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Morning Coffee: Look where all the London finance jobs are now. The art of emails when you work in banking

Now you see them

Now you see them

If you work in London’s financial services industry and are looking for a new ‘opportunity’ but can’t find one, you’re looking in the wrong place. For abundant finance jobs, forget banking, forget fund management, forget insurance, forget ‘legal services.’ Go for accounting or management consulting.

Firstly, there are far more jobs here than elsewhere. Secondly, the number of jobs available in accounting and management consulting is growing exponentially. Witness the chart below, taken from the TheCityUK’s new employment survey, which claims that finance-related employment increased to a record 709,500 people in 2014 – mostly thanks to massive growth in accounting and consulting jobs since 2011.

The CityUK

Separately,new learnings are surfacing about the art of sending an email when you work in an investment bank. For example, it seems that Jamie Dimon demands that his staff reply to emails within one day (it’s not clear whether this applies only to emails sent by Jamie himself). And you probably shouldn’t use the word ‘workaround’ in a work email: a consultancy firm hired by a bank suggests that this is a red flag indicating regulatory disrespect.

Meanwhile:

Looks like Cantor will be hiring a few equity researchers. (Reuters) 

Average pay in asset management is now 1% higher than in investment banking. (Financial News) 

What with the rising Swiss franc, Julius Baer is cutting 200 jobs to save money. (Financial Times) 

Shares in Julius Baer rose 6.4% after it said it was cutting staff. (Fast FT) 

‘Challenging market conditions’ are prompting Cannaccord Genuity to make 4% of its staff redundant. Most of the cuts will come in its capital markets business. (Financial News) 

Nomura is making redundancies in US investment grade credit trading. (Bloomberg) 

With liquidity tight, bond trading has become much harder than it used to be. And it’s about to get worse. (Bloomberg)  

Despite the problems at Brevan Howard, the tide could be about to turn in favor of macro funds, which could benefit from divergent monetary policy and different growth trajectories in Europe, Japan and the U.S. (WSJ) 

Steve Cohen now has a graduate training programme at Point 72 Asset Management. (Bloomberg) 

Ireland aspires to create 10,000 new finance jobs in Dublin over the next five years. They will mostly be in Fintech – hopefully. (Irish Times) 

How to study for CFA Level II. (300 Hours) 

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