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Morning Coffee: Exhausted in IBD? – Bank with reputation for leniency now hiring. Credit Suisse post-bonus exits

HSBC

Do you work in M&A? Are you tired of the long days, the interminable nights, the endless pitching? Wake up. See the light. – You could be working for HSBC.

The British bank is building up its UK IBD business. Fresh from poaching BAML ECM director Paul Bundred, the Wall Street Journal reports that HSBC has also just obtained Philip Noblet to help build up its UK advisory activities. After 23 years in M&A and 11 years at BAML, Noblet himself might be feeling a fraction fatigued, but HSBC has a reputation for working its people less strenuously than some US investment banks. Best of all, the Journal reports that HSBC is planning to ‘use its position as a large U.K. lender to win more advisory business.’ – In theory, this should make life easier for its M&A bankers, who will simply need to execute deals attached to loans rather than travelling Europe and originating them.

Separately, Global Capital reports that credit traders have been leaving Credit Suisse after bonuses were paid. Two have purportedly gone to the buy-side. Who said traders in banks don’t have options?

Meanwhile:

All sorts of M&A bankers will be leaving Blackstone’s advisory business before it blends with the boutique set up by ex-Morgan Stanley bankers Paul Taubman. (Reuters)

Senior regulator says he would love his teenage son to work in private equity: “The people in private equity, they’re the greatest, they’re actually adding value to their clients, they’re getting paid really really well.” (BloombergView)

The UK bank levy just increased by £900m a year. (Financial Times) 

The IPO of Goldman Sachs’ lending venture didn’t go so well. (Bloomberg) 

How to succeed in interviews, according to Google’s head of HR. (CityAm)  


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