CA
Sector: Equities
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 [...]
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 [...]
Analysts Gain Clout at Mutual Funds
Buy-side analysts’ stature is rising as shown by the rise of analyst-run mutual funds, even as sell-side research has regained little if any ground lost to scandals early this decade. A number of mutual fund companies are reporting strong performance numbers for sector funds whose research analysts wield influence on a par with portfolio managers [...]
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 [...]
Rating CFA Analysts’ Forecast Performance
Recently published research says analysts holding the Chartered Financial Analyst (CFA) designation outperform those without the charter on measures such as timeliness and market influence. As Globe and Mail columnist Andrew Willis points out, that’s an uplifting message for some 15,000 Candians who sat for the exam last weekend. The study, published in the American [...]
Too Many Banking Boutiques?
Is the bloom off the boutique banking boom already? A few months ago jumping ship from your bulge bracket firm seemed like a good idea given TARP was an anchor on bonuses. But Goldman Sachs, JPMorgan Chase, and Morgan Stanley aren’t going down without a fight and might be paying back TARP money sooner than [...]
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