Deep Dive Analysis: Top 3 Global Finance Companies, Dec 2021 – Nov 2023
Part 2 of 3: Senior moves by region
In part one of this deep dive analysis report, we looked at the number of senior level moves at the three global finance companies that saw the highest number of moves in 2023. These were UBS, Barclays, and Citi.
Interestingly, in part one we saw the majority of inbound senior talent came from Credit Suisse. However, we also saw that 48% of moves in August 2023 were actually promotions, while only 43% were hires from outside organisations, suggesting a strong focus on succession planning last year.
In part two we focus on analysing

<div><strong>Deep Dive Analysis: Top 3 Global Finance Companies, Dec 2021 – Nov 2023</strong></div>
<div><strong>Part 2 of 3: Senior moves by region</strong></div>
<div>In part one of this deep dive analysis report, we looked at the number of senior level moves at the three global finance companies that saw the highest number of moves in 2023. These were UBS, Barclays, and Citi.</div>
<div>Interestingly, in part one we saw the majority of inbound senior talent came from Credit Suisse. However, we also saw that 48% of moves in August 2023 were actually promotions, while only 43% were hires from outside organisations, suggesting a strong focus on succession planning last year.</div>
<div>In part two we focus on analysing senior moves by region.</div>
<div><strong>Senior moves at top 3 finance companies by region, 2023</strong></div>
<div><iframe id="datawrapper-chart-vt97t" style="border: none;" title="Senior Moves trend breakdown by region 2023" src="https://datawrapper.dwcdn.net/vt97t/2/" width="856" height="301" frameborder="0" scrolling="no" aria-label="Interactive line chart" data-external="1"></iframe></div>
<div>This chart shows that the vast majority of moves in August 2023 were in the APAC region rather than the Americas, which is where most senior level moves usually take place in this sector. Indeed, we can see that the US market saw more activity from June onwards, peaking in September. When added to the statistics in part one of this report showing that 48% of August appointments were promotions, this suggests a high number of promotions taking place in APAC at these three companies in August, with outside hiring potentially dominated by the US talent market.</div>
<div><strong>Move type break down by Region 2023</strong></div>
<div><iframe id="datawrapper-chart-oX07F" style="border: none;" title="Move type breakdown by Region 2023 Barclays" src="https://datawrapper.dwcdn.net/oX07F/3/" width="856" height="433" frameborder="0" scrolling="no" aria-label="Stacked Columns" data-external="1"></iframe></div>
<div>Indeed, the chart above suggests strongly that North America saw more hires, with promotions being less of a factor there at UBS. That said, Barclays saw a high proportion of promotions in North America. This is likely due to Barclays’ appointments being more dominated by the US across the board that the other two firms.</div>
<div><strong>Region breakdown by move type</strong></div>
<div><iframe id="datawrapper-chart-lpb5A" style="border: none;" title="Move type breakdown by Region 2023 Barclays (Copy)" src="https://datawrapper.dwcdn.net/lpb5A/1/" width="856" height="433" frameborder="0" scrolling="no" aria-label="Stacked Columns" data-external="1"></iframe></div>
<div>Looking at the data broken down differently in the charts above, we can see more clearly that Citi is the firm with the strongest culture of internal talent development, with 50% or more of appointments in every region being promotions. Similarly, we can also see clearly that the majority of promotions for each firm happened in APAC in 2023 – even Barclays, which has the lowest proportion of promotions of the three.</div>
<div><strong>Advancing Regionally: Senior Moves in Top 3 Companies</strong></div>
<div><iframe id="datawrapper-chart-tJmK4" style="border: none;" title="Advancing Regionally: Senior Moves in Top 3 Companies " src="https://datawrapper.dwcdn.net/tJmK4/3/" width="856" height="400" frameborder="0" scrolling="no" aria-label="Stacked Columns" data-external="1"></iframe></div>
<div><iframe id="datawrapper-chart-P21rF" style="border: none;" title="Advancing Regionally: Senior Moves in Top 3 Companies" src="https://datawrapper.dwcdn.net/P21rF/2/" width="856" height="400" frameborder="0" scrolling="no" aria-label="Stacked Columns" data-external="1"></iframe></div>
<div>Looking again at the regions, we see that in 2023, the America was the dominant region most months, with the exceptions of December 2022, February 2023, and – most notably – August 2023. The talent market for these three firms was almost entirely dominated by APAC in 2022. This all suggests the extent to which UBS, Barclays, and Citi are all reliant on the US market for talent overall. Put another way, when the US market is sluggish, their appointment numbers are low.</div>
<div>Looking at reasons for this, it seems that these three firms all instituted an informal hiring freeze in 2022 due to economic instability. The fact that this restriction loosened somewhat in 2023 is partly down to the influx of senior talent from the collapse of Credit Suisse early in the year. That said, the column in August 2023 shows very clearly that two thirds (66.67%) of appointments that month were in APAC.</div>
<div><strong>Senior Hires / Departures breakdown by Region 2023</strong></div>
<div><iframe id="datawrapper-chart-hVaYZ" style="border: none;" title="Senior Hires / Departures breakdown by Region 2023" src="https://datawrapper.dwcdn.net/hVaYZ/2/" width="856" height="229" frameborder="0" scrolling="no" aria-label="Table" data-external="1"></iframe></div>
<div><strong>Hires vs promotions by company in 2023</strong></div>
<div><strong>Hire vs promotions at UBS</strong></div>
<div><iframe id="datawrapper-chart-pMTK8" style="border: none;" title="UBS Promotions" src="https://datawrapper.dwcdn.net/pMTK8/3/" width="856" height="504" frameborder="0" scrolling="no" aria-label="Map" data-external="1"></iframe></div>
<div>The above chart shows that, on the whole, UBS hires more senior talent in the US than it promotes, while the opposite is true in EMEA and APAC. On the one hand, this shows that the US talent market is much more dynamic and more competitive than other regions. It also suggests that UBS’ succession planning may be stronger in other regions than the Americas, even if that’s due to necessity.  </div>
<div><strong>Hire vs promotions at Barclays</strong></div>
<div><iframe id="datawrapper-chart-6Aq4g" style="border: none;" title="Barclays Hires" src="https://datawrapper.dwcdn.net/6Aq4g/2/" width="856" height="520" frameborder="0" scrolling="no" aria-label="Map" data-external="1"></iframe></div>
<div>This map clarifies the extent to which Barclays appears to be more dependent on external hires for its senior level appointments than the other two companies in this analysis.</div>
<div><strong>Hire vs promotions at Citi</strong></div>
<div><iframe id="datawrapper-chart-4bpce" style="border: none;" title="Citi Hires" src="https://datawrapper.dwcdn.net/4bpce/2/" width="856" height="511" frameborder="0" scrolling="no" aria-label="Map" data-external="1"></iframe></div>
<div>The Citi hires vs promotions map is remarkable in just how clear it shows how keen Citi is on developing internal talent. That fact that the number of US hires is not far off the number of US promotions suggests even more strongly the degree to which the US talent market is more dynamic and competitive than other markets.</div>

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Global Finance Talent Landscape 2023: Regional Insights into Senior Moves at UBS, Barclays, and Citi

Global Finance Talent Landscape 2023: Regional Insights into Senior Moves at UBS, Barclays, and Citi

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