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Deloitte Ban Leaves Firm Vulnerable to Talent Poaching
In an industry-altering move, state authorities have banned Deloitte from working for New York state financial institutions for a full year following its botched investigation into Standard Chartered’s money-laundering protections. The move is a landmark victory for prosecutors who have long maligned the consulting industry’s cushy relationship with the very banks they’re asked to investigate. […]
Ladies: Your Rock May Be Sinking Your Career on Wall Street
Billionaire hedge-fund manager Paul Tudor Jones found himself with his foot squarely in his mouth last month when he called motherhood a career “killer” for macro traders, noting, rather graphically, that “as soon as that baby’s lips touched that girl’s bosom, forget it.” Sadly, Jones doesn’t appear alone in his thinking; some Wall Street bosses […]
Five tips for winning a new job after you’ve been fired
Half of my two-decades-plus career has involved managing people in some capacity, and one of the most grueling and important tasks has been recruiting the best reporters and editorial staff. While jobs in editorial pay a fraction of what people expect to earn in finance, they are equally coveted by those who want to report, […]
Late Lunchtime Links: $5m trader may be made to retrain as a builder
Tom Hayes, the ex-RBS Libor trader who was poached by Citigroup for $5m in 2009, could be in for a dramatic career change if the criminal fraud charges brought against him this morning by UK authorities prove successful. Hayes is being charged with eight counts of conspiracy to defraud in connection with the Libor-rigging scandal. […]
Is the Fed Driving Veteran Money Managers into Retirement?
The number of hedge funds that closed their doors increased for the third straight year in 2012. Same song, different tune this year. It seems a different big-name fund closes each day, with clients redeeming billions from once high-profile money managers who just can’t seem to beat the S&P. There are plenty of valid reasons […]
The big bank which quietly lost 80% of its staff
If the threat of job loss is a measure of trauma (which it seemingly is) then the bankers who once worked for Dresdner Kleinwort in the City of London are among some of the most traumatized around. After being shunted over to Commerzbank in mid-2009, their numbers have progressively dwindled. Very few ex-Dresdner bankers are […]
The science of manipulating recruiters into giving you a job
If you really want a particular job and you make it through to interview stage having done your preparatory power poses, equipped with a set of sensible questions to ask and ready with some pointers on charisma, you may think you stand a good chance of getting through. Maybe so. But you could probably improve your chances of gaining […]
Six rules for selecting a second spouse when you work in banking
It’s not just Rupert Murdoch – financial services professionals are also prone to undertake serial marriages – and suffer marriage breakdowns. Take Roger Jenkins – the 58 year old ex-Barclays banker who divorced his beautiful Bosnian wife Diana in July 2012 and has since been associated with first Elle Macpherson and then a Venezuelan beauty […]
Daily Dispatches – Dragons versus worms
There is a Chinese proverb that says that with money you are a dragon; with no money, a worm. But there is another that says flaunting wealth will bring misfortune. This illustrates the enormous problem facing China and its banks as the country deals with a slowing economy, but soaring demand for credit that is […]
Pressure on banks to hire Singaporeans for senior front-office roles
The Government of Singapore’s drive to pressure banks in the city state to hire Singaporeans was underscored last weekend when Deputy Prime Minister Tharman Shanmugaratnam said locals must be better represented in top front-office roles. Tharman and Tan Chuan-Jin, the acting Manpower Minister, started ’active’ discussions with the CEOs of all the major institutions about a year ago about […]
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