I guess bank executives have nothing better to do these days than brag about their size. The banks seems to be caught in a "size matters" philosophy and everyone is sprouting how many people they plan to hire in the near future.....as if it means that the more people they say they can take on, means the better/stronger their business is. Note I wrote "plan to hire" which is not the same thing as actually hiring. Is any one impressed by this propaganda? Will the regulators not grant you a license if your business plan doesn't include hiring a thousand bankers? It's so comical when we all know that their supposed hiring targets are so-out-of-whack with reality.
http://www.vrl-financial-news.com/wealth-management/private-banker-intl/issues/pbi-2010/pbi-264/julius-baer-aims-to-double-sta.aspx
Swiss private bank Julius Baer is to double staff numbers in Asia in an attempt to deepen its market penetration in the region.
Boris Collardi, chief executive of the 120-year old bank, said growth in emerging markets will help the “investment universe” get richer and will relentlessly improve” its client-centric business model.
It is planning a Hong Kong booking office by the end of 2010, as well as a representative office in Shanghai and a trust company in Singapore by next year.
Singapore and Hong Kong were identified as key gateways to the bank’s increased presence in Asia, where the bank employs 400 people accounting for 10% of its total staff.
It should be no secret that JB did try to set up a trust company in Singapore a few years ago but that got canned presumably by the GFC. So its seems they are back on track.
However, if you gander at their careers section (http://www.juliusbaer.com/htm/691/en/Job-opportunities.htm), all I can see is 1 measly opportunity in Singapore. I guess the other 399 jobs are being filled by headhunters or did someone not get Boris' memo?
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