CA
Volcker Rules Could Impair Canadian Banks’ Ability to Handle Risk
Canada’s financial services regulator and Canadian banks are complaining about a central piece of the 2010 Dodd-Frank rules, which are designed to limit banks’ prop trading activities, among other things. In a letter delivered to U.S. authorities in December and made public last week, Canada’s Office of the Superintendent of Financial Institutions (OSFI) said the [...]
Survey Shows More than Half of Canadian Companies Expected to Hire in 2012, Especially in the Prairies
Don’t mind chilly winters? Canadian employers are as bullish on hiring now as they were a year ago, and the number of those planning to cut staff in 2012 is slightly lower than in 2011, according to stats just published by the Bank of Canada. The hiring outlook was a bright spot in a winter [...]
BMO Shelves New Product After Official Pledges to Firm Up Banks-In-Insurance Ban
Earlier this year, the Bank of Montreal began selling a product called BMO Lifetime Cash Flow, which provided buyers 55 and older with guaranteed payments for life. But Canadian banks are prohibited by law from selling most types of insurance in their branches, and a number of life insurers complained to regulators that the new [...]
The eFC Career Tool Kit
People throughout the financial industry are nervous. Whether or not your firm’s under pressure, it’s always smart to have your resume up-to-date, be in touch with your network and be ready to launch a job search should the need – or the opportunity – arise. To help, we’ve organized some of our favorite articles into [...]
Around the globe: A roundup of hirings, firings and sector trends in 2011
Corporate banking, prime broking, traders’ hedge funds: What actually went up in 2011? As we note in our accompanying article on the trials of the past 12 months, 2011 hasn’t been a particularly good year. One measure of this is that according to Bloomberg, more financial services jobs were lost in 2011 than in 2009. But hey, [...]
RBC To Curb Its Efforts to Be a Top 10 Investment Bank in the U.S.
Royal Bank of Canada has doubled the size of its investment bank over the last five years, but it’s now curbing hires and expansion amid volatile capital markets. That news comes directly from RBC Capital Markets co-head Doug McGregor, who told Bloomberg that “this is the time to consolidate and try to make some money.” [...]
Holiday Gift Giving Dos and Don’ts for Tough Times
It might seem counterintuitive, but even if your department or division’s been hit with massive layoffs, holiday gift giving still can’t be overlooked. Even if it’s bah-humbug all around and the halls are echoing the blues, getting in the spirit of the holidays just may be a good move for those left behind. Celebrating when [...]
Monday’s Headlines: Two Canadian Banks Consider Re-Entering Cuba
Canada’s Bank of Nova Scotia and Royal Bank of Canada are looking into returning to business in Cuba, where they have been absent for more than 50 years, the Financial Times reports. The Cuban government recently passed reforms which open the country to economic opportunity for both citizens and foreign banks, including the ability to [...]
Friday’s Headlines: MBA’s increasingly scanning essays for copy cats
Surprising as it is, MBA applicants are still plagiarizing their entrance exams. To combat unethical behavior, increasing numbers of business schools are using software to root out plagiarism on MBA application essays, as the problem is widespread, according to a Businessweek article. There are 10 to 20 schools using Turnitin, including Penn State’s Smeal, UCLA’s [...]
Wednesday’s Headlines: Jefferies will claw back defectors’ bonuses
Jefferies isn’t playing around. The struggling investment bank sent a memo telling employees they will receive a discretionary cash bonus for 2011 – but the firm will insist it be repaid if workers leave for a competitor within the following year, Fox Business Network reported. Restricted cash paid in lieu of restricted stock is subject [...]
Follow eFinancialCareers
What is RSS?
Advice
Latest Advice Article:
Five Things Your Hiring Manager May Be Thinking But Will Never Disclose
