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Late Lunchtime Links: Secret ‘golden pitchbook’ gets public airing
A top secret ‘golden pitchbook’ dating back to Bear Stearns circa 1980 has surfaced on Buzzfeed. It is not a pitchbook in the M&A all-nighter sense of the term. It is a pitchbook in the sense of selling securities to retail clients – although it could equally be applied to selling anything to anyone, anywhere. Fundamentally, […]
Meet the ex-head of UBS credit trading prowling for the next Tumblr
Until March 2013, Damien Regent was a fairly typical investment banker. Up at dawn, he worked 12 hour days as UBS’s co-head of financial credit trading in London. Two months ago, all that changed. Unleashed from UBS following the bank’s decision to pull back from fixed income, Regent has reinvented himself as an angel investor. […]
J.P. Morgan Board Members Brace for Change as Dimon Stands Tall
He’s safe, and it wasn’t all that close. Shareholders overwhelmingly rejected a proposal to strip J.P. Morgan Chief Executive Jamie Dimon of his chairman duties, with only 32% of the votes cast against the bank’s top man, down from 40% last year. Dimon is going nowhere, but some of his compatriots may soon be shuffling […]
Stressed out bankers are underpaid and overworked
Shrinking pay packets are the primary sources of stress in the banking sector as financial professionals face longer hours and unachievable deadlines without the prospect of a big bonus at the end of it all. An average of 68% of the 3,400 banking professionals in the UK, US, Middle East, France and Germany responding to […]
‘Tragedy of wasted minds’ as young quietly crave becoming bankers
It seemed to mark the end of an era. Last week’s research from YouGov suggesting that only 2% of British university students now want to be bankers suggested the end of youthful materialism and the start of something a whole lot more wholesome, like professional knitting. In fact, however, YouGov may have over-egged its end-of-banking […]
Careers advice from Aberdeen’s Martin Gilbert
Martin Gilbert, CEO of Aberdeen Asset Management, has been at the helm for 27 years, so the question of his retirement is one he’s often asked. Until recently, his response was to say that he’d step down when Alex Ferguson leaves Manchester United, but he’s been quick to back-track. “It was a terrible blunder to […]
Late Lunchtime Links: Where to find an equities job at SocGen, Nomura or Unicredit
The pain has probably not passed in equities. According to a report from Morgan Stanley and Oliver Wyman, there will be more redundancies in banks’ equities teams this year. As we noted this morning, Nomura laid off a lot of equity researchers in March (and then hired one of then back again). And yet, there’s […]
Ex-Merrill Lynch big hitter Crocker leaves Abu Dhabi Islamic Bank
Stuart Crocker, global head of private banking and wealth management at Abu Dhabi Islamic Bank and Merrill Lynch veteran, has left the bank, according to sources close to the situation. In the battle for the vast, and growing, pool of Middle Eastern wealth, regional private banks were supposed to be making a challenge to the […]
Why Jamie Dimon Shouldn’t Have Anything to Worry About, But Still Does
One of the great allures of Wall Street is that it is a bottom-line business, or at least it was. Bank share prices tended to follow book value rather hypnotically, and assessing executive performance was based almost solely on metrics. Now, with the financial collapse still fresh in the minds of investors, Wall Street has […]
Equities upset at Nomura as laid off banker gets miraculously rehired
Nomura’s equities business has not been a happy place to be. As we were first to report in March, the Japanese bank cut around 20 senior equity research staff shortly before bonuses were due to be paid. Now, it seems one of them has been reinstated. Headhunters said Nick Coulter, a food retail analyst, who […]
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