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Old 08-15-2013, 01:34 PM
 
Location: dubai
3 posts, read 5,259 times
Reputation: 10

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I work as Senior Wealth Manager for an American bank based in Dubai. I have extensive work experience in wealth management/ private banking( 5 years in India and 6 years in Dubai dealing across multiple nationalities ). I am planning to move to Toronto along with my family(wife and kid) and am curious to know about the scope of banking jobs in Toronto. I plan to settle in Toronto for now but am flexible enough to change location (within Canada) for better prospects. I would appreciate if somebody can guide me on how to scout for suitable jobs in this segment and what to expect in terms of compensation/ profile as a beginner in Canada.
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Old 08-15-2013, 01:42 PM
 
10,847 posts, read 13,486,893 times
Reputation: 7828
First of all, when it comes to finance jobs, you choose Toronto and nothing else. There is no better prospects in other Canadian cities.

the big 5 banks pretty much dominate the banking/financial services sector, so it is not like you have a lot of options. And Canadian banks are notorious for requiring "Canadian experience" when hiring someone, and your previous experience let it be in Germany or Dubai will be discounted heavily for them. Also, they don't pay that well either.

maybe you can try those pension funds such as CPP or Teachers'. They are much better.
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Old 08-15-2013, 03:32 PM
 
Location: Stasis
15,833 posts, read 11,744,955 times
Reputation: 8590
Your international experience and fluency in other languages will help. Your lack of knowledge about Canadian securities and Canadian financial markets will hurt. You will have to pass the Canadian Securities course and likely get other Canadian credentials before being licensed to sell investments, mutual funds etc....

Canadian Securities Course - Wikipedia, the free encyclopedia
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Old 08-15-2013, 03:50 PM
 
1,217 posts, read 2,440,393 times
Reputation: 1352
Isn't Wealth management about serving high net worth individuals? If that's the case, then you will need to build a network of high net worth clients to move up the ranks in this field. Given that you will be coming to Canada with no connections, foreign education (unless you went to an elite US/UK institution), and don't command deep knowledge of local markets, tax laws, securities etc. then this will be challenging. After meeting people in this field, it does seem like bit of local, country-club like atmosphere and there are only so many reputable firms here. I'm not saying it can't be done but you'll have to hustle to knock on doors and if you do get in somewhere, you might have to take a step down before moving up. If you can somehow tailor your experience to serve a niche market then you might pull something off but again, you'll have work to find this. Maybe you can do an international transfer as well, that would be the easiest if you can pull that off.
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Old 08-16-2013, 05:52 AM
 
1,636 posts, read 2,536,923 times
Reputation: 559
Two words: bay street.
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Old 08-26-2013, 01:43 AM
 
Location: dubai
3 posts, read 5,259 times
Reputation: 10
Thank you. its really been insightful. My husband has come to know that he can pass Canadian securities exam here in Dubai only. Once again thank you.
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Old 12-14-2013, 09:43 AM
 
6 posts, read 16,389 times
Reputation: 10
Have you found any job of finance in Toronto?I am seeking for finance job too. Hope to communicate.
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