SBI cannot find a chief economist

Shyamal Majumdar of Business Standard points to an interesting story:

N Raja, deputy managing director of SBI, says a public sector bank has to learn to live with the constraints as its mandate is much beyond just making profits. But the attrition level, he says, is still well within single digits, though it’s something the bank is determined to bring down.

The bigger challenge, he says, is to attract the right kind of talent in specialised functions that SBI has got into: Private equity, treasury, risk management, general insurance etc. For example, the bank has been looking for a chief economist for some time now. But the available pool is small, and though the right candidates are enthused by the challenges that the job offers, the remuneration is a problem as SBI just can’t match competition.

Hmmm…

I think size of the talent pool is likely to be a major issue. If salary was the main issue, public sector banks will not find any people to fill in any positions. But you do get to see great large number of talented people in public sector banks. There are chief economists in other public sector banks as well and most have similar salary structure.

Whatever,it is interesting to know SBI, India’s largets bank is finding it difficult to recruit a chief economist.

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4 Responses to “SBI cannot find a chief economist”

  1. SBI cannot find a chief economist « Mostly Economics Help Says:

    […] post: SBI cannot find a chief economist « Mostly Economics Police find missing Kaysville man | Standard-Examiner – Ogden …I need to know where […]

  2. K R Vaikuntam Says:

    If RBI can convince Subir Gokarn to become DG why cant SBI find someone? They have to relax the rules a bit. May be they should have a team of 3 part time economists and allow all of them to reasearch, consult and publish, keeping other revenue streams open. Or they should employ them in the subsidiaries SBI Capital Markets Ltd. or SBI MF where remunerating the right candidate may not be a constraint and the inputs can be available to the parent bank

    – Vaikuntam

  3. Frazier Says:

    Where did you grow up?

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