IE
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 [...]
A bad end to the week: More redundancies at Bank of Ireland, uncertainty at National Irish and Northern Bank
The unsettled outlook for Irish banking continues. Bank of Ireland announced today that it plans to make another 600 redundancies in addition to the 750 it announced two years ago. Of those 750, only 350 have already taken place (in the form of voluntary departures), leaving another 400 to go. In total, that means BofI [...]
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 [...]
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 [...]
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 [...]
Heads of recruitment at investment banks and fund managers give their verdicts on pay and hiring for 2012
This morning we held our quarterly roundtable in London for heads of recruitment at financial services firms. Numerous investment banks’ heads of recruitment were present. So were some fund managers’. The event was confidential, so we’re not at liberty to disclose who exactly was there, nor what was discussed on a bank-specific basis. Generically, however, [...]
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 [...]
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