UK
Company: Moody's
Growth companies creating six-figure jobs in finance
If you want to find a niche area of financial services that is both growing (for the moment) and creating highly paid jobs, try the ratings agencies. While banks struggle, ratings agencies are enjoying booming revenues. Moody’s was surprising upbeat last week when it reported fourth quarter results, with revenues rising 33% versus the same period of […]
What Credit Downgrade? Cantor Says It Will Keep Hiring
At a time when other banks are slashing costs and cutting staff, Cantor Fitzgerald is shrugging off questions about its financial health and says it will continue expanding. The New York investment firm earlier this month said it planned to buy Irish stockbroker Dolmen Stockbrokers for an undisclosed sum as well as hire at least […]
Sectors explained: Data Providers & Ratings Agencies
Keeping the financial sector informed and on its toes Credit rating agencies assess the likelihood that an organisation issuing debt will fail to pay back its creditors fully and on time – called ‘going into default’. Organisations are rated from AAA (virtually guaranteed to pay up on time) through to C (indicating a high risk […]
Based upon Moody’s update: a list of the most/least desirable banks to work for in derivatives trading
Yes, Moody’s has downgraded banks. Yes, some banks are now solidly Baa rated and may fall further. Yes, we have been here before – back in the 1980s, when, as CreditSights analyst David Hendler notes, many banks were rated BBB. But back in the 1980s, there was a lot less in the way of derivatives […]
Sectors explained -Data Providers & Credit Rating Agencies
Credit rating agencies assess the likelihood that an organisation issuing debt will fail to pay back its creditors fully and on time – called ‘going into default’. Organisations are rated from AAA (virtually guaranteed to pay up on time) through to C (indicating a high risk of default). Risks are classified as ‘investment grade’ if […]
Late Lunchtime Links: Time for everyone to restrict themselves voluntarily to 300k?
There are plenty of people working in the City who don’t earn six figures. The CEBR’s various bonus prognostications suggest the mean bonus for a ‘City employee’ this year is likely to be 21k. And recruitment firm Morgan McKinley’s monthly employment monitors generally put the average City salary somewhere in the region of 50k. Needless […]
Why would anyone want to work for a ratings agency now?
Ratings agencies aren’t looking particularly hot as a result of Andrew Cuomo’s latest investigation into what precisely went wrong in the world of CDOs. As blog Naked Capitalism points out, agencies were either duped or dumb. Neither sounds particularly appealing. Five years ago, banks were all over ratings agencies. The New York Times claims that, […]
GUEST COMMENT: If you kill the City, you’ll finish off the UK
The text below is from an anonymous email that’s been circulating around the City since the PBR. We’ve toned it down slightly where appropriate… Last week, Chancellor Alistair Darling today unveiled his Coup de grâce in his and boss Gordon Brown’s 5-yr campaign to level the United Kingdom to an economic wasteland, circa 1975. As […]
I should CoCo?
Lloyds Banking Group’s use of a contingent capital debt exchange earlier this month has led many to speculate whether other banks could follow suit in an attempt to appease regulators’ liquidity concerns. If this happens, it’s likely to result in more advisory business for investment banks, so what people will be needed to work on […]
Ratings agencies are hiring again
Ratings agencies have had both their reputations and balance sheets battered by the financial crisis, but for the first time in two years there are signs things are looking up. And the big players are tentatively re-building their teams once again. Standard & Poor’s has just reported its first quarterly rise in revenues in two […]
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