FI
Financial services headhunters are sloshing about, looking for work, as recruiting slumps
Financial services headhunting is falling. Financial services headhunters are reportedly emerging in search of work. Research from the Association of Executive Search Consultants suggests the number of new financial services searches taking place globally fell 14.2% year-on-year in the first quarter. Worse: the first quarter of the year is typically the most active, but this [...]
A whole new FX-focused bank has opened in London, and other stories of big hiring in FX businesses
Tens of thousands of jobs may be disappearing in the City of London, but there is still hiring in FX. Swiss-based online FX trading specialist MIG Capital announced the opening of its new office in the City last week. The FSA register shows that MIG currently employs only four registered people in the City, but [...]
GUEST COMMENT: The problem is, it’s too frightening to resign from a financial services job
If you still have a job in the City then you have something in common with the great novelist, Fyodor Dostoyevsky. In 1849, the writer was about to be shot by a firing squad for dissent when, at the last moment, he was pardoned by the Czar. Living with the threat of layoffs is like [...]
11 of the 24 people getting payouts of €500k+ from the Commerzbank case don’t seem to be working now
Commerzbank is paying out. Some people stand to make a lot of money. As per the list we previously published from Financial News, this is who they are, what they were doing at Commerz/Dresdner and what they appear to be doing now. According to the FSA register, 11 of the people due six figure payouts [...]
Q&A: The Russian chief executive of a $100m hedge fund says if you really want to make it, you need to work for yourself
We spoke to Slava Rabinovich, CEO of Moscow-based Diamond Age Capital Advisors, a hedge fund with $105m under management. This is what he told us about his career, and life in general. How did you come to work in the Russian hedge fund sector? In 1996, I was about to graduate from the Stern School [...]
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 [...]
Goldman Sachs’ business model is in a state of transformational change. This is what you need to know
When analysts at Bernstein Research put out a note on Goldman Sachs’ business model after Goldman Sachs’ first quarter results, they said the firm was “modifying” itself but was afraid to say so publicly for fear of upsetting some of its most powerful employees. Goldman’s “partnership culture – whose shared values and cultural traditions have [...]
Q&A: Mike Connarty, director of international investments at Standard Life, advocates learning Mandarin if you want to get ahead
Mike Connarty is based in Edinburgh but he’s an international figure in financial services. As director of international investments, Mike manages Standard Life’s fast-growing joint venture investments in India and China. If you want to work for him, you’ll need a genuinely international outlook – and ideally the capacity to speak Mandarin. Q: How long [...]
Want to work for a successful FICC sales and trading business that’s taking more risk? Try SocGen. Also: an update on French banks’ voluntary redundancy programmes
Forget Morgan Stanley and its 34% year-on-year increase in fixed income trading revenues. Forget Goldman Sachs and its mitigating factors. Forget JPMorgan. If you want to work for a bank that’s outperformed the rest in fixed income so far in 2012 AND is willing to take risk where appropriate, think: SocGen. SocGen’s first quarter results [...]
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 [...]
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