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An international Islamic investment bank is looking to expand in the Middle East
For all the pomp around Islamic finance, it’s still rare that a dedicated Islamic institution actively talks up expansion plans, particularly in more sophisticated areas of the industry. However, Bank of London and the Middle East is moving into the region and talking about growth, particularly in its private and corporate banking business, according to [...]
GUEST COMMENT: I passed all three levels of the CFA in 18 months. This is how I tackled Level III
I’ve already written about my tactics for passing CFA Levels I and II. Now I’d like to share my method of passing CFA Level III. As I’ve pointed out on previous occasions, I managed to pass all three levels in a period of 18 months. The big problem with Level III is complacency. You get [...]
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 [...]
Last week, the CEBR predicted bonuses will fall 48%. This week, a renowned pay consultant says they’ll rise
Alan Johnson, the Wall Street pay consultant who works with numerous Wall Street banks, and Credit Suisse has produced his first set of bonus predictions for 2012. Given his exposure to actual banks, you’d think Johnson knows what he’s talking about. This is good, because he thinks bonuses will increase in 2012. Johnson thinks FICC professionals [...]
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 [...]
The unspoken nightmare faced by non-EU nationals working in the City of London today
Many non-EU nationals working in the City of London are being heavily penalised under new immigration rules which came into force in April. Most notably, a high proportion of non-EU nationals who lose their jobs in the City of London are now obliged to leave the country for a year before they can come back [...]
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 [...]
Is there more pain to come for UAE brokerages?
Brokerages in the UAE have, of course, had a tough time over the last two years, with slumping trading volumes leading to mass closures and heavy redundancy announcements. Could there be more to come? In the first quarter of this year, despite the uptick in trading volume on UAE bourses, brokerages lost a collective AED10m. [...]
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 [...]
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 [...]
