Despite recent financial uncertainties, there’s good news for the banking industry in Massachusetts and South Florida.
In Massachusetts, the Pennsylvania-based Sovereign Bank has announced it will be moving its headquarters to Boston, a move that’s expected to create more jobs for the region in the future.
The Boston Globe reports the company does not expect to increase its local workforce immediately, but could help reestablish the city as a banking hub. Boston has not been home to any retail banking institutions since 2004, when FleetBoston was bought out by Bank of America.
Meanwhile, in South Florida, finance jobs are beginning to make a rebound in private sector services.
Miami Today reports that industries adding jobs in the area include commercial lending, residential real estate, trade finance and private company wealth management.
Financial recruitment expert Dennis Nason told the news agency the demand for advisors and compliance specialists is also on the rise.
“As you’re managing a lot of money for these big corporations, even in banks, you need to be able to use better measuring tools and invest down to the last dollar,” he said “How you invest in the market, it’s a very difficult thing,” Nason added.