AU
Ageism as longest serving traders and salespeople leave Barclays?
True to its promise to disproportionately target its most senior staff for layoffs, it seems Barclays has been clearing out long serving rates traders and salespeople. “Barclays let go of a whole raft of senior people from its rates desk,” said one London-based headhunter, speaking on condition of anonymity. “They were mostly people who’d worked […]
Outrage as senior trader let go after a tiny $10m-$25m loss
In a sign that French banks are becoming extraordinarily risk averse, BNP Paribas is said to have let go of a senior trader after a loss that would barely merit a mention at rival banks. The Financial Times says that Lionel Crassier, the former head of U.S. equities for BNP Paribas, has left the French bank after […]
Daily Dispatches: VTB stacks the deck for push into China
Russia’s VTB Capital has made two senior hires in its Hong Kong office to support expansion plans in the Asia-Pacific region. Xin Lin is the new head of multi-product sales for China, and joins from Nomura in Hong Kong where she had been Head of Global Finance, COO of China, since 2008. Wei Chen joined VTB Capital’s Corporate […]
Six ways multinationals can nurture Singaporean talent
Global companies in Singapore with aggressive ambitions for Asia have started ramping up internal programmes to advance the skills and experience of nationals. Success in Asia is increasingly being linked to the visible diversity of top executive leadership – and international banks have responded accordingly. The Tripartite Alliance for Fair Employment Practices (Tafep) recently published […]
Fearful of returning to France, French bankers sit it out in South Kensington
Things are not going well in France. Michael Hintze, founder of hedge fund CQS, has pointed to a recent spate of car burning as a leading indicator of French social unrest. A report from the Pew Research Center found that the French were particularly dispirited within Europe: 91% of them say their economy is doing […]
Late Lunchtime Links: Can Morgan Stanley fixed income bankers trust Gorman when he says their jobs are safe?
Morgan Stanley’s fixed income bankers have nothing to fear. Despite presiding over the worst performance of any major bank in fixed income sales and trading in the first quarter (a 44% year-on-year decline), they will not be losing their jobs: James Gorman is perfectly happy with them. So said Gorman at a fixed income investor […]
Brokers blocked as employers play hard ball
Insurance brokers are making it increasingly difficult for staff to make a move to a competitor by enforcing restrictive covenants that stop the poaching of clients and former colleagues. This week broker Eastwood & Partners was forced to pay Romero Insurance Brokers £110k in damages after losing a High Court dispute. Romero sued the firm […]
Want a job in finance? Hot qualifications in London, New York, Asia
Not all finance qualifications were created equal. And not all finance qualifications are equally relevant in different global markets. Based upon the jobs currently advertised on eFinancialCareers and the finance résumés uploaded into our own database in the past three months, we’ve put together the following helpful ranking of qualifications most likely to land you a […]
Do you work for a Chelsea or Manchester United style bank?
Regulators are demanding that wealth managers are better qualified, but private banks are still attracted by star quality, rather than building from the bottom up. Despite all the talk of a skills-shortage in Asia, which resulted in private banks hiring in hairdressers, there’s a dearth of talented wealth managers between 30-40 years old able to […]
Cantor Fitzgerald: Where structured credit old boys are getting hired
Last time we looked at structured credit hiring, there wasn’t much going on. Mortgage securitization was creeping back in the US, but it was still moribund in Europe and potential hirers were sitting on their hands. It’s exciting, therefore, that Cantor Fitzgerald has suddenly leaped into the European structured credit market. Even better, it’s recruited […]
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