HK
Company: Citi
Sectors explained – Sales, Trading and Research
Every day, millions of financial products are bought and sold in the secondary markets where traders, salespeople and researchers trade for clients after a security’s initial issue. In the secondary markets, salespeople advise clients on investment opportunities, while traders buy and sell securities. The secondary markets are divided into equities (stocks and shares) and fixed [...]
Sectors explained – Operations
If you delve into the murky world of investment banking, you will soon hear the terms ‘front office’, ‘middle office’ and ‘back office’. When people talk about the front office, they’re talking about the ‘sexy’ areas of investment banking – mergers and acquisitions or sales and trading. When people talk about the middle office, they [...]
Don’t go to Singapore any more to find a permanent banking IT job (but do if you fancy becoming a contractor)
Finding finance tech work Singapore in the current quarter is a tricky business as the flow of new jobs slows to a trickle, but there is hope in the form of contracting and replacement roles. “Over the last two months there has been a definite slowdown in recruitment. Major employers in Singapore have made a [...]
Almost every bank in Hong Kong is now cutting jobs
The festive period promises to be awfully gloomy, with several banks in Hong Kong laying off staff in the past two weeks. For some firms the November cuts will the final round, although some recruiters expect one more cycle before bonus payouts. Chop, chop, chop This week Nomura began cutting FIG employees in Hong Kong [...]
Guest Comment: Banks should employ ‘ethical rogue traders’ to hack their own systems
Authorised attacks on bank systems may be the best defence against ‘rogue traders’. All organisations undertake risks in their activities. Take for example the collapse of Enron through fraud, which cost shareholders US$11bn, and BP’s Deepwater Horizon oil spill disaster, where losses are estimated at US$5bn. When controls fall short However, unlike many sectors, banks [...]
Daily Dispatches: Dr Doom warns of more financial firms collapsing, MF Global style
Economist Nouriel Roubini, aka Dr Doom, says Goldman Sachs, Morgan Stanley, Barclays and Jefferies could meet the same scary end as MF Global thanks to the prevalence of short-term financing. (Forbes) November marks the start of even more job cuts in Singapore’s foreign banks. (Channel NewsAsia) Upcoming Wall Street bonuses will be slashed by as [...]
Career case studies: Risk management analyst
Ying Gu graduated in 2007 with a Bachelor of Economics from the Shanghai Institute of Foreign Trade. She then completed a Masters in Statistics at Columbia University, New York, in December 2008. She joined the Citi Global Risk Analyst Program in 2009, and is currently based in Hong Kong. What made you move into risk? [...]
Back-office jobs under threat at Singapore investment banks
We heard about redundancies in Hong Kong some time ago, but news of layoffs in Singapore’s financial sector have only hit the headlines recently. The Business Times reported that Bank of American Merrill Lynch (BoAML) and UBS have both fired i-bank staff. And other firms like HSBC have confirmed the restructuring of their Singapore business. [...]
Daily Dispatches: BlackBerry blackout
Research In Motion scrambled to restore service to millions of BlackBerry users around the world Wednesday as the company’s worst-ever outage vexed office workers, government officials, emergency responders and others who rely on the messaging device. (Business Week) Just what is S.1619 trying to achieve? Strip out the legalese and righteous indignation from the US [...]
Daily Dispatches: Rainmakers at UBS are being eyed by rivals; DBS ramps up its private banking game
UBS’s star bankers are very likely to get poached thanks to the rogue trading scandal and the prospect of tiny or non-existent bonuses. (Reuters) DBS is spending S$250m to expand its private banking business in Singapore and Hong Kong over the next five years. (Channel NewsAsia) A look at UBS vis-à-vis Lehman. (Forbes) UBS and [...]
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