eFinancialCareers

Inducing recruiters to pay attention to you is a lot like borrowing money. If you don't ask until you desperately need it, then you're sure to be rejected. So if your current job isn't on the chopping block yet but might get axed next year, now is the time to reach out to people who can open a door to new opportunities. A recent Forbes article offers several tips for attaining... Read more

Barclays Capital promised to pay the full accrued bonus amounts and maintain current terms of employment – including severance in case of dismissal – for some 10,000 U.S. employees of Lehman Brothers, if Barclays' proposed purchase of Lehman's U.S. investment bank takes place. Citing documents filed with the U.S. Bankruptcy Court in New York, Financial News reports that Barclays agreed to pay 100 percent of the accrued bonus pool for transferred... Read more

Another platoon of the newly jobless is set to flood Wall Street in the wake of Lehman's Chaper 11 filing and Merrill's acquisition by Bank of America. Monday's bankruptcy filing by Lehman Brothers Holdings and the surprise deal for Bank of America to acquire Merrill Lynch will each trigger mass layoffs, Wall Street headhunters say. Although it's too soon to estimate how many jobs will be lost in the restructuring of... Read more

Some 10,000 Lehman Brothers employees in investment banking and capital markets businesses got a reprieve when Barclays agreed to buy the insolvent parent company's core assets within North America. UK-based Barclays said Wednesday it agreed to acquire Lehman's North American investment banking and fixed income and equities sales, trading and research operations, along with Lehman's New York headquarters building and two New Jersey data centers. According to Lehman, the definitive agreement... Read more

If you're a financial services professional hoping to land a job in a bulge-bracket institution, your prospects just nosedived. And if you've been aiming for a slot in a hedge fund or in one of the many boutique banks that are still hiring, get ready for a flood of new competition. Monday's bankruptcy filing by Lehman Brothers Holdings and the surprise deal for Bank of America to acquire Merrill Lynch will... Read more

Royal Bank of Scotland said it hired Christiane Mandell from Bank of America as head of FX and local markets trading for the Americas, a new position that rounds out RBS’ senior management team in its U.S. sales and trading business. Mandell led the global foreign exchange group at Bank of America. In her 18 years there, her past roles included head of investor client management for debt and equity, head... Read more

Even in today’s shrinking economy, some career coaches say liberal arts degrees can still pave the way to a successful career in financial services. Former Merrill Lynch campus recruiting head Connie Thanasoulis told the New York Daily News that the skills obtained in English literature and other arts degrees can be an ideal training ground for finance and management. She points to a job like a research analyst, heavy on writing,... Read more

Lehman Brothers ousted its international banking and global fixed-income division chiefs, and announced a $3.9 billion quarterly loss and another mass layoff. Merrill Lynch, RBS Greenwich Capital and Wachovia joined the lengthening list of institutions hiring recent Bear Stearns alumni for senior roles. JPMorgan ceased dealing in municipal interest-rate swaps. Lehman Brothers replaced the heads of its international and fixed-income businesses, as the firm struggles to raise capital and announced... Read more

Wachovia Securities said it hired former Bear Stearns fixed-income co-head Craig Overlander as its global head of fixed income. Starting Sept. 15, he'll be based jointly in Charlotte and New York and will report to Ben Williams, head of global markets and investment banking. Overlander is the latest in a long list of senior-level Bear Stearns alumni landing prominent roles at other financial institutions, both buy-side and sell-side. He spent 26... Read more

Lehman Brothers replaced the heads of its international and fixed-income businesses, as the firm struggles to raise capital and is expected to announce next week a quarterly loss and its fourth mass layoff of 2008. The latest appointments "are likely to trigger further management changes," according to the Financial Times. Lehman named Riccardo Banchetti and Christian Meissner as co-chief executives of Europe and the Middle East. They replace Jeremy M. Isaacs, who... Read more

RBS Greenwich Capital said it hired 16 mortgage-backed securities traders and sales people, all but one of whom came from Bear Stearns. The highest-ranking among the group, Scott Eichel, was named co-head of asset-backed and mortgage trading, alongside of RBS veteran David Cannon. The RBS release confirms media reports from late June that Eichel had agreed to join the Royal Bank of Scotland subsidiary. He had co-led mortgage-backed and asset-backed bond... Read more

Merrill Lynch hired mortgage securities executives from JPMorgan and Citigroup to lead securitization and trading operations. Michael Nierenberg joins Merrill as global head of mortgages and securitized products. He headed global securitized products at JPMorgan since the acquisition of Bear Stearns, where he'd led various fixed-income trading desks since the mid-1990s. Before joining Bear Stearns, Nierenberg spent seven years at Lehman Brothers and was instrumental in building up that firm's adjustable... Read more

Boston draws job seekers from outside the region, even in times of economic uncertainty. Many of the people who want to move to the region already have ties to it and seek to return to where they went to college or grew up. On top of that, the perception is New England financial firms are weathering the current turmoil better than their counterparts on Wall Street. Further adding to the area's appeal... Read more