NO
Sector: Capital markets
Danske Bank expanding equity sales, corporate and DCM teams
Danske Bank has been busy hiring within its Corporate and Institutional Banking (CIB) division, including “upgrading” its presence in London and Sweden, the bank has said. In its Q1 results earlier this month the bank attributed a 12% hike in expenses within its Markets and Treasury business to a combination of higher bonuses, increased investment [...]
Swedbank details lucrative incentives on offer to First Securities staff
Swedbank is keeping a tight rein on costs for the majority of its staff for both 2010 and the coming year, but has still earmarked a hefty NOK172m to ensure it’s able to keep hold of key First Securities employees during the integration of its new acquisition. Swedbank held a majority stake in Norwegian investment [...]
The rising tide of capital markets recruitment in the Nordic region
The Nordic region is experiencing a surge in IPOs, activity that is in turn fuelling demand for capital markets and M&A specialists. Norwegian insurer Gjensidige Forsikring and Danish telecoms operator TDC are both expected to launch $1bn-plus flotations by the middle of this month, while Denmark-based cleaning services firm ISS could be another that comes [...]
HQ and Carnegie merger could lead to jobs merry-go-round
Stockholm-based Carnegie Investment Bank has pledged that the jobs of all 300 employees of HQ Bank are safe following its swoop this week on the ailing Swedish financial services operation – but there’s still likely to be a period of uncertainty within both organisations. Carnegie bought HQ Bank and HQ Fonder, its trading business, on [...]
Compensation up at Swedbank, but down at Nordea
Swedbank has risked public wrath by increasing bonuses within its First Securities broker-dealer division in the second quarter of this year, at the same time as the business unit has reported lower half-yearly profits. Staff costs at the bank, including bonuses, rose by 2% to SEK2.423bn in the second three months of the year against [...]
Nordea capital markets shake-up could create new jobs
Nordea will this autumn undertake a wholesale restructuring of its capital markets function, a move that is expected to include an audit of the numbers of people and types of roles it will need within capital markets in the future. The bank has appointed former Goldman Sachs managing director Casper von Koskull to lead a [...]
Why investment bankers in Sweden can still command bonuses
Governmental pressure to reduce banking bonuses in Sweden has never been greater. But, as Nordea’s defiant stance last week demonstrates, it’s questionable just how effective this has been. In spite of calls from politicians to curtail variable remuneration in 2009, Nordea revealed that it has allocated SEK2.9bn for its bonus pool this year, with record [...]
Nordic banking chief suggests pay should be fixed
The Nordic bonus debate continues unabated. After relatively polarized moves among the region’s largest banks over the past couple of weeks, Handelsbanken’s chief executive has questioned the need for variable compensation and presented the case for fixed pay in the industry. Pär Boman, chief executive of the Nordic region’s second largest bank, has suggested that [...]
Danske Bank braves public anger with 14% bonus hike
Bonus payments for Danske Bank traders rose 14% last year, as the bank paid out nearly DKr840m (€112.3m) in performance-related compensation. The figures emerged as the bank posted group profits for last year of DKr1.7bn (€200m), up from DKr1bn (€134m) in 2008, figures described by chief executive Peter Straarup as “unsatisfactory”, though he added it [...]
Banks rule out mergers, and even suggest capital markets expansion
Capital markets professionals are unlikely to be on the sharp end of any major banking M&A activity within the Nordic region next year, but with more banks looking to raise cash and sentiment increasingly upbeat, they can nevertheless expect to be in demand. Nordea vice-chairman Bjorn Wahlroos earlier this month dampened speculation that the bank [...]
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