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28 March 2024

Dubai financial firm to hire 300

Published
By Waheed Abbas

Dubai-based Compass Financial Solutions, which provides wealth management solutions and insurance services, aims to triple its workforce in the UAE from 100 to over 400 in the next three years, a senior official has said

“We have around 102 people plus there are freelancers. In the next three years, the target is to have 400 staff,” said GF Nihalani, Managing Director of the firm

“We started with four people and now we have over 100 people. Last year, our turnover crossed Dh50 million, and we are heading towards Dh100m this year.”

Despite the fact that survey results show that residents find banking and finance as the second most attractive profession, Nihalani believes that finding the right talent is an uphill task in the local market.

Commenting about the availability of the skilled staff for the insurance industry in the UAE, Nihalani said the industry is facing dearth of skilled staff in the UAE and most of employees have to be imported from Asian countries.

According to a recent survey conducted by jobs portal Bayt.com and research firm YouGov, UAE respondents believe that the most attractive industries in the country, those that are retaining the top talent, are construction (39 per cent) and banking and finance (39 per cent), followed by oil, gas and petrochemicals (35 per cent).

With the recovery of the overall UAE economy, companies in the emirate are expanding their teams by recruiting new employees mainly sales and marketing.

A survey by Bayt.com and YouGov said on Monday that 44 per cent of companies in the UAE are definitely hiring in the coming three months. Of these, 64 per cent will be looking to hire up to up to 10 people, mostly for junior executive positions, the survey noted.