ASX purchase could shake up IT jobs

Singapore's proposed acquisition of the Australian stock exchange (ASX) may move some IT jobs overseas, recruitment firm Robert Walters predicted.

The firm this week published its Q3 IT recruitment market report, which identified "heightened levels of competition" for IT professionals in financial services.

Citing increased demand for technologists from Australia's major banks, the firm found an undersupply of business analysts, test analysts and project managers.

Robert Walters Associate IT Director Peter Bateson said the local demand for business analysts and project managers would likely grow should the ASX-SGX merger proceed.

"The merger and growth opportunities it presents will have a knock-on effect of companies needing to take on more IT staff," he told iTnews.

"I think it will be a good thing for Australia as a whole," he said, noting that ASX-listed companies could attract more investors, post-merger.

Meanwhile, local financial companies could offshore development and testing work to Singapore as it established itself as Asia's trading hub, Bateson said.

Candidates with trading platform skills could also be lured overseas by more interesting work and tax benefits, he said, although effects of a merger were unlikely to materialise for months.

The merger was subject to Government approval. Australian Greens Leader Senator Bob Brown today said the Greens would not support the move unless benefits could be clearly proven.

"We want to know what the impact will be not only on the Australian market and shareholders but also superannuation accounts and financial service and other workers, and on sovereignty," he said.

Results of Robert Walters' Q3 Melbourne salary survey follow: