Dubai, Abu Dhabi among top 5 cities for finance graduates

Dubai - New York ranked as the top global destination, followed by Dubai, by graduates

Dubai and Abu Dhabi are among the top five cities for young professionals seeking a career in finance, graduates who successfully completed the deVere Group's flagship graduate programme have revealed.
On passing the intensive scheme, deVere Group routinely asks graduates in which location within the group's global network of more than 70 offices they would like to start their international financial services career. This year, 34 per cent of the graduates chose New York as the number one global destination, followed by Dubai with 23 per cent of the vote.
Hong Kong came in third at 17 per cent; followed by Sydney at 13 per cent; and Abu Dhabi came in fifth at seven per cent. The remaining six per cent is made up of other destinations including Shanghai, Cape Town, Geneva, Paris, Barcelona, and London.
"The order of the top five destinations changes with each group of graduates we take on, but New York, Dubai, Hong Kong, Sydney, and Abu Dhabi are typically in the top 10 somewhere," said Nigel Green, deVere Group CEO and founder. "It is perhaps unsurprising that these destinations would make the top five for young, ambitious individuals about to embark on a career as an international wealth-advisory professional, as they are all global hubs of finance and commerce."
Green also noted that there are some common traits amongst these cities, including the fact that English is commonly spoken; the destinations are politically and economically stable; there is a high level of international high net worth individuals; and that by relocating to these places one can usually expect comparatively high financial rewards. "Whilst there are some shared themes, these destinations are also quite different from each other in terms of the lifestyle they offer and in terms of clients' expectations, economic environments and regulatory conditions," he added. "With each of the top five destinations offering unique opportunities and challenges, each one attracts graduates who have often quite markedly different strengths and weaknesses, skill sets and aspirations."
DeVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients. It has a network of more than 70 offices across the world, over 80,000 clients and $10 billion under advisement. Green explained that the 18 month deVere Group Graduate Programme's training begins at the Malta administration and support office, and graduates are then given the choice to attend an international deVere Academy, before full-time relocation when they start work.
"The results of this survey suggest that the scope of our graduate programme is sufficiently broad yet detailed enough to highlight the various global opportunities," Green noted.
"But more importantly, it suggests that the international financial services industry itself is able to appeal to a wide range of talented young people who seek a highly rewarding career. Whilst in training, graduates will be working with international high net worth clients, alongside some of our most successful consultants, to benefit from real, hands-on experience."
- rohma@khaleejtimes.com