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Morning Coffee: The 45 year-old every M&A banker wants to schmooze. Hottest jobs in trading

Brent Saunders Allergan

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Are you familiar with Brent Saunders? If you’re not, and you work in M&A, you’re seriously remiss. He is every M&A banker’s dream.

Aged 45, Saunders has already participated in around $150bn of M&A deals. As the chief executive of pharmaceutical company Allergan, Saunders he’s been involved in $97bn of deals in 2014 alone. Now he’s selling Allergan’s genetic unit to Teva pharmaceuticals for $40bn. 

It’s not easy being an M&A powerhouse. When Forbes spoke to Saunders, he’d only had one hour’s sleep. Saunders himself called up Teva and dissuaded the company from buying Mylan Inc in favour of Allergan’s business.   In the early 1990s, New York-based Saunders spent four years working as an advisory services partner at PricewaterhouseCoopers, but nowadays he brings in the professionals. Saunders’ favoured M&A bankers include Goldman Sachs and Bank of America Merrill Lynch, to whom he reportedly paid at least $112m and $56m in fees last year.

If you’re a pharmaceutical M&A banker, you clearly need Saunders on your side. – Morgan Stanley got caught in a conflict of interest pursuing his business last year.  Even if you win him, however, don’t necessarily expect Saunders to thank you for your efforts: “I find [the M&A] tedious and lots of hard work,” he told the Financial Times last month. Meet the perfect client. Just don’t expect him to be easy.

Separately,you want to take another look at electronic trading. Financial News reports that banks in Europe are engaging in a rush of hiring before MIFID II comes into force in 2017. Among the hires so far, J.P. Morgan has hired Finlay Campbell from Morgan Stanley and Joseph Falso from Bank of America Merrill Lynch, Goldman Sachs has hired Ben Coward-Talbott from Morgan Stanley. And Morgan Stanley has hired Sam Railton from Instinet (Nomura).

Meanwhile:

Daniel Pinto is convinced that fixed income markets as a whole are close to the bottom of the cycle and that it would be “a really bad idea” for JP Morgan to cut back now to boost short-term profits. (Financial News) 

Antony Jenkins refused to set foot inside Barclays’ investment bank and infuriated non-executives with what they saw as a defensive standoffish attitude. (Financial Times) 

High speed traders are now included in the EU bonus cap and they’re not happy. (Financial News)

“If you want to speak to the entire Frankfurt financial sector, you can gather them in a large ballroom,” but the City of London is still vulnerable to a Brexit. (Economist) 

Goldman Sachs has been fined $1.8m for eight years of audit trail violations. (Waters Technology) 

You’re more likely to get hired if you can present your CV in person. (NCBI) 

Why you should have bought a house in North London. (CityAm) 

The best thing about retiring at 30. (Vox) 

Meet the bankers and strategy consultants who give half their salaries to charity. (Huffington Post) 

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