AU
Sector: Hedge funds
Sprinkling of new jobs as short selling returns
The end of the short-selling ban should generate a gradual growth in jobs, with a few new vacancies opening up at both hedge funds and sell-side firms. The Australian Securities and Investments Commission (ASIC) took the decision because “the balance between market efficiency and potential systemic concern has now moved in favour of the ban [...]
Hedgies run lean as market stays mean
Hedge funds aren’t in the mood to hire as investors continue to give the alternative sector the cold shoulder. Many investors, both institutional and high-net-worth, remain cautious and don’t want to give their money to hedgies, especially with the short-selling ban still in place. “There are a number of factors which are affecting hedge funds [...]
Should short selling still be banned?
Will extending the short-selling ban on financial stocks cause even more suffering to hedge funds? Are Australian regulators determined to kill an industry which already faces record redemptions and falling hiring? The Aussie prohibition is looking decidedly passé. Foreign countries are starting to bring back short selling and local banks (the supposed beneficiaries of the [...]
Hedge funds set to trim recruitment
The hiring market for hedge funds is due for a lean patch as potential industry consolidation and the short-selling ban hit home. Spencer Young, chief executive of Australian-based fund HFA Holdings, reckons the number of funds worldwide is set to fall as a result of consolidation caused by market volatility. (Investor Daily) What will be [...]
Having a ball with counterparty credit risk
In risky times, it’s hardly surprising that financial institutions are going to town on risk specialists – particularly counterparty risk analysts who can help them ascertain whether the hedge funds and other clients they’re doing business with are liable to go under. “There has been increased interest but it’s been hard to get really good [...]
Want to leave? Pay back that bonus
Investment banks are coming up with innovative ways to keep some staff on their payrolls, even while they let go of others in the wake of the credit crunch. This inventiveness mostly takes the form of long-term stock grants, or measures that let banks defer cash expenses in hopes that revenue growth will pick up [...]
Australian bankers spared redundancy
Wholesale redundancies don’t seem to be on the agenda right now for Australia’s major and regional trading banks, or for most of the investment banks. That’s the word from senior recruiters, although the marketplace is still full of downsizing rumours, including one that Bank of America will scale back from a trading bank to a [...]
False sense of security?
The US financial services industry is burning, but who’s to say Sydney’s so safe? Bear Stearns doesn’t have an Australian office and Macquarie and Babcock made healthy profits in 2007, but that doesn’t make Australia immune to what’s happening on Wall Street. Australia’s market has dropped 20% since November, with finance stocks down 30%. Notions [...]
Wet season could signal job deluge for agri-specialists
Are we about to see torrential demand for bankers and traders with agricultural expertise? Maybe – the recent end of the drought in some areas and rising prices for soft commodities are creating opportunities both for traders specialising in agricultural products, and for agri-economists who can predict what’s going to happen next in the sector. [...]
Bad news is good news for restructuring jobs
Collapsing stock markets and tightening credit are bad news for most investment bankers. Restructuring specialists are the exception. If, as looks increasingly likely, the US economy lurches into recession, one senior economist warns that it’s only a matter of time before local defaults start to hot up. Shane Oliver, head of investment strategy and chief [...]
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