CA
Sector: Debt / Fixed Income
Scotia’s Hiring as Issuance of Home-Grown High-Yield Debt Picks Up
“Debt is becoming the new equity,” says Greg Woynarski, co-head of fixed income at Scotia Capital, referring to rebounding interest in high-yield products issued in Canadian dollars. Over the past two years, Scotia Capital has been assembling a new desk specializing in high risk-and-return paper. So far, the bank’s investment arm has hired a total [...]
BarCap Seeks Sales, Trading and Research Pros
Barclays Capital is scouting for new blood in Canada. Currently, BarCap employs roughly 45 people in Toronto and 20 in Calgary. Now, the company means to bring on the following professionals, a spokesman told EFC News: – Equity-focused sales and trading professionals – Fixed-income sales and trading professionals, with emphasis on the equities side – [...]
Energy Traders Face Rocky Road, On and Off the Street
If you’re an energy trader, it’s a safe bet that you’re a bit worried about your job. Overall, due to tech and the big players taking over, there’s fewer jobs. Plus, the Commodity Futures Trading Commission is just about ready to announce position limits for physical commodity derivatives as mandated by Dodd-Frank. That, and expected [...]
Fixed-Income Could See a Nice Increase in Compensation
Strong markets and wild competition for talent should spell some extremely good news this year for what Canadian fixed income professionals are paid, both on the buy and sell sides. Since August of 2009, “investors both domestic and foreign directed new assets into Canadian bonds, and global dealers that had retreated from the Canadian market [...]
Arguably the best banks to now work for within equities, sales and trading, FICC and M&A
As part of its look into how the investment banking world has transformed since the halcyon days of 2007, Financial News has assessed how the rankings have changed since then across various business areas. The results, perhaps surprisingly, show that although the deck has been shuffled quite significantly since that time, the firms at the [...]
Share-Based Pay Lifts Total Compensation at Scotiabank
Deferring compensation is working out nicely for staff at Scotiabank if the January quarter is any indication. While a new incentive plan multiplied stock-based pay, the total for salaries and other cash compensation also rose for the investment banking unit’s 1,568 employees and dipped just slightly for the company overall. In a table accompanying its [...]
RBC Unveils Pay Reforms
Jumping aboard the compensation reform train, Royal Bank of Canada told capital markets employees it will incorporate risk measures in bonus calculations, will defer a larger share of compensation, and is finalizing a bonus clawback policy. The changes outlined in a memo to RBC employees are similar to those adopted by Bank of Nova Scotia, [...]
Big Banks’ Bonuses Tracking 18 Percent Rise
Like their Wall Street counterparts, Canada’s bankers are in line for bigger bonus checks this year than in 2008, corporate filings indicate. Incentive pay among the six largest Canadian banks totaled $6.4 billion for the first nine months of this year, up 18 percent from the same period last year, the Globe and Mail reports [...]
Q&A: Capital Markets
Sarah Baldwin Kavanagh is a vice-chair in the investment banking group at Scotia Capital, the investment banking and capital markets division of Scotiabank. She is co-head of the diversified industries team and focuses on media and telecom clients. How did you become a managing director in capital markets? I graduated from Williams College and worked [...]
Job Market May Be Stabilizing, Recruiter Says
Although Canada’s unemployment rate stands at 8.4 percent, its highest level in years, and the jobs picture in the Canadian financial industry is not exactly frothy, recruiters say signs of equilibrium are returning. “Clearly the financial services market globally has still not recovered, but the recruitment market has plateaued somewhat, “says James Mayo, operating director [...]
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