UK
Company: Key Talent
Maybe fears of a UK talent exodus haven’t been exaggerated after all
Now that the financial sector has had time to digest the FSA’s vast and clause-ridden revised compensation code, the conclusion is that the UK will suffer and that UK banks will suffer most of all. The FSA’s guidelines stand out as a draconian doctrine on pay, while the US, Asia and other European nations have [...]
Was all that IDB poaching really worth it?
In theory, the world of interdealer broking is largely dependent on individuals, and key departures or appointments can make or break a firm. As a result, poaching is commonplace. One firm particularly affected by this is Tullett Prebon, which was embroiled in a high profile case regarding the poaching of staff in its UK operations [...]
Profits down (a lot), headcount up in Nomura’s investment bank
Nomura’s quarterly results will have done nothing to stem the growing tide of pessimism around the investment banking sector and shows that its recruitment of star talent from rival firms has done little to mitigate against overriding tough market conditions. The Japanese bank, which has been expanding rapidly in Europe and the US over the [...]
Morgan Stanley to lock staff into three-month notice period
Morgan Stanley is set to increase the notice period required of its vice-presidents and executive directors to 90 days in a bid to keep hold of key talent during a period of expansion for the bank. Currently, VPs at Morgan Stanley only need to serve 30 days notice, while executive directors are required to stay [...]
Are banks willing to buy out techies’ bonuses?
Demand for front office technologists within investment banking is picking up at a time when the bonus pot is looking relatively sizeable. So what are firms offering to lure key talent away? Bonuses for front office IT professionals are likely to be up this year, meaning fewer people are going to be willing to move [...]
Lunchtime Links: Bank of America apparently offering $15m lock-ins
As we mentioned last month, Bank of America has been offering some very generous retention packages to its most prized employees. The New York Post has unearthed just how generous – Fares Noujaim, BofA’s vice chairman of investment banking, is said to have been offered $15m over two years. A Merrill spokeswoman told the paper [...]
Salary survey: Investment bankers’ pay to slump
Top managing directors in mergers and acquisitions and corporate finance, who last year bagged salary and bonus packages of about $4m (€4.5m) will have to content themselves with $1m – $2.5 m this year, a survey suggests. In technology, media and telecoms (TMT), last year’s hottest sector, few will make even $2m. At executive director [...]
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