SG
Company: Macquarie
Daily Dispatches: VTB stacks the deck for push into China
Russia’s VTB Capital has made two senior hires in its Hong Kong office to support expansion plans in the Asia-Pacific region. Xin Lin is the new head of multi-product sales for China, and joins from Nomura in Hong Kong where she had been Head of Global Finance, COO of China, since 2008. Wei Chen joined VTB Capital’s Corporate […]
The five hottest programming languages to know in banking technology
Recruitment of developers into investment banking isn’t exactly buoyant currently, but certain skill-sets remain in demand and, in some cases, difficult to find. Here are our top five. 1. Java It may not be particularly new or illuminating to say this, but Java remains king in investment banking. Our own figures show that there are […]
Massive layoffs coming soon to Macquarie’s investment banking business?
A new research note from analysts at UBS sounds like bad news for anyone working at Macquarie Capital or Macquarie Securities. Macquarie should ideally close or sell these unprofitable businesses – especially in Europe and the U.S., says UBS. Failing that, it might want to scale them back – considerably. The idea that Macquarie might […]
Asia gains in the great Aussie IT outsourcing drive
Many information technology professionals in the banking sector face uncertain futures as thousands of jobs are sent offshore and companies look to cut costs in response to the weak demand for financial products. The Finance Sector Union claims that nearly 6,300 jobs have been relocated offshore by Australian banks and financial companies since 2007, and […]
The Top 10 Best Financial Services Offices to Work In
Once you get past the imposing foyers staffed by attractive receptionists and beyond the large stock tickers on the front of the building, most financial services offices are somewhat plain affairs, made up of large, open-plan floor spaces with banks of impersonal desk tops. Some bank offices, however, have more in common with champagne and […]
Macquarie has cut its workforce by more than 700 over the past six months, mainly in the back office
Macquarie Group’s headcount fell by 739 in the six months to 30 September, according to its half-year results, with back-office staff bearing the brunt of the reductions. The bank’s results show that employment expenses decreased 5 per cent during that period, mainly because of a 16 per cent reduction in its central-support workforce – now […]
More equities heads roll in Asia; here’s more on Deutsche’s latest cuts
The bad news for Asia’s equities professionals has continued unabated. Lay-offs hit RBS, Macquarie and CLSA earlier this year. More recently, Daiwa laid off three senior ECM bankers in Asia Pacific; while Nomura announced deep global cuts to its equities team. Earlier this week it was Deutsche Bank’s turn. Germany’s largest lender let go of […]
Daily Dispatches: Macquarie pays a billion in bonuses
Macquarie paid out A$1bn (US$1.04 billion) in bonuses last year despite profits at the investment bank slumping to an eight-year low of A$730m, according to figures from UBS. (Wall Street Journal) Reeling from an insider trading scandal, Nomura yesterday announced the resignation of Kenichi Watanabe as the chief executive officer of Japan’s top brokerage. (Finance […]
Sectors explained: Capital Markets
The birthplace of financial products Before financial products are traded, they must be created. It’s the ‘pink-collared’ bankers in the capital markets divisions of investment banks who work on the production line to create them. Equity capital markets (ECM) bankers help companies raise money by issuing shares and related derivative products, which are sold to […]
Nomura confirms it: M&A and capital markets businesses are just not very profitable. Macquarie pays head of risk twice head of M&A
If you work in M&A or capital markets (collectively known as IBD), you may be a loss leader. Don’t, therefore, expect to get paid anything like your colleagues in sales and trading roles. There have always been suspicions that M&A bankers aren’t great for the bottom line (RBS’s don’t appear to have been profitable, for […]
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