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There are still some opportunities for investment bankers in the Nordic region
The decisions by Nordea and Danske Bank last year to shelve 2,000 jobs apiece was initially viewed as disastrous for good reason. Banking jobs, in the front or back office, are not expected to grow in the Nordic region for next few years. As we pointed to previously, Nordea’s job cuts are largely restricted to [...]
Nordea job cuts leaving the front office unscathed – for now
Remember those iconic images of shell-shocked newly-redundant Lehman Brothers’ employees wandering about with boxes containing their worldly possessions? You’re unlikely to see similar scenes in the Nordic region, despite some large job cut announcements of late. Nordea confirmed last week that more than half of its 2,000 job cuts proposed last summer had already been [...]
GUEST COMMENT: The first 48 hours of redundancy are critical
Have you ever had a sporting injury? If so, you’ll know that taking some key actions in the first 48 hours plays a key part in minimizing damage and speeding your recovery. Whether you’ve strained a muscle, damaged some ligaments or incurred something more serious, it will help if you rest, apply ice or compression, [...]
GUEST COMMENT: There are lots of benefits to working in Luxembourg – it’s a mystery why more people don’t give it a shot.
Months before finishing my Masters degree in Investments at the University of Birmingham, I applied for jobs in all the usual places – the big investment banks and the major financial cities, London,New York and Hong Kong. During this process, I came across an advertisement for a role in Luxembourg and decided to give the [...]
Nordea isn’t hanging around when it comes to job cuts
This year will be “challenging”, Nordea chief executive Christian Clausen predicted today, as the bank revealed that more than half of its 2,000 planned job cuts have already taken place. The bank announced last summer that it would be shedding 2,000 staff from its global headcount of 34,000. In full-year and fourth quarter results unveiled [...]
Nordic banks may have already see the worst of the jobs pain
The reporting season gets into swing next week, with Nordea the first Nordic bank to lay out it stall in 2012, with Q4 and year-end results due on Tuesday, and other Nordic banks set to follow suit in the following weeks. Yet, while last year was marked by a succession of announcements around job cuts [...]
GUEST COMMENT: How you can work at Goldman Sachs for 8 years without living a Playboy lifestyle and still end up broke
There is a persistent City fairy tale which goes something like this: work hard enough, for long enough, and you’ll retire rich and live happily ever after. In this heart-warming fable, “hard enough” equals a minimum 90-hour week. And, “long enough” means somewhere between five and ten years… To have reached thirty five and not [...]
This is what Gary Cohn (of Goldman Sachs) and Jamie Dimon (of JPMorgan) are saying now about hiring, firing and pay
As you may be aware, Gary Cohn, COO of Goldman Sachs gave a long and important interview to the Sunday Telegraph yesterday. Equally, Jamie Dimon spoke during the conference call accompanying JPMorgan’s results last week. For those of you unfamiliar with either man’s pronouncements and in the interest of quick and easy accessibility, we’ve summarized [...]
Carlyle’s founders each received $138m last year, but how much would YOU make working in private equity?
We’re a little late on this, but it remains worth pointing out that – for some – people, a career in private equity can be incredibly lucrative. For the first time ever, Carlyle published details of its staff pay this week. They show that the three founding partners each received base pay of $275k, a [...]
Lunchtime Links: JPMorgan appears to have cut pay by the merest 8%. Things at its investment bank are both better and worse than they look
JPMorgan’s results are out . Ostensibly, they’re not too bad: fourth quarter profit was down, but this was to be expected. As ever, however, the reality is slightly different to the headline figures. JPMorgan’s headline results include accounting allowances for changes in the value of its own credit (DVA). In the fourth quarter – unlike [...]
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