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Incidentally, headhunters are warning of impending redundancies in FICC businesses
Now that FICC businesses aren’t going to be a big investment banking growth engine after all this year, it was probably only a matter of time before the oracles of FICC redundancies came out from their caves. And now they’re here. “Any hiring in FICC went very quiet a few weeks ago,” claims the head of one [...]
Nightmare for junior corporate financiers with private equity aspirations: banks are identifying and pre-emptively sacking them
There’s one thing worse than being an analyst or 1st year associate spending your every waking hour on pitchbooks, and that’s being an analyst or associate spending your every waking hour on pitchbooks whilst trying to time for interviewing with private equity funds. Recruiters working with private equity funds in London say there’s a lot [...]
Does Goldman Sachs need to hire some new salespeople and researchers?
Things are not what they used to be at Goldman Sachs. As we reported a few weeks ago, transformational changes are reportedly taking place there, changes which are mostly alleged to involve a big focus on electronic trading and quiet culling of superfluous salespeople and trading staff. However, a comment in Financial News today suggests [...]
If you work anywhere in investment banking, you should familiarise yourself with Stuart Gulliver’s vision of the future
Today is HSBC investor day. Stuart Gulliver made a presentation. So did Sean O’Sullivan (COO) and so did Ian McKay (CFO). You may think HSBC is no massive deal in investment banking. But this would be wrong. In the first quarter, net revenues in the investment bank were $5.6bn, versus $8bn at Citi, and $4.7bn [...]
Q&A: JPMorgan’s Asia Pac CTO says JPMorgan is hiring 100 technologists in Singapore and that people like working there so much that only 3% leave
We spoke to Stewart Carmichael, chief technology officer of JPMorgan in Asia Pac. This is what he told us. Q: Did you always want to work in financial services? No, I originally joined a technology firm because I was looking to leverage on the education I had in computer science. Twenty five years ago, there [...]
Goldman’s global head of growth markets succinctly explains how investment bankers can ensure they’re never without work in future
Goldman Sachs has been making videos and placing them on YouTube. They don’t appear particularly popular: some only have a handful of hits. Some appear to have none at all. However, this one, featuring J. Michael Evans, its global head of ‘Growth Markets’, deserves some attention. In it, J. Michael volunteers a perspective on what [...]
Heads of recruitment at investment banks and fund managers give their verdicts on pay and hiring for 2012
This morning we held our quarterly roundtable in London for heads of recruitment at financial services firms. Numerous investment banks’ heads of recruitment were present. So were some fund managers’. The event was confidential, so we’re not at liberty to disclose who exactly was there, nor what was discussed on a bank-specific basis. Generically, however, [...]
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 [...]
JPMorgan London is said to be an immensely political place to work. However, its people are not going to leave
What with the alleged paranoia about bonuses at JPMorgan falling 50%, you might think its London staff would be queuing up to leave. You would be mistaken. In the current environment, most headhunters say JPMorgan’s woes will make absolutely no difference to its staff turnover. “There’s so little poaching going on, that – to be [...]
Guy Hands is paying £286k retention bonuses and private equity hiring is up more than one third
Private equity has long been the holy grail of financial services careers. This may be changing with today’s revelation that Guy Hands is so stuffed he’s having to sink £20m or one fifth of his personal wealth into Terra Firma in the form of guaranteed bonuses to stop people leaving, but still. According to our [...]
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