insto - Australian financial markets

After a GFC-induced hibernation, a recent industry report predicts strong demand for property specialists during the third quarter as a result of increased investment.

Banks are poaching more staff from the Big Four accountancy firms in Australia, but they face strong competition from the corporate sector.

Suncorp Life has recently announced big plans to double the size of its business in the next three years, however it’s unlikely this will translate immediately into many more jobs for life insurance specialists.

In a sector as fast paced as finance, it is no surprise that higher education is also changing rapidly, and some universities are developing unique initiatives to ensure that the next generation of finance professionals will be pushing the industry to new heights.

New Australian Bankers’ Association head Steven Munchenberg has been very restrained in his comments since his appointment was announced, but that may be because he is still under contract to his outgoing employer, the NAB.

The Australian-based Investec Global Aircraft Fund, managed by Investec Capital Markets, has appointed ex-Qantas senior executive John Borghetti to join its investment committee, which now has six members. Borghetti had 36 years experience with Qantas where he held the position of executive general manager before leaving in mid-2009. IGAF currently has seven aircraft with a total value in excess of US$500 million and is currently undergoing a second capital raising.

The Australian-based Investec Global Aircraft Fund, managed by Investec Capital Markets, has appointed ex-Qantas senior executive John Borghetti to join its investment committee, which now has six members.

Borghetti had 36 years experience with Qantas where he held the position of executive general manager before leaving in mid-2009.

“We believe John will bring a unique ability to provide insight into the operating capability of the airline counterparties that we are considering leasing to,” said David Phillips, IGAF executive.

Former UBS fixed income head joins CommBank: CBA has appointed Simon Maidment, former UBS head of fixed income, as head of group funding and execution, financial services, based in Sydney. Maidment, who is to commence his role in early February, will report directly to Lyn Cobley, group treasurer. He worked for UBS for 17 years, and resigned in 2008 from heading up the bank's fixed income operations. He was replaced at UBS by Grant Lovett.

The September Ambition Finance Jobs Index shows an improvement in positions available for the first time in twelve months; a key indicator of returning confidence to the Australian economy.

Stability is returning to the institutional finance recruitment market with the current hot areas of demand being for strong risk and compliance people, along with continued demand for project management and change management candidates.

Gone are the days of the talent shortage. Now there is a surplus of good candidates in the market, changing the balance of power – but the Government's boost to the bonds market means the search for good bankers has already re-started, reports Alexandra Cain.