FI
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, [...]
How to ensure your CV is read by the robots
Recruiters report that due to the overwhelming supply of talent today, desperate job seekers are flooding every position—but that 50% or more of applicants are unqualified for the position to which they are applying. To save companies time and money, the hiring process has been almost entirely automated. Most large firms will now use software [...]
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 [...]
By 2014 London salaries at Goldman Sachs may be £2m, salaries at Citi may be £1.5m, salaries at Barclays £650k and salaries at Deutsche £550k
Starting at 4.30pm today, the EU Parliament’s Monetary Affairs Committee will debate and then vote upon the proposal that banking bonuses should be restricted to no more than 100% of banking salaries. By all accounts, they’re likely to vote in favour of the move. Members of the Monetary Affairs Committe include various prominent socialists: You [...]
This is the new man implicated in JPMorgan’s loss. This is the risk manager who’s going to rectify the problem. These are the fears for JPMorgan’s bonuses
Heads will roll. Bloomberg reports this morning that the entire London staff of JPMorgan’s chief investment office (CIO), numbering ‘several dozen’ are at risk of dismissal. Bonuses in London will fall, maybe by 50%. Seal Team 6 risk managers have been summoned to sort out the mess. Things at JPMorgan Europe are going 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 [...]
10 important repercussions of JPMorgan’s CIO blow-up
If you don’t know already (which is unlikely), JPMorgan has fallen suddenly from its pedestal of earning an average of more than $4bn a quarter for the past two years. The bank held a conference call last night to coincide with the release of its Form 10q to confess that it will post a loss [...]
GUEST COMMENT: How to send out three hundred job applications for an equity trading job, and still get nowhere
I have a friend who was a junior equities trader. He joined the bank straight out of university, worked there for a few years and was made redundant. Four months into his redundancy, we spoke and he mentioned to me that he’d submitted more than 300 job applications. I didn’t totally believe this and asked [...]
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 [...]
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