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Daily Dispatches – Dragons versus wormsThere 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 […] |
Competition: Want your CV assessed by graduate recruiters for free?
Here’s your chance to get feedback on your individual CV from people who are selecting graduates for next year’s intake in the banks BEFORE you submit your application in the autumn for real. This year’s Careers in Financial Markets student guide will once again include our highly popular article on CVs, featuring feedback from graduate […]
Brokerage Firm Eyeing Redundant Bankers in Hiring Push
If you’re a laid off banker, know the name Makor Capital. The independent brokerage group, founded two years ago by former Cantor Fitzgerald executives, is planning a big hiring spree. Makor has also signaled that you don’t necessarily need to be employed to be considered. Makor told Financial News that it plans to make roughly […]
The new stealth-cap on City bankers’ pay: £425k
Sometime in the next few days, the British Parliamentary Commission on Banking Standards is expected to produce its much-anticipated report on the future of British banking. If rumours are accurate, the report will say that ‘top bankers’ in the UK should have their bonuses deferred for 10 years. This would amount to a cap on compensation in […]
Daily Dispatches – Over 100 traders lose jobs in Singapore interest rate fiasco
More than one hundred trading jobs could be up for grabs in Singapore after the country’s monetary authority, MAS, came down hard on 20 banks on Friday for trying to rig interest rates. MAS says that 133 employees across both local and foreign institutions had been identified, and three quarters of them have been sacked […]
BNP Paribas plans banking ‘campus’ in Singapore
BNP Paribas, France’s largest bank, is planning to build a banking university in Singapore to raise the level of financial services skills in Asia Pacific as it sets it sights on rapid growth in the region. A spokesman for the bank in Singapore said that no information has been released publicly about the proposed campus […]
Five golden rules for workplace cursing in the style of Jamie Dimon
Using profane language and working in an investment bank may seem as apt a combination as wearing a stetson and rounding up cattle. But swearing at work is a difficult business. If you get it right, you can end up looking like Jamie Dimon – who earlier this week insisted there was ‘no bullsh*tting’ about the […]
Man spends 30 years at one bank, suffers horribly in terms of pay
Poor Paul Tucker. After being endorsed by the Financial Times as the ideal replacement for Mervyn King as governor of the Bank of England, the deputy governor was beaten to the role by the demi-God that is Mark Carney. Now, two weeks before Carney rocks up at Threadneedle Street, Tucker has tended his resignation. He says that […]
Banker, aged 30, demonstrates the dark art of displacing boss, aged 55
You’re a 30-something banker working below a 50-something boss who has a long-established reputation as a god in his area of business. You want a promotion, but the seat above you is very clearly filled. What do you do? This appears to have been the conundrum facing the subordinate of Tony Shiret, the so-called “godfather of […]
Wrench Dangling Above Goldman’s Succession Plan
Goldman Sachs Chief Executive Lloyd Blankfein seems more chipper than he’s been in years. Scandals have subsided, the challenge to his chairman role died quietly and the business is returning to health, particularly when compared to the plight of other financial firms. Judging by all the signs, Blankfein is going nowhere anytime soon, and that’s […]
Daily Dispatches – Bears on Rollercoasters
No, not the latest circus extravaganza to hit Las Vegas, but rather a snapshot of the events this past week in Asian markets. After a gut-wrenching four days of trading that saw Japan’s stockmarket plough into bear market territory by Thursday, and exchanges across the region nosediving, Friday opened brightly with green across the boards […]
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