UK
Company: Citi
Late Lunchtime Links: JPMorgan is making 0.25% of its employees in London redundant; many banks’ share prices have plummeted since March
It’s not just Ina Drew and Achilles Macris. JPMorgan is cutting other people too. Bloomberg reports today that JPMorgan is cutting 20 jobs in London which are unrelated to its recent loss and therefore, we assume, external to the chief investment office. As the bank employs 8,000 people in the City, this amounts to only [...]
Here are the banks recruiting most heavily for technology right now
This time last year, most investment banks were recruiting heavily for technology in the UK. Most firms had more than 100 vacancies and many of these were related to front office technology projects. In 2012, tech budgets are both smaller and more strained by regulatory requirements, so it’s perhaps not surprising to see fewer opportunities [...]
After a pause, equity derivatives tech hiring is taking off again
Before the Kweku Adoboli ‘incident’ last year, equity derivatives, and Delta One desks in particular, were quietly doing well. And, as we pointed to in August, there was a steady stream of IT hiring emerging as more banks were seeking to bolster their equity derivatives business. All that changed very quickly in September, of course, [...]
The investment banks winning and losing in EMEA so far this year
It’s not been a good quarter for investment banking fees. Globally, they’ve slumped by 14% year-on-year, but in EMEA they’ve tumbled by nearly 22% compared to the first quarter of 2011, according to new Thomson Reuters figures. In terms of sectors, hot spots include financials, energy & power, industrials and materials, which accounted for 64% [...]
Look, these places still have financial services internship and graduate positions going for 2012!
You should really have completed your application for an internship or graduate position at an investment bank a long time ago. Most banks open their applications in August. If you haven’t applied, you’re eight months late. But who are we to castigate? Maybe you did apply. Maybe you didn’t get in. Either way, there are [...]
Can gender diversity drives survive as the financial sector contracts?
Despite an increased focus on diversity in the financial sector over the last decade, statistics suggest that crisis-driven job losses have been disproportionally hard on women. Between 2007 and 2010, the number of women working in the UK financial sector declined by 12.5%, compared to 8.8% of men, according to the Economic Policy Institute. “This [...]
Innovative strategies to address the gender imbalance
The financial sector is becoming more creative and effective in its efforts to attract, retain and promote more women, but it doesn’t stand out as a beacon of innovation. Having said that, there’s no single trail-blazing industry in this area. Across broad sectors and within individual companies, there are “pockets of innovation” to promote gender [...]
The four things that will really ingratiate you during spring week at an investment bank
If you’re one of the lucky handful of first year university students that has managed to secure a place on an investment bank’s spring insight week, don’t under-estimate its significance. Yes, they’re generally painted as a chance to introduce yourself to the industry; a little taster before you seriously consider your career aspirations, but the [...]
These are the banks people really want to get away from now. And these are the banks that might take them on
With the exception of Macquarie and Nomura, most bonuses have been announced.In general, it’s not pretty. Expectations were managed down, but still. Disgruntlement is widespread, but in each business area (IBD, equities, fixed income currencies and commodities), there are some places where it apparently runs deeper than others. Based upon conversations with recruiters, we’ve listed [...]
Please note: there does not appear to be a cash bonus cap at Citi; this does not mean people are happy
While Morgan Stanley bankers are being asked to get a life and stop complaining about the paucity of their cash bonuses this year, there do not appear to be similar issues at Citi. Citi announced its bonuses this week, and some people appear to have received large quantities of cash. “I spoke to a Citi [...]
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