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"A closer look clarifies that lay-offs at banks are only minor job cuts and they happen mostly in investment banking. Even those financial institutions which are mentioned in the press, continue to hire."
He expects the market to shift from speed recruitment to a new search for quality.
Private Banking and Islamic Banking are still in need of candidates who choose the Middle East for a long-term perspective. But: "Dubai's banks do not seek managers who escape' from bad labor market conditions in Europe or North America," Hofer points out. "The key to a successful career in the Middle East is commitment, cultural and social competences," says his wife Cécile Hofer, Managing Partner, who worked several years in Saudi-Arabia.
"We established well in Dubai's high-end executive search market and expand our operations to Abu Dhabi, Bahrain and Qatar in 2009," Mr. Hofer explains. Qatar's economy is expected to grow at 10.3 per cent in 2009, according to Samba Financial Group.
A leading Swiss executive search firm, Taylor Hofer runs branches in Zurich, Dubai, Johannesburg, Perth (Australia) and Singapore.
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Posted by Rana Mesbah
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