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Everything we know so far about bonuses and deferrals, bank-by-bank
As a follow-up to our earlier article on the state of bonuses, cash caps and deferrals on a bank-by-bank basis this year, here’s what we know now. Feel free to email us at Editor@eFinancialCareers.com or to leave a comment if you know additional details that we don’t. Bank of America Cash bonus cap? Yes, but it [...]
The Middle East is the only region where headcount has INCREASED at UBS
The fourth quarter of 2011 was not a good one for UBS – profits have tumbled by 76% year-on-year, its investment bank has posted another loss, headcount is being slashed and the bonus pool could be down by as much as 60%. Yet in the Middle East and Africa, where it admittedly employs a comparatively [...]
Disaster as the UBS investment banking bonus pool is reduced by at least 60%, making zeroes inevitable
After all the waiting, the worst seems to have come to pass. Still ensconced in Wandsworth prison, Kweku Adoboli appears to have precipitated a 60% (minimum) reduction in the UBS investment banking bonus pool. The figures are given in a confusing graph included in today’s investor presentation. Shown below, this shows the portion of the [...]
Disaster in Abu Dhabi as local investment firm gets rid of 50% of its staff
Yes, there have been redundancies in the Middle East. Equity research jobs have been cut. Shuaa Capital and Hermes announced some job losses last year, along with various international banks. Global Investment House and Kipco Asset Management announced nearly 100 job cuts in January. But, as far as we know, there haven’t been any other cuts [...]
GUEST COMMENT: A simple trick that will suggest you are busy and reduce the risk of job loss
“What are you DOING? Listen, read research on your way to work in the mornings or heading home in the evenings. Or on the weekend! I don’t want you wasting your time. Right now you should be doing something to help the team get a mandate so we can get paid. Otherwise I can’t fight [...]
THE UAE ADVISER: Prove to the business that you’re not a cost centre
The attitude towards HR among the upper echelons of Middle Eastern financial institutions is so antiquated it wouldn’t look out of place in an episode of the Flintstones. Shortly before Christmas I sat in on a senior management meeting at a large regional financial institution. When the HR director suggested that his division should be [...]
GUEST COMMENT: This is what you’ll need for the perfect private equity CV
What should you have on your CV if you want a job in private equity? An equally valid question is what should you not have on your CV if you want a job in private equity? And that answer is too much detail: it’s not your autobiography; keep it simple, brief and relevant. You need [...]
Who hired in the Middle East in January?
For the time of year, the number of new hires announced in the Middle East financial sector was relatively modest, with a focus on wealth management or very senior recruitment. Barclays has unveiled Kersi Patel as head of trade and working capital. He joins from HSBC. Barclays Wealth has announced the appointment of Faisal Shaker [...]
Should you really go with the FT’s new MBA ranking? Or is there a better, more finance-focused alternative?
You’re thinking of doing an MBA in financial services, but where should you study? The Financial Times’ 2012 MBA ranking is out today. It ranks the top 10 global full time MBA programmes in 2012 as follows. The FT’s 2012 full time global MBA ranking: Stanford Graduate School of Business Harvard Business School University of [...]
GUEST COMMENT: I quit banking for baking and I have no regrets
Anyone working in the financial sector in Dubai doesn’t need telling that it’s currently a tough time, particularly for those in a broking function. The lack of trading volume has hit many firms hard – the number of brokerage firms in Dubai has halved over the past year – and few institutions have the wherewithal [...]
