Talent war
Another week, another poaching. Top banking analysts are in high demand, and they're winning bigger pay packets as a result.
When you have a limited pool of people available to fulfil a key role in a highly remunerated business that carries immense kudos in the most valuable sector of the market, you have all the ingredients for a talent war.
It's remarkable then that there has been such stability in the ranks of Australian bank analysts for more than a decade, given they parlay five of the top 10 stocks on the ASX. And those stocks have been on a massive bull run for more than a year.
But two stories broken by Capital Brief this week — read them here and here — show that run of stability is well and truly over.
With hindsight, Macquarie Research’s poaching of Carlos Cacho from Jarden in September — also revealed by Capital Brief — was the spark, although at the time many just wondered what it meant for the incumbent, Victor German.
