GF
Sector: Trading
More and more brokerage firms are saying bye-bye to Dubai
Working for a brokerage firm in the Gulf has been something of a perilous affair for a couple of years now, but depressed trading volumes in the first quarter of 2011 have seen more firms shut up shop. There are now just 65 brokerages operating in the UAE, compared with 103 at the beginning of [...]
The UK hedge fund training the Libyan financial services professionals of tomorrow
With current Libyan regime looking increasingly unsteady, more scrutiny is being paid to the international firms who have backing from the country’s sovereign wealth fund, the Libya Investment Authority (LIA). The $70bn SWF has, after all, been an increasingly ambitious international investor, holding stakes in Fiat, Unicredit, FT-owner Pearson and even Juventus football club. Many [...]
London is still the best bet for students from emerging markets (provided you can secure a visa)
For all the hype around the growth potential of emerging markets, and talk of a looming banker exodus from the City, London arguably remains the best place for students from foreign climes to launch their investment banking career. If graduates from emerging markets want to make a significant contribution through an investment banking career in [...]
Standard Chartered’s hires point to a growing appetite for FICC traders
Standard Chartered’s decision to bolster its FICC trading team in Dubai is indicative of a sector that is slowly heating up in the Middle East. The bank has announced five senior appointments within its FICC team within the DIFC, and has said that it plans to expand its platform in the GCC in the future. [...]
Who is Jan Sramek?
Jan Sramek, the Goldman Sachs wunderkind, who last year made it onto the Financial News’ list of top bankers under 40 aged just 22, has been awarded another accolade: he is also now deemed one of the world’s top three traders under 30. So who is Mr. Sramek – now aged 23? Unfortunately he’s currently [...]
Obama’s banker bashing: will the Middle East benefit?
As the world digests Obama’s Glass-Steagall for the 21st Century, are there any possible implications for financial services employment in the Middle East? Obama sent shockwaves through Wall Street yesterday after revealing his intentions to…“work with Congress to ensure that no bank or financial institution that contains a bank will own, invest in or sponsor [...]
GUEST COMMENT: I’m a prop trader and I don’t give a damn about the Volcker Rule
I’m a senior prop trader working within a bank. I’ve been in this profession since 1993, both before Glass Steagall and after. In my opinion, the rules announced yesterday are meaningless. First, they’ll take three to five years to go through, by which time they will have changed beyond recognition. Second, there will be regulatory [...]
Bad times for independent brokers
Many smaller brokerage firms in the UAE are being forced into lay offs, suspending their operations or shutting down altogether as things take a turn for the worse in the third quarter. It’s been a pretty grim year so far for the vast majority brokerage firms – just 13 of the 99 firms registered with [...]
Electronic trading (slowly) making its way to the Middle East
There are tentative signs that the electronic trading revolution is making its way to the Middle East, with both banks and technology vendors beginning to target the region. But, although it threatens to take off in the future, hiring is so far very limited. Richard Bentley, vice president, field technical services at Progress Software – [...]
International hiring freeze beginning to defrost?
It’s possibly a naïve point of view, bearing in mind recent cut-backs in the GCC, but it seems that there might still be some hiring opportunities within international banks in the region sometime soon. OK, so Jefferies closed its Dubai office, and the likes of Credit Suisse, Goldman Sachs and Morgan Stanley have announced redundancies [...]
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GUEST COMMENT: This is what you’ll need for the perfect private equity CV
