eFinancialCareers

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

Is your resume grammatically correct? For many job seekers, writing a flawless resume is difficult enough, yet nothing is more important. If it contains grammatical errors, reviewers may surmise you're uneducated, lack good communication skills or attention to detail. Creating a grammatically correct resume requires knowledge of basic grammar, proofreading skills and familiarity with the nuances of resume composition. Not everything you learned in English 101 applies to resumes. "The... Read more

Review panel concludes that Canadian central bank's low salaries hurt research quality. Prospective buyers of Lehman funds division fret about cost to retain staff. UBS reorganization may shift bonus money from investment bankers toward wealth managers. *** Canada's central bank would have to boost starting pay for economists by 16 - 22 percent to realize its stated objective of fielding a "second-to-none" research department, according to a report by a panel of... Read more

A corporate reorganization unveiled by UBS this month could channel a greater share of the company-wide bonus pool toward private bankers, at the expense of the struggling investment banking division. The bank said it will separate its business divisions into three autonomous units and "will align incentives for management and staff of each autonomous business division directly with its financial results" and degree of risk. "The new business model will enhance... Read more

The threat of defections is reportedly shaping up as a critical obstacle to Lehman Brothers' move to shore up its balance sheet by selling a controlling stake in its asset management division. Multiple scenarios for Lehman Brothers have moved in and out of focus in recent days, running the gamut from asset sales to an Asian strategic partner to a hostile takeover. The swirl of disparate media reports reflect an institution... Read more

To the gunslingers hauling in the revenues on the trading floor, it might seem obvious that they’re paid more than the bank's back-office staff. But a recent report suggests this imbalance is unfair and should be rectified. A wide-reaching 176-page report issued earlier this month by the Counterparty Risk Management Policy Group – whose members include Goldman Sachs, HSBC and Morgan Stanley – says that the contribution operations and risk management... Read more

Merrill Lynch froze hiring through year-end. Meanwhile, boutique banks scoop up talent from large institutions. Hedge funds are deluged with candidates. Mutual fund firm Ariel laid off 18 people, 20 percent of its staff. *** Merrill Lynch froze hiring, including replacement hires, for the remainder of 2008, according to media reports. Retail brokers are exempt, but all other hires require prior approval from a member of Merrill's management committee. An internal memo... Read more