UK
Company: Citigroup
A whole new FX-focused bank has opened in London, and other stories of big hiring in FX businesses
Tens of thousands of jobs may be disappearing in the City of London, but there is still hiring in FX. Swiss-based online FX trading specialist MIG Capital announced the opening of its new office in the City last week. The FSA register shows that MIG currently employs only four registered people in the City, but [...]
Advice to M&A bankers: Your jobs are less vulnerable than they may currently seem
2012 has started unpromisingly in M&A. Advisory revenues were down 34% year-on-year in the first quarter at JPMorgan, 23% year-on-year at Citigroup, and 37% at Bank of America Merrill Lynch. In the first quarter of 2012, global M&A fees fell to their lowest level since the second quarter of 2009. Europe was a bit better, [...]
This is what banks’ first quarter results say about the chances of getting hired, by business, this year
First quarter results are out from JPMorgan, Goldman Sachs, Bank of America, Citigroup and Morgan Stanley. At this stage, it is therefore possible to say what the big trends appear to be so far for 2012. These big trends may yet translate into small hiring. These are they: 1. Rates were hot Not long ago, [...]
Important lessons on redundancy, parenthood, and spouse selection from a banker of experience
Having been eradicated from Bank of America last year, Sallie Krawcheck has opened up to Marie Claire magazine. Unlike Erin Callan, Krawcheck has not moved to the Hamptons with an old and not unattractive male friend she met at school, who is now a fireman. She is happily married to Gary Appel (her second husband and [...]
This is what’s really behind the fuss about Pandit’s excessively generous pay
Suddenly, Vikram Pandit pay be less well off than he’d anticipated. Having had his salary increased from $1 to $1.8m on January 18th 2011, he was theoretically in line for a payment of $15m, plus multi-year incentive compensation of $40m, as detailed in the letter Citi sent to its shareholders before this year’s annual meeting. [...]
Late Lunchtime Links: Citigroup is planning markets redundancies even though its FICC business is doing very well. Maybe it should cut in equities?
As predicted by Morgan Stanley/Oliver Wyman and (to a lesser extent) JPMorgan, 2012 is turning out to be a good year for fixed income, currency and commodities bankers. Today is the day of Citigroup’s Q1 results. As ever, reality is obfuscated by DVA changes, but when these are stripped out, Citi – like JPMorgan – [...]
The full list of who hired and who fired in London in March (Credit Suisse, BNP and RBS were the big firers; Citigroup was the hirer)
Credit Suisse is supposed to be making a lot more redundancies. Sonntag reported at the weekend that CS might disclose plans to make 25% of its 20,000 or so investment banking staff redundant when it announces its Q1 results on April 25th. Calls are already coming for Brady Dougan to take himself out of the [...]
Lunchtime Links: ‘How many people do you need in a room to make the clash of birthdays more than even?’ and other questions used by BNP Paribas to find out whether you are a genius
Following in the footsteps of BarCap and Deutsche, BNP Paribas has become the latest bank to conceive a game that will inform you whether you might be good enough to work there. BNP Paribas’s game is accessible here, through Facebook, and is ostensibly designed to elicit whether you are a genius. As defined, geniuses will [...]
Goldman Sachs, Citigroup and Barcap have all rebuilt their European businesses since 2008. Where does this leave the rest?
However bad the pain in the banking jobs market has seemed in the past 12 months, it has been – frankly – nothing compared to the turmoil of 2008 and 2009. Bank-by-bank graphs from the ever-informative data resource that is IMAS Insight, reveal the extent of the trauma among FSA registered persons a few [...]
Behold: the last remaining graduate and student opportunities in finance this year
By now, most financial services organisations are closed to applications for both their summer internships and graduate programmes. However, some opportunities remain. Here’s where: Bank of America Merrill Lynch: BAML still has long-term internship vacancies in London for sales roles within its global markets division. Apply here Citigroup: Citi is still advertising for summer internships [...]
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