AU
Sector: Research
Lehman and hedgies still hiring equity researchers
Compared to hiring for sales and trading positions, equity research jobs appear relatively unaffected by the crunch: banks and hedge funds are still busy hiring in the area. Lehman Brothers has recently created the new role of head of equity research, Singapore and Southeast Asia, and poached Jit Soon Lim from Citigroup to fill it. [...]
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 [...]
For sale sign up at ABN AMRO Australia
Who’ll buy ABN AMRO’s Australian unit? And what will happen to its 700 local staff? With a reported AU$1bn price tag, and most banks struggling to find cash at the moment, sale advisers Lazard Carnegie Wylie certainly have their work cut out. Analysts regard ABN AMRO’s mergers and acquisition division as one of the key [...]
Exile on Wall Street?
Wall Street is definitely not the flavour of the month at the moment, especially when it comes to investment banking. It’s not really surprising, therefore, that many Australians working in the Big Apple are checking out their job options for fear they may not have a job in the very near future. According to Adam [...]
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 [...]
Working hours – do China’s bankers have the right idea?
Forget slogging your guts out for an investment bank, you’re much better off working for the public sector. This, at least, seems to be the conclusion reached by a senior banker in China. Wilson Feng, former chairman of China investment banking for Merrill Lynch, told Bloomberg last week that he was quitting banking to work [...]
Hiring holds for equities analysts
Recruitment may have cooled in some areas, but equities analysts are still hot. Even better, plenty are prepared to switch jobs. Patrick Hodgens, head of equities at Macquarie Investment Management, says market volatility has increased the flow of equities analysts looking for new positions – just 12 months ago he says they were much harder [...]
Independent thinkers wanted
If Chinese walls bother you, you might find your niche in an independent equities research house. The two main Australian independent houses, Aegis and Fat Prophets, started seven years ago and both are growing. “We opened in 2000 and set up a London office in 2003,” says Greg Canavan, senior analyst at Fat Prophets. “We [...]
Perth’s credit analysts come out on top
The mining boom in Western Australia has enabled Perth to leap above its eastern state rivals as the home of the highest base salaries for credit analysis in Australia. A survey by recruitment firm Robert Walters shows that the salary range for credit risk analysts in Perth with less than two years’ experience is now [...]
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