Pockets of Opportunity for Investment Banking Jobs

Despite the headlines on executive pay cuts and headcount reductions, there are still a few areas where banks are looking to beef up their business and even add investment banking jobs.

One area is risk management, which will become a bigger priority for banks worldwide as they adapt to new and tougher financial regulations, reports the Financial Times.

In the UK, that means adapting to banking reforms introduced by Sir John Vickers’ Independent Commission on Banking. In the U.S., banks are already dealing with the repercussions of the so-called Volcker bill.

But on the job-search side, this means people who specialize in or have knowledge of liquidity risk will be in demand. So will those looking to fill internal audit and compliance roles.

In investment banking, some areas will still continue to grow in spite of widespread job cuts elsewhere. “We are likely to see demand rise within high-yield and investment grade fixed income teams across asset management as a result of current credit events,” according to Kay Senior, a director at recruitment consultant Badenoch and Clark.

There will also be greater demand for IT and digital media specialists, as the banks roll out new platforms to support mobile banking and trading services.

And lest you think all the bad news has scared off young people from working in banking, think again. Barclays CEO Bob Diamond told Bloomberg that in 2010, 107,000 university students sent in applications for jobs a Barclays. The number of positions open? Just 1,500.

“So there’s still a lot of people who want to come into the financial services industry, particularly for organizations such as Barclays that have a diversified set of businesses that are very focused on their clients and growing the business” said Diamond, as quoted in HereistheCity.

What about you? Are you as enthusiastic about pursuing an investment banking career today as you were, say, 12 months ago? Add your comments below.

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