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Company: SAFE
Carnegie IT cuts may be just the start
Around this time last year Stockholm-based Carnegie Investment Bank was pledging that the jobs of all 300 employees of HQ Bank were safe following its acquisition of the ailing Swedish financial services operation. This week, those words rang rather hollow as the combined bank announced it would now be shedding 100 positions during the coming [...]
US EDITOR’S TAKE: My story from September 11th 2001
It’s been 10 years since the planes came in and changed the landscape of lower Manhattan forever; 10 years since two commercial passenger airliners were turned into weapons of mass destruction by a small army of terrorists and flown into the North and South Towers of the World Trade Center. That attack on September 11, [...]
Swedbank could soon be on the hunt for relationship managers
Swedbank has rejigged the top table within its new Large Corporates & Institutions (LC&I) division, which could soon lead to more opportunities for relationship managers with knowledge of Nordic “second tier” corporations. Last month, bank has promoted current deputy head Magnus Gagner Geeber into the top job at LC&I, while current head Stefan Carlsson has [...]
From sports star to wealth manager
With so many top sports stars commanding multi-million dollar salaries, it’s perhaps not overly surprising that banks, including Swedish and Nordic ones among them, actively woo former players to sit on the other side of the table to act as wealth management and private banking relationship managers. Six-times Grand Slam-winning tennis player Stefan Edberg, who [...]
Everything you need to know about hiring this year, from the enormous Morgan Stanley report predicting 20k job losses
Morgan Stanley and Oliver Wyman have produced their large annual report on the state of the investment banking industry. It doesn’t make for massively felicitous reading: what with Basel III and falling margins, it says banks need to reduce their costs and cut 20,000 jobs.. Assuming you don’t have the report, or don’t want to [...]
Don’t expect Nordic jobs boom from Europe’s sovereign debt crisis
Europe’s sovereign debt crisis could yet prove a cloud with a silver lining for Nordic banks, as it may lead to increased activity within areas such as risk, cash management, fixed income and foreign exchange. The moot point, however, is whether such activity will in turn lead to more job opportunities, with both analysts and [...]
GUEST COMMENT: The CFA is becoming the quality standard for private bankers
An increasing number of private bankers are taking the CFA. In 2009, 11% of all charterholders worked as private client wealth managers/advisors. We see more and more private bankers taking the CFA for the following reasons: 1) Regulation After the events of the past 3 years, it’s fairly safe to say that regulators will expect [...]
Nordic banks likely to play it safe around bonuses to prevent public backlash
Swedish bankers may be able to pat themselves on the back they’ve “read” the financial crisis better than most in Europe this year – but it’s unlikely to lead to a bonanza in bonus payouts. Last month, research by recruitment firm Hays argued that Swedish top executives, albeit not just in banking, had earned some [...]
HQ and Carnegie merger could lead to jobs merry-go-round
Stockholm-based Carnegie Investment Bank has pledged that the jobs of all 300 employees of HQ Bank are safe following its swoop this week on the ailing Swedish financial services operation – but there’s still likely to be a period of uncertainty within both organisations. Carnegie bought HQ Bank and HQ Fonder, its trading business, on [...]
Should Nordic banks target the Middle East even after the Dubai debt debacle?
Safe and sensible can have its advantages in the current climate, but could the stubborn reluctance of Nordic banks to dip their toes into the Middle East – something barely on the cards even before the Dubai debt crisis – leave Scandinavian bankers playing catch-up in the future? The headlines emanating from the Emirate over [...]
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