September 2008

CUSTODY 2008: CACEIS View from the Top

longree.jpgJosé-Benjamin Longrée

managing director

CACEIS Bank Luxembourg

 

The global banking sector is still experiencing tough times as the effects of the sub-prime crisis drag on. Investment and custodian banks have tightened their budget belts but are likely to feel the pinch elsewhere as a war for talent becomes increasingly hard fought. Hedge funds and private equity firms have weathered the recent financial turmoil better than most and have started to poach talented individuals from the banks, a trend which could open the floodgates for a stream of talent away from the banks.

 

Therefore, for banks, recruitment and retention of talented individuals is viewed as a real strategic priority.