Gulf banks’ growth boosts demand for top staff
Dubai, June 21, 2012
The significant increase in the number of Gulf based banks looking to expand their operations across Europe and Mena has given rise to an increase in the demand for senior talent, said an expert.
“Over the last six months we have been working closely with a number of our regional clients to assist them in attracting leaders to develop and implement their defined strategy across both Europe and other parts of the Mena region,” said André Nasr, the CEO of Stormbridge International, a leading human capital advisory firm based in London and the UAE, which specialises in CEO and country head positions with Mena based banks.
“London and Paris in particular remain attractive locations and hubs for our clients who wish to develop or enhance their operations in both the UK and Europe.”
With the current situation facing the Eurozone and the continued impact of the global recession a number of well-known names from Qatar, Bahrain and the UAE are clamouring to secure new leadership and increase their overall headcount in Europe, according to André.
He said: “During this time of uncertainly in the Eurozone there are also a number of opportunities that exist for organisations with the power and ambition to grow their business in Europe and we have been active on a number of projects across both London and Paris since the start of the year.”
A number of the major banks in the region are also expanding their operations across other parts of the Mena region.
“Turkey, Libya and Iraq remain attractive opportunities for our clients provided that they can attract the right profile of leader to assist them in establishing a presence in these countries which still face challenges both politically and economically,” André added.
There has also been a noticeable increase in the number of Gulf institutions who are re-organising their senior management team in the region, he said.
André continued: “Bahrain is an example of the current transition that a number of regions are experiencing. Our team is currently engaged on a number of leadership assignments for clients across the region that are looking to develop and implement a new strategy following the recent economic and social challenges; this has driven demand for experienced leadership who are able to drive the next phase of stability and growth.”
“There are still significant challenges ahead for Mena based organisations both regionally and internationally, however with a number of banks reporting a rise in performance the signs are more encouraging and these organisations are rightly continuing to show a high degree of caution when attracting senior talent,” André concluded. – TradeArabia News Service