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Morning Coffee: Impetuous finance escapee finds self stranded in Devon. Deutsche Bank’s mistake

Quitting finance

Beyond London

Leaving finance is supposed to be fun. You’re supposed to be able to say things like, “I’m working harder than ever, but at least it’s for something I believe in.” Former colleagues should ideally look at you and wonder why they’re not leaving too.

The tale of Rob Maule, a former accountant at KPMG, runs contrary to this trend. Instead of inspiring anyone else to leave a finance career, Maule may encourage them to stay put.

It all started when Maule was watching Ninja Warrior, a Japanese TV show, with his flatmate last year. “I really hated accounting and wanted to get out. I found it soulless and uninteresting, so I decided to give it all up and design my own version of Ninja Warrior,” Maule told City Am. He subsequently put ‘every last penny of his savings’ into a transportable obstacle course called Urban Ninja.

Maule revealed he’s spent the last six months building ninja obstacles in a building in Devon in the south west of England with no heating. “I’m living in a place called the Ultimate Adventure Centre, which is 10 miles from the nearest train station and in the middle of nowhere,” Maule said. “- I don’t have a car so can’t do anything, and the people that come by here are big school groups.” That doesn’t sound very appealing, but Maule claimed to be happy with his choice nonetheless: “I have put so much money and energy into it because it’s my own creation, whereas before I was working for nameless organisations.”

Separately, analyst and blogger, Dan Davies has written something on where Deutsche Bank went wrong. “The [Deutsche] Equities franchise has spent the last twenty years cycling between “We’re top three in FICC so we should be top three in Equities! Hire some people!” and “We’re top three in FICC so why aren’t we top three in Equities! Fire some people!”, says Davies. Now that Deutsche is absolutely committed to bolstering its equities franchise, it may be hiring again – and possibly letting go of a few people first.

Meanwhile:

Murray Roos, Deutsche Bank’s co-head of European equities, is leaving for Citigroup. (WSJ) 

Nohshad Shah, former head of European rates hedge fund sales for Deutsche, is leaving for Goldman Sachs. (Financial News)

Did Libor rigging help Deutsche Bank avoid a bailout? (Euromoney) 

Revenues across BNP Paribas’s investment bank rose 24% in the first quarter, but return on equity across the bank was just 9.6%. (Financial Times)  

BNP Paribas has been cutting commodity and energy finance staff in Geneva. (Swiss Info)

What’s happening at RBS: “Our destination is as a UK–focused bank capable of delivering attractive sustainable returns from a low-risk profile. Every time I talk to you I expect to show you that we are one step closer to that destination.” (Financial News) 

“A woman in finance, told me about feeling excluded and paranoid when colleagues whispered at their desks.” (Financial Times) 

Why you must schedule your interview first thing in the morning. (Time) 

Lloyd Blankfein’s lost hair: “Mine was wavy, and it waved goodbye,” Blankfein said. (Dealbreaker)


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