There are plenty of pessimists around the Australian investment markets but Shane Oliver, head of investment strategy at AMP Capital Investors, isn’t one of them.

The leading Aussie economist says despite the global downturn and rising interest rates locally, 2008 is likely to see growth remain vigorous in Australia, thanks to strong investment and exports.

“Increases of 60-80% in prices for iron ore and coal will add just over $2bn a month to export earnings, and Australia’s high exposure to strong growth in China and Asia and low exposure to the US provides a buffer,” Oliver believes.

This should be good news for the banking job market, and particularly for bankers working in areas related to natural resources or emerging markets.

Caan Krsztew-Ivanow, a senior search consultant at Melbourne-based financial services specialist Graeme V. Jones & Associates, says most of the recruitment action is with the Big Four Aussie banks. “They are deciding to become global players and are pushing into Asia to compete with the big players. Our domestic banks are strong and are looking to grow and acquire overseas assets. They’ll be looking for bankers with global skills and knowledge.”

Recruiter Adam Kolokotsas, general manager of Tanner Menzies’ Sydney office, says the move into Asia is set to create work for Aussie i-bankers who have strong capital-raising experience: “Basically, they’ll be originator jobs at the director level and will earn AU$200k to AU$250k, with an uncapped bonus.”