Banking giant Investec will slash 210 jobs from its London HQ

a man wearing a suit and tie: MailOnline logo

© Provided by Daily Mail
MailOnline logo

Banking giant Investec has confirmed plans to axe 210 jobs from its London headquarters amid a ‘challenging economic backdrop’.

The firm said it will slash around 13 per cent of roles in the capital in order to help ‘simplify and focus the business’ amid the pandemic. 

Investec added its performance in the five months to August 31 was impacted by lower average interest rates, reduced client activity and a 22 per cent depreciation of the South African rand against the pound.   

Fani Titi, chief executive of Investec, said severe contractions in GDP and volatile international markets pressed down on revenues during this turbulent period.

However, he added that the business had ‘proved resilient’ despite the impact of lockdown in the first quarter before economies slowly started to reopen.

A spokesman added: ‘The strategy was set prior to Covid-19 but the crisis has also

Read More

Nomura Cuts Dubai Banking Jobs in Mideast Coverage Shift

(Bloomberg) —

a large tall tower with a clock on the side of a building: The Nomura Holdings Inc. logo is displayed outside a Nomura Securities Co. branch in Tokyo, Japan.

© Photographer: TORU HANAI
The Nomura Holdings Inc. logo is displayed outside a Nomura Securities Co. branch in Tokyo, Japan.

Nomura Holdings Inc. eliminated about a half dozen investment banking jobs in Dubai, as Japan’s biggest brokerage shrinks its Middle East footprint and moves coverage of the region to staff in other offices.


Load Error

The Tokyo-based firm made the cuts in recent weeks, and will now serve Middle Eastern clients from cities where it has bigger operations, such as London, people with knowledge of the matter said. Its asset management and global markets divisions will keep their on-the-ground presence, the people said, asking not to be identified because the information is private.

Nomura has been overhauling its global wholesale business since April last year in a bid to save $1 billion in costs and sustain profitability abroad. New Chief Executive Officer Kentaro Okuda has persisted with those

Read More

The Shahani Group announces launch of Banking Skills Development Initiative | India Education,Education News India,Education News

Mumbai: The Shahani Group, one of India’s leading groups of educational institutions, in association with the Sindhi Chamber of commerce, has tied up with the Nanaji Deshmukh Foundation and Atal Seva Kendra, to launch the Banking Skills Development Initiative. The institute aims to provide employment for 1,000 young professionals in the first phase, which will then be extended to 5,000 professionals in the second phase. In recognition of the project by Ask.Careers, the Banking Skills Development Initiative was launched by Mr. Devendra Fadnavis, Former Chief Minister of Maharashtra.

The Banking Skills Development Initiative will impart training to fresh graduates and final year students, to improve their employability for banks and financial institutions. Under this programme, students will be trained for a period of 1 month (to be conducted online), following a preliminary selection test. Upon completion of the course, they will be provided with the opportunity for white-collar jobs with

Read More