Look North for Investment Banking Jobs

Switzerland’s biggest bank may increase its investment banking staff by as much as 10 percent in the next two years. But not in Switzerland. Rather, they aim to staff up in Canada, reports Bloomberg. All told, more than 700 investment bankers, traders and analysts have been hired this year in North America by UBS as well as Canadian-owned banks such as Royal Bank of Canada and Bank of Montreal, which owns mid-market investment bank, BMO Capital Markets, in Chicago and New York.

 The move comes during a period of relative stability in the banking industry in Canada. Canada is also bolstered by a strong commodities market. While big banks such as Zurich-based UBS cut thousands of jobs during the downturn, they have since announced plans to hire internationally, and their Canadian arm is ahead of the pack in hiring.

Canadian banks have been able to snap up seasoned pros and experienced bankers from such U.S. firms as Goldman Sachs and Citigroup.

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