SG
Company: HSBC
Euro Banks Sharpening Their Axe for Shareholders’ Sake
Two European banks – HSBC and Royal Bank of Scotland – will yet again rely on job cuts in an attempt to nurse their balance sheets back to health. RBS acknowledged that it will need to cut an unknown number of jobs and close additional branches as it completes its restructuring process and looks to […]
Nomura pays managing directors 70% more than Deutsche Bank? New bank pay data
If you were asked to choose the best paying bank in London, you’d be unlikely to choose Nomura. New data suggests the Japanese investment bank is surprisingly generous, however. The same data suggests that HSBC and the Royal Bank of Scotland are among the worst payers in the City. The figures, from peer-to-peer pay calculator, […]
Commodity Hiring Shifts, Oppenheimer Recruiting European Bankers
Here are the main job opportunities of the last week. Tip: Hedge Funds, Trading Houses Picking Off Commodity Traders With large banks cutting commodities trading operations, top performing traders are finding jobs at hedge funds and other trading houses. But they face big culture changes at their new employers. Tools to get the job: Nine Cover […]
Don’t ‘Lean In’ Too Far, Warns Former Lehman CFO
In her new book, “Lean In: Women, Work and the Will to Lead,” Facebook COO Sheryl Sandberg is looking to empower other women to break through the glass ceiling and blaze a similar path to corporate boardrooms. Now a familiar name from the past has come out from the shadows to offer a different perspective, […]
HSBC is firing technologists, but also hiring
HSBC may be about to decimate its headcount in offshore technology locations, but this could ultimately mean more jobs for IT professionals in more developed financial centres. The bank has cut over 6,000 IT staff since announcing its cost-cutting measures last year, according to a report in the Financial Times, and could make deeper redundancies […]
The lone Irish firm on the over-subscribed €5bn government bond deal
International investment banks have flocked to Ireland since the financial crisis hit to gain a foothold in what was expected to be a lucrative supply of government bond issuance. One local player stands alone in securing a mandate for the first deal since 2010 – Davy – and it has the biggest local team. This […]
UBS I-Bankers Bracing for Depressing Bonus Day
Compared to their rivals, UBS investment bankers have been waiting for an eternity to get their bonus numbers for 2012. The big day – March 6 – will likely be a bitter disappointment for an alarming number of i-bankers. Andrea Orcel, chief executive of UBS’s investment bank, delivered the news to his troops in what […]
European CEOs to become the poor men of banking
In the current climate it may be unpalatable to talk about executive pay in anything other than disparaging terms, but the new EU bonus rules risk making European banking chief executives the poor men of finance. Yes, a poor banking CEO is something of an oxymoron and the bosses of British banks like Barclays and […]
HSBC caps bonuses at nine times salary and pays someone $11m
Buried in today’s release of its annual results, HSBC revealed that it caps bonuses for its executive directors — its top management — at nine times salaries, far above the EU’s proposed cap of 2.5 times salaries. It also pays some of its bankers very well indeed. According to the bank’s annual report, executive directors have […]
Banks offshoring more than 80,000 tech jobs
Chances are if you work at a bank and have an IT problem, you’re not going to be talking to someone in your same office. To keep cutting costs and remain competitive, banks are increasing their offshoring of technology services and resources. Deutsche Bank recently said it intends to shift 8,000 jobs to lower cost […]
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