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Late Lunchtime Links: Two banks now hiring commodities traders; weird all-night Goldman Sachs game-playing

Blade Runner vibe after hours at Goldman Sachs (Photo credit: Dallas1200am)

Blade Runner vibe after hours at Goldman Sachs (Photo credit: Dallas1200am)

Commodities traders have been getting burned. Bloomberg reports that everywhere from Goldman Sachs to Morgan Stanley, to Deutsche Bank and JPMorgan has been cutting commodities jobs. Deutsche Bank in particular, has eradicted as many as 100 commodities jobs in the past year. But there is hope: commodities traders can still get hired, they just need to apply to Citi and BTG Pactual.

Citi is building its commodities team, says Bloomberg. The US bank now has around 250 commodities traders – even more than 225 commodities professionals said to be left behind at Deutsche Bank. And if you don’t want to work for Michael Corbat? Try applying to Brazilian firm BTG Pactual. BTG is said to be building commodities teams in London and New York and has hired Ricardo Leiman, a former chief of the trading house Noble Group to lead the expansion.

Separately, a journalist from the website Quartz has attended a weird all-night game involving Goldman Sachs. The game, titled ‘Midnight Madness’ runs over a 15 hour period, starting at 7.45pm one evening and ending at 10am the following day. During this time, teams from across Goldman’s divisions in New York (even including compliance) compete to solve complex puzzles placed in strategic locations across NYC. This year, for example, they were instructed to visit a synagogue and locate a map covered in thermo-sensitive paint, to play laser mini golf in an eerie deserted building, and to bring an inexplicable tube of toothpaste.

The game encourages conspiracy mindedness, says Quartz – players are encouraged to mistrust the organisers. It also helps foster team spirit, with everyone working together to solve the strange and complicated puzzles. Ewan Kirk, a Goldman alumi and the CEO of UK hedge fund Cantab Capital Partners in Cambridge, flew to New York especially for the event. “It was one of the most enjoyable experiences of my life,” Kirk reportedly declared. Full details and photographs of exhausted Goldman staff are available here. 

Meanwhile:

Someone else has left Brevan Howard. This time it’s Chris Cecere, who joined Brevan’s Geneva offices after leaving Citigroup in 2010. (Financial News) 

Zaoui Capital has hired Stéphane Zeghbib, who was previously a junior banker at Morgan Stanley. (Financial News) 

Soc Gen attempts to argue that European banks should be immune to US leverage restrictions. (Bloomberg) 

Barclays has got a new country head in South Korea. (Wall Street Journal) 

UBS has created a new role of ‘head of investment banking in South East Asia.’ (Wall Street Journal) 

Ex-Merrill Lynch banker reinvents self as tennis player with 140mph serve. (Bloomberg) 

Related articles:

The 12 most risky banks to work for now. 

The silent savaging of the British banking aristocracy. 

The top 5 Masters in Finance courses. And when it makes sense to wear black leather at work…

 

 

 

 

Comments (2)

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  1. We played the exact same type of game when I was a pledge at my fraternity years ago…whole thing is an old school bonding exercise.

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