Where Australia's Big 4 Banks Are Recruiting Staff From And How It Reflects Their Priorities

Job interview: Shutterstock

Australia’s big 4 banks – Commonwealth Bank, ANZ, Westpac and National Australia Bank – are some of the biggest employers in the nation and between them field hundreds of job applications a week.

According to the companies’ LinkedIn pages, applicants with previous experience within the big 4 or large finance sector competitors like Citi, HSBC and Macquarie Group are most likely to be hired.

IBM and Telstra also appear to have produced significant numbers of big 4-ready staff, although numbers could be skewed by the fact that LinkedIn tends to appeal to tech-savvy users.

Here are the top 4 previous employers of staff from Australia’s top 4 banks, based on LinkedIn company insights:

Commonwealth Bank of Australia

CommBank has a global headcount of 45,000, of whom 15,030 are listed on LinkedIn.

Of the big 4, CommBank is known to have invested most heavily in technology, with its 5000-person IT division completing a massive, billion-dollar core banking systems upgrade last year.

CommBank CEO Ian Narev and CIO Michael Harte have consistently highlighted tech firms like Apple and Google as competitors – a priority that is reflected in how tech giant IBM is the 4th largest ex-employer of CommBank staff.

Others CommBank staff tend to have come from Westpac, NAB, Macquarie Group, ANZ, Telstra, PwC and AMP.

ANZ

ANZ has a global headcount of 48,000, of whom 17,033 are listed on LinkedIn.

Since 2007, CEO Mike Smith has led the bank on a “super-regional strategy”, for which it hopes to make 25%-30% of profits from overseas business by 2017.

ANZ’s offshore focus is reflected in how it has recruited significant numbers of staff from overseas banks HSBC and Citi.

The bank also sees tech giants as “terrifying” new competitors. Telecommunications giant Telstra has produced the second most ANZ staff according to LinkedIn data.

National Australia Bank

NAB has a global headcount of 43,000, of whom 14,777 are listed on LinkedIn.

The top 4 ex-employers of NAB staff are all Australian giants; other common former employers include IBM, PwC, Accenture, GE Capital and E&Y.

Westpac

Westpac – Australia’s first bank – employs a total of 36,000 people, of whom 10,255 are listed on LinkedIn.

Many of Westpac’s employees joined through subsidiaries BT Financial and St George, which it acquired in 2002 and 2008 respectively. Other common former employers include CommBank, NAB, Macquarie Group, ANZ, IBM, AMP, Telstra and Optus.

Westpac has been focused on improving productivity and simplifying its product range under 5-year series of Strategic Investment Priorities (SIPs) introduced by CEO Gail Kelly in 2009.

CIMB analysts reported in January that Westpac had the lowest cost-to-income ratio of the big 4 banks in 2012.

Now read: Who Really Uses LinkedIn?

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