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Morning Coffee: Top financier reveals best finance job for short working hours. Where Deutsche Bank must hire

Reclaim your time. - Work in fund management.

Reclaim your time. - Work in fund management.

A finance job which lets you leave the office before 6pm and have an existence external to work is a bit like a four-leaf clover. – It exists in theory, but you can spend your whole life looking for one without success. Fortuitously, therefore, a senior finance professional has signposted where there are plenty of such chimeras to be found.

“Fund management is a great career for anyone who wants to be judged on results, not hours at a specific desk,” Helena Morrissey, chief executive of Newton Investment Management, told the Financial Times. “Therefore it is great for women and men who want their career to be part of, not the only, thing in life,” she adds.

Alongside her CEO role, Morrissey is known for having nine children. “I could not have had nine children and reached a similar career point if, say, I had been a corporate finance lawyer,” she tells the FT. Unfortunately, and despite the suitability of fund management as a career for working mothers, the FT points to research showing that fewer than 7% of US mutual fund managers are now women, down from 10% in 2009. The reason for the decline in female representation is unclear, but given that fund management bonuses have also risen dramatically since mid-2011, male fund managers have obviously alighted upon a good thing..

Separately, Deutsche Bank needs to hire even more compliance and control staff. Last week, the German bank said that it has already 700 people in each of its compliance and control divisions, but that it’s aiming for 1,000 in each. Now it transpires that the German bank has been placed under, ‘enhanced supervision,’ by the London Financial Conduct Authority (FCA), which is concerned about failures in the bank’s reporting and monitoring systems. The New York Times points out that similar concerns about Deutsche were raised by US regulators in late 2013. In the US, Deutsche Bank subsequently announced plans to hire 500 extra ‘systems and controls’ staff. A similar move seems highly likely in London.

Meanwhile:

“When you think about the image of the investment banker, it’s self-centered, it’s money-oriented, and it’s aggressive—particularly low on the kind of characteristics society thinks of as being appropriate for women.” (Wall Street Journal) 

Espirito Santo’s UK business is preparing to make significant hires across equity research, sales and trading,. (Financial News) 

JPMorgan’s profit on the Swiss franc is an indication that it’s still engaged in proprietary trading and is sidestepping the Volcker Rule. (Fortune) 

Citigroup lost money on the Swiss franc because it stupidly removed its FX hedges one week before the SNB’s change of heart. (Bloomberg) 

Crispin Odey thinks the UK is on the cusp of a downturn that will be remembered in 100 years. (Guardian) 

Standard Chartered has shortlisted Simon Cooper, head of HSBC’s commercial bank, to replace  Peter Sands  at Standard Chartered. (Telegraph) 

Standard Chartered is building up its DCM business. (Global Capital)  

UBS is building up its leveraged finance business. (Global Capital) 

It’s a great time to work for the Big Four. (Telegraph) 

CIBC is cutting 500 jobs. (Bloomberg) 

Fake FX trader Alex Hope is an idiot, redux. (Bloomberg) 

Warren Buffet has been known to phone individual traders for strategy advice, says Lloyd Blankfein. (Financial Times via Twitter) 

Brevan Howard has been suffering from withdrawals, but Alan Howard just spent $33m on an apartment in Trump Towers. (Sunday Times)

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