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Posts by Paul Clarke
Evidence that Norway and Sweden has some very skilled traders
We’re a little late on this, but the emergence of the ‘Robin Hood’ day traders in Norway and Sweden, who managed to profit from the flaws in algorithmic trading programmes, reignites the old man versus machine debate. Trading floors of investment banks have, of course, been cut back to the bone because of the rise [...]
Local expertise will be invaluable for international private equity firms entering the Nordic region
The appetite to recruit private equity professionals in the Nordic region is increasing as more and more international companies look to enter the market. In the last month private equity firms Advent International and HIG Europe have made some key hires in the Nordics, and the expectation is that more global firms will look to [...]
Norway’s oil fund ranks second among its peers
Unlike its Middle Eastern peers, Norges Bank Investment Management, the investment arm of Norway’s sovereign wealth fund has never been one for massive recruitment drives, but new figures suggest that the fund remains a major player on the global stage. The Sovereign Wealth Fund Institute has just released its latest fund rankings, and Norway’s Government [...]
Handelsbanken is spending more on its investment banking staff, but bonuses are still being cut back
For a bank that prides itself on conservatism, Handelsbanken is displaying some adventurous characteristics. Firstly, there’s its UK expansion – it intends to add a new branch there every eight days after strong revenue growth. Then there’s its capital markets business, where cost income ratios are starting to look worryingly high. Revenues within Handelsbanken’s capital markets [...]
SEB is expanding – in Asia
Compared to the first quarter of 2011, it’s been a decent start to the year for SEB’s Nordic-based corporate and investment banking business. It’s expanding…but restricting this to Asia. This division offers services to clients in the Nordic region and based in Germany, but is expanding in Asia in order to “support German and Nordic [...]
Nordea is cutting staff quicker than expected, but appears to be paying its investment bankers more
The first quarter of this year has been relatively positive for Nordea, with net profit the period increasing by 4% to €775m. Despite this, it’s ahead of schedule in achieving its ‘New Normal’ target of reducing staff numbers by 2,000, but appears to have loosened the purse strings for its wholesale banking employees. So far, [...]
So far, the majority of Nordea’s wholesale banking cuts have hit Russia
Nordea is still implementing around 2,000 job cuts and, as we’ve pointed out previously, is relying on voluntary redundancy and natural attrition. So far, its investment bank has been relatively unscathed – in the Nordic region at least. Around 1,100 people have left the bank, but year-on-year its wholesale banking headcount is down by just [...]
SEB employs more women than men, bonuses are shrinking and other reflections on its annual report
Like many European banks, SEB is being more open with the political hot potato of compensation, and it’s revealed that bonuses are starting to tumble. SEB’s annual general meeting was yesterday, along with the publication of its annual report. It’s keen to point out that bonuses are becoming less of a feature of its [...]
You really don’t want to be working in the back office of a Nordic investment bank
We’ve mentioned previously that there’s an argument for some of the Nordic investment banks to start paring back headcount in the front office, but it seems that the back office is still target for the majority of cuts. Carnegie Investment Bank has told Bloomberg that it’s planning on making eight people in support functions in [...]
Good news for any Swedes seeking debt capital market jobs
Employment prospects for the debt capital markets teams within Sweden’s investment banks could be given a boost this year by a new-found taste for issuing corporate bonds by local companies. Companies in Sweden have traditionally relied on bank lending, which has become more expensive and difficult to secure as local banks look to shore up [...]
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