributions and said initiatives giving more immediate support to jobseekers looks "sensible".
However, people in HR jobs were told that the organisation continues to have deep concerns over proposals to cap non-European Union immigration, which it argues could leave bosses struggling to hire the level of talented workers to achieve growth.
Find information on the latest Human Resources roles at Poolia Recruitment Specialists
Updated: 17 May 2010.
Categories: human-resources, market-and-industry-news.
People in HR jobs told wellbeing scheme can cut company costs and absence
People in HR jobs are being told that implementing wellbeing initiatives may help a company keep workers in the office more and enable savings.
Let's Get Healthy's founder and managing director Maria Bourke has advised businesses to train members of staff to manage health programmes individually, which can lead to a decrease in the number of sick days taken.
She pointed out that 80 per cent of its client activity involves helping organisations to look at its workforce's wellbeing as they look to trim costs resulting from lost productivity.
Among her recommendations, one that may interest those in HR jobs is the idea of appointing a company "health champion" to listen to staff concerns about their health, avoiding the need to talk to management.
She added that the most successful programmes involve teaching firms "to deliver their own health plan, because that makes it sustainable and much more cost effective".
This follows research earlier this week by Business in the Community, which indicated that wellbeing initiatives could boost investor returns.
Find information on the latest Human Resources roles at Poolia Recruitment Specialists
Updated: 14 May 2010.
Categories: human-resources, market-and-industry-news.
People in HR jobs learn of talent initiative
People in HR jobs are learning about a new talent programme aimed at keeping top performing staff from the lure of head hunters.
The Co-operative Group, which employs around 114,000 and has 5.5 million members, wanted to build a "pipeline" of future leaders as it builds on its recent success.
Jackie Lanham, director of resourcing and development with the firm, said it wanted to identify promising talent and it has conducted external research in order to understand how potential is unearthed.
"With traditional organisational development intervention you start at the top first, but we decided to go where the need was, at that lower level," she said.
However, according to Ms Lanham, the only measure of how successful this project has been is when young applicants of promise begin to take up roles across various aspects of the Co-operative's business, which may leave a blueprint for people in HR jobs to follow for their companies.
Find information on the latest Human Resources roles at Poolia Recruitment Specialists
Updated: 14 May 2010.
Categories: human-resources, jobs, market-and-industry-news.
RBS looking to Investment Management Operations
People in banking jobs are learning the Royal Bank of Scotland Group (RBS) is reportedly using its investment arm to drive its business going forward.
The Wall Street Journal noted the organisation is "aggressively courting" corporate customers and is relying on this part of its operations to help turn around its fortunes and be in a position to allow the government to sell its 84 per cent stake in the firm.
Last week, Stephen Hester - the man in the top banking job at RBS - said the company was not taking excessive risks and is doing "everything it can" to make its investment banking arm "successful and safe" in terms of risk.
In March 2009, Newsnight economics editor Paul Mason, in an interview with Mark Thomas, said that UK taxpayers were exposed to more than £300 billion worth of debt after the original share purchase made by the Labour government.
Find information on the latest Banking & Financial Services jobs at Poolia Recruitment Specialists
Updated: 14 May 2010.
Categories: banking-and-financial-services, market-and-industry-news.
Accounting leaders recommend liabilities change
People in accounting jobs are learning that a global standards body is proposing changes for reporting of financial liabilities.
The International Accounting Standards Board (IASB) stressed these are limiting measures that will affect companies, including those in the City of London.
Sir David Tweedie, chairman of the IASB, acknowledged "theoretical arguments" for treating financial liabilities and assets in the same way
However, he stated that it is hard to justify the current approach to reporting as useful when firms suffering "deterioration in credit quality" while posting large profits at the same time, especially when investors complain of missing fiscal information in company models.
The IASB is also leading a drive to introduce uniformity in financial reporting across the world with the International Financial Reporting Standard, which could affect people in accounting jobs.
Currently, the US government has said it will delay a final decision until 2011 on whether its organisations should conform to this method.
Find information on the latest Finance & Accounting jobs at Poolia Recruitment Specialists
Updated: 12 May 2010.
Categories: finance-and-accounting, london, market-and-industry-news.
CIPD gives World Cup absence advice to those in HR jobs
People in HR jobs are being made aware of a new guide to deal with absence management during the forthcoming Fifa World Cup.
During the tournament, a number of football matches will kick-off at either 12:30 BST or 15:00 BST, which could lead to employees taking time off work to view those games.
In particular, at least one England game in the early stages, against Slovenia will begin during the afternoon on June 23rd and an adviser for the Chartered Institute for Personnel and Development (CIPD) John McGurk is alarmed that a number of companies have not got a clear policy to deal with the issue.
A poll by the CIPD revealed that nine out of ten employers had not got a plan to address absences during the sporting event.
Its own guide to absence management recommended introducing flexible working, shift swaps and unpaid leave to help negate the effect on organisations.
Mr McGurk pointed to research that showed firms which embrace its staff's interests tend to have a more loyal workforce.
Find information on the latest Human Resources roles at Poolia Recruitment Specialists
Updated: 12 May 2010.
Categories: human-resources, london, market-and-industry-news.
Brotherton appointed to top financial services job
People in financial services jobs are learning that James Brotherton has been appointed chief financial officer (CFO) of Lupus Capital.
As well as becoming an executive director with the firm's board, he will assume his duties after its annual general meeting on May 28th.
Mr Brotherton joined the building products supplier in 2004 as its head of corporate development and he played a key role in the acquisitions of a number of its rivals including Schlegel in 2006 and Laird Group in 2007.
Prior to joining Lupus, he also occupied senior roles with a number of large banking and financial services companies in the City of London, including at Citigroup as its director of UK investment banking.
He qualified as a chartered accountant at big four firm Ernst & Young.
Meanwhile, people in accounting jobs have been in the news this week with many former industry professionals being elected to parliament after the country's voters went to the polls on Thursday (May 6th).
Find information on the latest Banking & Financial Services jobs at Poolia Recruitment Specialists
Updated: 12 May 2010.
Categories: banking-and-financial-services, finance-and-accounting, london, market-and-industry-news.
People in HR jobs told wellbeing could boost financial return
People in HR jobs are being told that a link has been made between promoting staff wellbeing and increases in shareholder returns on investment.
Business in the Community (BITC) analysed FTSE 100 employers and found companies that addressed health issues of its employees performed ten per cent better financially than those firms that failed to take steps.
The study carried out with pollsters Ipsos Mori revealed that shareholder return is around 61 per cent for organisations that focus on these areas.
Louise Aston, national director of BITC's Business Action on Health Campaign told Personnel Today that companies and people in HR jobs must avoid misunderstanding what is required to improve wellbeing.
She said that it is "not about lettuce leaves and gym membership".
BITC membership includes more than 830 companies across the world, employing around 17.8 million people.
Find information on the latest Human Resources roles at Poolia Recruitment Specialists
Updated: 12 May 2010.
Categories: human-resources, market-and-industry-news.
HR staff told of High Court delay on public service cuts
People in HR jobs are learning that a High Court ruling on civil service severance packages may mean that redundancies are put on hold by the government for the time being.
The intervention of judges yesterday (May 10th) could lead to civil service jobs in Whitehall being given a temporary reprieve, according to one industry expert.
John Read, employment law editor for XpertHR, told Personnel Today that a delay may happen if the government believes it can make changes to the Civil Service Compensation Scheme and get the agreement of public sector unions.
As the publication noted, the original had intended to create £500 million of savings as political leaders look to cut public spending and reduce the UK deficit.
Meanwhile, Recruitment and Employment Confederation chief executive Kevin Green called for the next government to protect the flexible jobs market as well as make innovative public sector reforms.
Find information on the latest Human Resources roles at Poolia Recruitment Specialists
Updated: 12 May 2010.
Categories: human-resources, market-and-industry-news.
Accountants fare well in general election
Parliamentary candidates who have previously held accounting jobs have fared well in the general election.
In total 19 professionals gained or held onto seat in the House of Commons out of more than 50 who stood for the three main parties.
Of those, who did enter parliament for the first time, many were part of a strong Conservative showing in the poll as they fell just short of an overall majority, which has led to much publicised negotiations between themselves and the Liberal Democrats.
The only Tory casualty, who worked in accounting, was David Heathcoat-Amory after being beaten in the Wells constituency.
Accounting Web said its "Accountancy Party" made strong progress and stated it hoped it would to a better business insight within the Commons chamber.
Similarly, Accountancy Age branded it a good election for industry professionals.
Perhaps the most high-profile victor was Vince Cable, a former economist with oil company Shell, who beat Tory candidate Deborah Thomas.
Thomas herself has an Institute of Chartered Accountants in England and Wales qualification, in the Twickenham constituency.
Find information on the latest Finance & Accounting jobs at Poolia Recruitment Specialists
Updated: 12 May 2010.
Categories: .
Roberts hired for top accounting job with Lakeside owner
People in accounting jobs are learning that Matthew Roberts is to become the new finance director of Capital Shopping Centres (CSC).
CSC owns several shopping malls across the UK including four in and around Greater London.
The 46-year-old, a fellow of the Institute of Chartered Accountants in England and Wales, is expected to take up his role on May 17th and will be formally appointed to the company's board on June 3rd.
Mr Roberts formerly held the top accounting job with high-street retailer Debenhams from 1996 until 2003, during which time he ran its international business and property arm.
From there, he went on to become chief financial officer for Gala Coral Group.
In his four years with the company, he led a number of acquisitions including that of bookmakers Coral and the resulting £3 billion debt package created as a result of that deal made the company the largest private equity firm in the UK.
Find information on the latest Finance & Accounting jobs at Poolia Recruitment Specialists
Updated: 12 May 2010.
Categories: finance-and-accounting, market-and-industry-news.
Accounting firm announces strong graduate intake
People in accounting jobs are learning that PricewaterhouseCoopers (PwC) enjoyed its best spring graduate in take season.
The big four firm announced that application rates have jumped 88 per cent in year, with more 2,000 people trying to secure a place with the organisation.
In all, 153 individuals will take part in the early intake training scheme for 2010 and its 22 per cent increase in start numbers for the spring includes 30 consulting posts.
The graduate figures form part of a recruitment drive from the company which is looking to add another 1,000 staff to its payroll during 2010.
Ian Powell, chairman and senior partner of PwC commented that its strategy is not a case of maintaining its numbers but rather a reflection of its ambition to continue growth in the market.
He said it was the company's ambition to attract the best talent across its services, including accounting jobs.
Other members of the big four, so called because of those brands business scope, are KPMG, Ernst and Young and Deloitte.
Find information on the latest Finance & Accounting jobs at Poolia Recruitment Specialists
Updated: 12 May 2010.
Categories: finance-and-accounting, market-and-industry-news.
Dyson leaves top Marks and Spencer accounting job
Ian Dyson has stepped down from the top accounting job with high street retailer Marks and Spencer (M & S) to become chief executive of UK pub group Punch Taverns.
He joined the company as finance director in 2005 and assumed the role of group finance and operations director in 2006.
A press release from M & S stated that Mr Dyson, whose background is in the leisure industry including hotelier Hilton, will depart his position in the organisation's top accounting job on a date that is to be finalised.
The search for his successor has already begun, according to Accountancy Age.
M & S chairman Sir Stuart Rose remarked that he understood the reasons for his resignation as well as the opportunity that lay ahead of him.
Mr Dyson admitted the timing of the announcement is "never perfect" and that he is presented with the chance to put his experience in the sector to good use in managing Punch's 7,100 pubs across the country.
Find information on the latest Finance & Accounting jobs at Poolia Recruitment Specialists
Updated: 12 May 2010.
Categories: finance-and-accounting, market-and-industry-news.
KPMG announces appointments for senior accounting roles
People in accounting jobs are learning that big four firm KPMG has hired Jane McCormick to become its UK head of corporate tax.
The company also announced that Alastair McLeish is to assume the role of UK head of tax pensions from July 1st.
He succeeds Sue Bonney, who will help the firm's drive to integrate more tax solutions within its advisory services having held her former post since 2006.
She will continue as head of tax at KPMG Europe and the UK chief operating officer Richard Bennison praised her efforts in helping to "establish market leading positions".
Mr McLeish joined the big four finance and accounting company in 1994 with a pensions team.
"Alastair has built our highly successful pensions advisory . and has run the rest of our people services business over the last 18 months," Mr Bennison commented.
KPMG employs more than 100,000 partners and staff in its UK operations.
Find information on the latest Finance & Accounting jobs at Poolia Recruitment Specialists
Updated: 10 May 2010.
Categories: finance-and-accounting, market-and-industry-news.
Positive job figures may interest those looking for sales and marketing jobs
People looking sales & marketing jobs may be interested in the latest recruitment figures that have suggested a recovery in the private sector is continuing in the UK.
The Report on Jobs from the Recruitment and Employment Confederation and accounting firm KPMG revealed an increase in the number of permanent and temporary vacancies in the UK in April.
Although the rise in permanent vacancies eased slightly from a record high in February, the report maintained that a fragile recovery was continuing with the private sector boosted in recent months.
However, Bernard Brown, partner and head of business services at KPMG, said that public sector employees appeared to be waking up to the financial reality about to head their way.
Kevin Green, REC chief executive, warned the next government faced a balancing act of stimulating growth while not triggering widespread job losses as it cuts spending.
Mr Green has repeatedly predicted in recent months that public sector difficulties could bring positive recruitment data to a halt.
Find information on the latest Sales & Marketing jobs at Poolia Recruitment Specialists
Updated: 06 May 2010.
Categories: market-and-industry-news, permanent-placement, sales-and-marketing, temporary-staffing.
PwC senior accounting figure calls for debate on audit regulations
People in accounting jobs are being told that the introduction of an international regulator is "worthy of debate".
Last week, EU commissioner for internal markets Michel Barnier suggested that it is the right time for European leaders to discuss the idea of a body, recognised by the world's economies.
Ian Powell, a senior partner at PricewaterhouseCoopers - the UK's largest accountancy firm - called for a "new attitude" to global auditing rules but said that individual tastes may prove a stumbling block.
"Most countries think their regulation is good and it is their system which should be applied - that is going to make it difficult to convince them to give up their system," he added.
But he added that anything that encourages consistency is this area needed to be discussed.
Furthermore, Accountancy Age commented that, in an age of international corporations and auditing firms, it would make sense to have a global regulator.
Find information on the latest Finance & Accounting jobs at Poolia Recruitment Specialists
Updated: 06 May 2010.
Categories: finance-and-accounting, jobs, market-and-industry-news.
IBM boss says HR jobs initiative could help retain talent
People in HR jobs are learning that a global computer manufacturer has launched a new initiative to help its top performing staff to understand a modern context for doing business.
IBM vice-president Stan Litow told Meettheboss.tv that the Corporate Service Corps (CSC) marked the start of a transformation for the organisation, which allowed it to become "more connected" to its business strategy and mission, HR Magazine reports.
Mr Litow claimed that corporate social responsibility and citizenship is linked to a smarter planet and the firm's attitude had boosted its ability to retain its top performers.
He added that a more connected workforce could also help a company navigate a tricker economic climate
Last month, IBM's global head of human capital management Tim Ringo admitted that people in HR jobs with the firm had helped to rescue it from potential collapse in the mid-1990s to its all-time high share price.
Find information on the latest Human Resources roles at Poolia Recruitment Specialists
Updated: 06 May 2010.
Categories: human-resources, jobs, market-and-industry-news.
UBS banking jobs set for London
Banking jobs could be set for London after Swiss financial giant UBS announced it will be exploring opportunities in the capital.
According to the Guardian, the organisation is currently looking to expand its workforce in the UK following improved fortunes after the recession.
The news provider hinted that banking jobs may be available at a new headquarters planned for London, with the organisation currently in talks with British Land over the project.
It follows the financial institution's announcement yesterday (May 4th) that it registered $2 billion (£1.3 billion) profits for the first quarter of 2010.
UBS has offices in more than 50 nations across the world and employs over 64,000 staff members.
Group chief executive officer of the firm Oswald Grubel said: "We implemented the measures announced in 2009 and delivered a good profit while managing our costs and using our balance sheet and risks in a disciplined way."
Find information on the latest Banking & Financial Services jobs at Poolia Recruitment Specialists
Updated: 06 May 2010.
Categories: banking-and-financial-services, market-and-industry-news.
Exams charges dropped for those looking for accounting jobs
Students and members with the Association of Accounting Technicians (AAT) will not be charged for exams they do not need to take.
The ruling from Chartered Institute of Public Finance and Accountancy (CIPFA) said in a statement that the AAT's membership would not encounter charges and that it was the only body to take such measures, Accountancy Age reports.
According to the publication, those sitting examinations between May 1st and September 24 this year may find they save up to £300 each.
AAT members are eligible for exemptions from modules in Financial Accounting, Taxation and Management Accounting should they have passed the association's own relevant tests in those subject areas.
The remaining ten papers from the institute can be completed within two years.
CIPFA has 14,000 professionals affiliated to it, including people working in accounting jobs for major private firms and national audit agencies.
The institute describes itself as a champion for public services as well as using its experience and insight to offer "clear advice and practical services".
Find information on the latest Finance & Accounting jobs at Poolia Recruitment Specialists
Updated: 06 May 2010.
Categories: finance-and-accounting, market-and-industry-news.
Anderson to take top KPMG financial services job
Big four accounting firm KPMG has appointed Jeremy Anderson to its top international financial services job.
He will succeed Brendan Nelson as the chairman of the company's Global Financial Services practice, after the predecessor retired from the role to become a non-executive director at Royal Bank of Scotland Group.
Mr Anderson brings with him more than 20 years of experience in the sector, having worked with many of KPMG's leading clients across Europe, Australia and the US.
Prior to his appointment, he held the position of head of financial services for its Europe, Middle East and Africa region.
He said: "The next few years will be a critical time for the financial services industry as companies navigate significant regulatory, risk and business changes and respond to the rapidly evolving global economy."
The division employs 10,000 partners and professionals, offering tax, auditing and advisory services from its 22 offices in London and across the UK.
Find information on the latest Finance & Accounting jobs at Poolia Recruitment Specialists
Updated: 06 May 2010.
Categories: banking-and-financial-services, finance-and-accounting, market-and-industry-news.
Phoenix Group hires Yates to top accounting job
People in accounting jobs are learning that Jonathan Yates has been appointed as Group Finance Director-designate at asset management company, Phoenix Group.
He succeeds Simon Smith, who resigned as the group's Finance Director (FD), and will take up his position on May 6th.
Mr Yates was formerly chief executive of Life Assurance (LAHC) and its subsidiary Windsor Life between 2004 and 2009, having also been the company's FD from 2002.
During his tenure, he oversaw the acquisition of Barclays Life in 2008 for £750 million and the sale of LAHC to Swiss Re in 2004.
Chairman Ron Sandler is delighted with the appointment and believes the company can continue with its "transformation and position the business for the next phase of its development".
Phoenix has assets of around £67 billion, with 7.6 million policies taken out by its customers and is the largest closed life funds organisation in the UK.
Find information on the latest Finance & Accounting jobs at Poolia Recruitment Specialists
Updated: 04 May 2010.
Categories: finance-and-accounting, market-and-industry-news.
REC seeking feedback on recruiter qualifications
People in HR jobs may be interested in a UK employment body's effort to improve its academic path for recruiters looking to progress their career.
The Recruitment and Employment Confederation's (REC) Academy for Business is currently undertaking a "major review" of its qualifications programme in a bid to develop it as a key tool for industry professionals.
It is seeking feedback from recruiters in an attempt to create a "relevant" and "robust" route to help with furthering individual careers in the sector and that meets a "burgeoning regulatory and business framework", which could interest those in HR jobs.
REC director of professional development Judith Armitage believed the programme, including diplomas, certificate and degrees in recruitment practice, must reflect a fast-moving industry in its evolution.
The confederation has more than 8,000 corporate members, comprising of businesses from various sectors as well as agencies.
In addition, the 6,000 strong membership of the Institute of Recruitment Professionals, including industry consultants, also abides by the REC's Code of Professional Practice.
Find information on the latest Human Resources roles at Poolia Recruitment Specialists
Updated: 04 May 2010.
Categories: human-resources, market-and-industry-news.
Basel head says tax affecting those in banking jobs could hinder progress
People in banking jobs are being told a set of global tax reforms on the sector are "premature".
That is the view of Nout Wellink, chairman of the Basel committee on banking supervision and head of the Dutch central bank.
Mr Wellink told the Financial Times that such a move could be a "hindrance" to efforts to make the system safer through a tightening of capital and liquidity rules.
"I doubt whether this is a good idea. It's born out of frustration. There are strong political motives behind it," he added.
Mr Wellink believed the first step should be to finalise the Basel deal on stricter regulations and capping a bank's assets, then see if an additional measure is required afterwards.
Among the measures proposed by the International Monetary Fund is a flat rate on all institutions as well as tax on bonuses for people in banking jobs and a charge of profits made by a company.
Find information on the latest Banking & Financial Services jobs at Poolia Recruitment Specialists
Updated: 04 May 2010.
Categories: banking-and-financial-services, market-and-industry-news.
Langridge hired to Lombard's top accounting job
People in accounting jobs are learning that Lombard Risk Management has hired Chris Langridge as its new financial director.
It follows a reshuffle in the boardroom, which also sees Phillip Crawford and Mike Shinya join as directors of the trading software company and John Wisbey become chief executive.
Mr Langridge has worked for several alternative investment market companies and spent a number of years in the US and Hong Kong, having gained his accountancy qualifications at big four firm Ernst & Young.
He has worked with RCapital recently, chairing a number of its investee companies including Herald Electronics, Accountancy Age reports.
The new chief executive said of Mr Langridge that he brings "heavyweight experience" and the ability to achieve growth while running an efficient operation.
Mr Wisbey added: "We face very exciting opportunities as a firm as well as various challenges and we now have a highly talented and capable board."
Updated: 04 May 2010.
Categories: finance-and-accounting, market-and-industry-news.
NIESR warns of tax hikes
People in accounting jobs are being told that income tax must be increased by 6p in the pound.
That is the view of the National Institute of Economic and Social Research (NIESR), which believes that if the government borrowing is to drop beneath three per cent, then "further fiscal retrenchment" has to happen.
NIESR also suggested that VAT receipts are likely to be held back by more people saving and weaker consumption and that is why it proposes a zero rate on all goods except children's clothes and food.
The body said that it could take at least another £15 billion of spending cuts to fix public finances in the UK.
Last week, the Chartered Institute for Personnel and Development predicted that as many 500,000 jobs could go in the public sector in the coming years.
This appears to be supported by its own figures from the Labour Market Outlook.
In its latest data, despite a more positive overall forecast, the general feeling was that the private sector was responsible for the positivity and the public sector was slowing down.
Updated: 04 May 2010.
Categories: finance-and-accounting, market-and-industry-news.
Taxation body indicates errors at HMRC
People in financial services jobs may be interested to learn that a UK taxation body is calling on members to report any mistakes it sees in the new tax codes introduced by HM Revenue and Customs (HMRC).
The Chartered Institute of Taxation (CIOT) has stated that since the new rules have come in, a number of issues have arisen.
The CIOT, which represents 15,000 members in the UK, contracted the Revenue and HMRC admitted to some problems with its new system.
Members had contacted the organisation over problems with pay as you earn (PAYE), which could affect employers and contractors.
It may be possible that people in accounting jobs who have PAYE clients on their books could have extra issues to deal with thanks to the new tax codes.
Pensioners' tax codes have also been a concern, with some members mentioning instances of state pension either omitted or the wrong amount put on a tax bill.
Updated: 04 May 2010.
Categories: finance-and-accounting, london, market-and-industry-news.
Barclays records positive showing in first quarter
People in banking jobs are learning that Barclays showed strong growth during the first quarter of 2010.
The group's chief executive John Varley expressed his delight with the results and claimed that diversification of risk and its business operations helped to produce this outcome.
He said: "The improvement that we have seen in impairment reflects the signs of economic recovery now evident in many of the markets in which we operate."
Pre-tax profits for the bank's retail operations rose by 20 per cent to £238 million.
Barclays employs over 144,000 people in 50 countries, including a substantial number in London.
This positive news follows comments from Sir Phillip Hampton, chairman of Royal Bank of Scotland (RBS), who commented that pay for people in banking jobs is very high.
But a statement from RBS said that it had to strike a balance over salaries to avoid making its most talented staff feel disadvantaged compared to rival companies in the sector.
Updated: 04 May 2010.
Categories: banking-and-financial-services, london, market-and-industry-news.
IASB proposes new accounting rules for pensions
People in accounting jobs may be interested by proposals to introduce new rules forcing organisations to disclose their pension liabilities.
The International Accounting Standards Board (IASB) unveiled draft rules which could mean company pensions have an impact on profits and make accounting more consistent and transparent.
IASB chairman Sir David Tweedie said that the proposals "will significantly improve the transparency and comparability of pension obligations" and suggested that a global pensions overhaul is "long overdue".
After seeking feedback from "interested parties", the international board's aim is to publish a final standard in 2011.
The IASB has also been pushing for a universal method for financial reporting aimed at making interpreting fiscal statements easier for people in accounting jobs in different countries.
It is yet to have the backing of the US financial authorities, which have delayed their decision about whether American companies should adopt the International Financial Reporting Standard or not.
Updated: 04 May 2010.
Categories: finance-and-accounting, market-and-industry-news.
