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Posts by Sarah Butcher
Disaster for anyone not working in the private client or asset management business at Bloxham
With Bank of Ireland, AIB and Ulster Bank making redundancies (albeit not all in broking), now is not the time to lose your job at an Irish investment banking and brokerage firm. Unfortunately, this is what’s happened to 30 of the 70 staff at Bloxham. Following the discovery of accounting anomalies, Bloxham was [...]
Needed in Ireland: Expertise in implementing Solvency II
In 18 months’ time, Ireland’s insurers will need to have implemented the European Union’s Solvency II directive stipulating that insurers have to hold far stricter capital reserves in response to the risks they underwrite. In the UK, the response has been fevered recruitment of solvency II practitioners, often on a lucrative contract basis (up to £2k [...]
You may now submit your request for voluntary redundancy at AIB
It’s finally happened: yesterday, AIB started accepting applications for voluntary severance. The bank will reportedly be offering its 2,500 staff four weeks’ pay per year of service, including their statutory entitlement, or three weeks’ pay per year of service, plus statutory entitlement. Severance pay will be capped at two years of annual salary, or €225k [...]
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 [...]
Are Irish financial services professionals simply too expensive?
Yesterday, we held our roundtable for banks’ heads of recruitment in London. We’re not at liberty to say precisely who attended and precisely what was said about particular organisations, but we can report this: Ireland is seen as an expensive place for investment banks to locate their back office functions. One head of recruitment said [...]
Meet Jonathan McMahon, the man with the hottest skillset in Ireland
If you’re wondering what sort of person is particularly sought after in Irish financial services at the moment, you could do worse than looking at the CV of Jonathan McMahon, the former head of financial institutions for the Central Bank of Ireland. McMahon has just moved to Mazars, the accounting firm, as global head of [...]
10 important repercussions of JPMorgan’s CIO blow-up
If you don’t know already (which is unlikely), JPMorgan has fallen suddenly from its pedestal of earning an average of more than $4bn a quarter for the past two years. The bank held a conference call last night to coincide with the release of its Form 10q to confess that it will post a loss [...]
It’s ok, Aviva won’t be cutting as many jobs as planned
400 people at Aviva in Ireland have been reprieved: after declaring its intention of cutting 950 jobs last year, Aviva’s suddenly had a change of heart. Suddenly, it’s only letting go of 500-550 people and all the redundancies will be voluntary. As an incentive to disappear, Aviva’s offering those 500 people six weeks’ pay per [...]
If you want to work in M&A in Ireland, these are the sectors to seek and to avoid
Typically, M&A bankers are sector-focused. Some banks, such as Bank of America Merrill Lynch, are said to be pooling their junior bankers in generic sector teams, but for the most part sector-specialism remains the rule. The new Irish M&A tracker survey from NCB Stockbrokers highlights which M&A sectors are active in the Republic, and which [...]
Are Irish agri-investing careers where the growth is?
If you want to get ahead in private equity in Ireland, you may wish to consider a career in the country’s growing ‘agri-food’ sector. AIB has just launched a new €250m investment fund focused on agri-food investments, including €100m for on-farm capital investment; €100m for working capital; and €50m for asset finance. Agricultural is an important growth [...]
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