More Wall Streeters head abroad
Is it time to volunteer to go overseas? It might not be a bad idea, though the thought of uprooting your family for the Middle East or Latin America might not strike everyone as a great adventure. The New York Times reports that banks are moving more employees abroad, including top executives, in a bid to build-up overseas units quickly and retain key managers. Headhunters also report a lot more placements abroad. In the first half of 2007, only 10 of Morgan Stanley's managing directors were transferred to other countries. This year, that number has risen to 33. Stephen Roach relocated to Hong Kong to become chairman of the bank's Asia operations. Owen Thomas moved there to be chief executive. Five executives were sent to Dubai from London. The Times notes that some relocations in general can be "less than voluntary." Do you have an language skills?
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