HK
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This is not a nice dragon: More job cuts may come after Chinese New YearIf you are heaving a sigh a relief that you have managed to hold onto your job as we enter the Year of the Dragon, here is some rather inauspicious news: investment banks in Asia are not quite done with their cutting. Simon Roberts, managing director, Sheffield Haworth, says: “I don’t think the bulk of [...] |
The Insider: Here’s my short and not so sweet view of the Hong Kong employment market
Daily Dispatches: Credit Suisse bankers in Asia ought to be grateful they aren’t in the West
Why your employer could fire you, but then help you with your job hunting
GUEST COMMENT: How to rework your CV for roles outside the financial services industry
Daily Dispatches: Morgan Stanley’s James Gorman tells complaining bankers to grow up (well sort of)
Unhappy over pay cuts? Morgan Stanley CEO James Gorman has this advice for you. “You’re naive, read the newspaper, number one, number two, if you put your compensation in a one-year context to define your overall level of happiness, you have a problem which is much bigger than the job. And number three, if you’re [...]
Looking back, would I choose to take the CFA again? Probably not. It simply doesn’t justify the effort
Through sheer (read, brutal) discipline and some luck, I was able to pass all three levels of the CFA programme. Honestly, the course isn’t rocket science. The daunting task is really to cover the entire syllabus – six textbooks per level – and then remember the contents at least until you are through with the [...]
Daily Dispatches: Citi cuts in India; Morgan Stanley promotes fewer MDs
The Indian unit of Citigroup will eliminate about 100 jobs as it restructures its local business, part of a global plan to axe roughly 4,500 jobs globally. Citigroup is among several banking groups that are tightening their belts through Citi India, which employs about 7,000 people, didn’t specify where the cuts would be, saying they [...]
My Masters: Yes, taking time out to study IS worth it. Here’s why it’s working for me by boosting my financial knowledge
A blink of an eye and I’m halfway through my term at London Business School. A question that some friends ask me is whether my time here is really worth the expense and opportunity cost. My answer is an unqualified yes. One of my key goals in taking time out from the workforce has been [...]
Redundancies and hardly any jobs: It’s an anxious start to 2012 for Asian equities
Asian equities has been a rather unpopular and depressing place to work in of late. Last week, RBS announced significant cuts to its equities division across Hong Kong, Singapore and Japan, along with plans to sell off its Asian cash-equities operations. Spain’s BBVA has also downsized its equity derivatives team from 26 to 12 in [...]
Daily Dispatches: Goldman Sachs profit slump isn’t actually that bad; J.P. Morgan hires new APAC head of ECDM
It could have been much worse for Goldman Sachs, which reported a 58 per cent drop in fourth-quarter profit amid a slump in trading and investment-banking revenue. But the fact that analysts and investors cheered the performance shows how much has changed since the financial crisis, even at the firm long envied as one of [...]
Asia looks likely to avoid ANZ’s axe
Hundreds of mainly back-office staff are set to lose their jobs at ANZ, but most of the roles will go in Australia not Asia. In fact, in some Asian markets, such as India, the firm’s headcount may expand as a direct result of the Australian axings, and hiring will continue across the region, all be [...]
Daily Dispatches: Awful bonuses expected at Morgan Stanley and Citigroup
Bonuses will be drastically slashed at Morgan Stanley, with payouts capped at US$125k. Some top executives may also have payouts deferred till year end. (The Wall Street Journal) Similarly, bonuses are not expected to be generous at Citigroup, which has reported miserable results. (The Independent) ANZ has kicked off job cuts in Australia. The firm [...]
Watch out underachievers in Asia: Banks are set to focus bonuses on star talent as the compensation gap widens
We’ve seen the headlines about Asia fighting hard to keep its top banking talent. Yet at the same time we hear incessant warnings that bonus pools will shrink. This begs the question: how can firms retain their star performers during these cost-conscious times? Money remains the perennial carrot it seems.CNN reported last week that the [...]
Daily Dispatches: Gloomy news Down Under with predictions that 7,000 banking jobs will disappear
Australian banks will apparently cut 7,000 jobs over two years to offset its weakest credit growth since World War II, says UBS. (Bloomberg) Bank of America Merrill Lynch continues to fire senior people. After retrenching Michael Cho, its Asian co-head of mergers and acquisitions last week, it laid off another two MDs from Australia on [...]
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