UK
Company: Nomura
Things you may not know about this year’s Nomura bonuses
Nomura announces its bonuses after everyone else. When all other bank have put bonus announcements behind them and are getting on with the year, Nomura is breaking the bad and good news to the inhabitants of St. Martin’s Le-Grand (where we understand there to be, incidentally, not only bee hives but also vegetable beds). In [...]
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 [...]
Late Lunchtime Links: Possible bad bonus news for Nomura’s EMEA bankers – there are plans to hire a lot of expensive people in the US
Nomura’s investment bank was profitable last quarter. After making a loss for three of the four quarters of 2012, it swung to a profit of $157m. For 2012 as a whole, Nomura’s investment bank made a loss of $472m. Needless to say, Nomura’s cutting costs. Its detailed headcount chart shows it’s cut 339 people in [...]
Banks are pulling out of longevity swaps, but insurers are hiring
Investment banks may be pulling out of the longevity swap market, but insurers, reinsurers and consultants are all starting to build their teams. Unfortunately, hiring is relatively diminutive. Longevity swaps are complex, but essentially they’re a tool that allows pension schemes to mitigate against the risk of members living longer than expected. Last year was [...]
Fewer than 20% of the fixed income sales and trading professionals who lost or left their jobs in the second half of 2012 have been re-employed
The first quarter was good for fixed income sales and trading. Most banks achieved a year-on-year increase in revenues. Morgan Stanley achieved a 34% year-on-year increase in revenues. Rates was generally cited as an area of strength. Does this mean all those fixed income salespeople and traders who were made redundant at the end [...]
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 [...]
Nomura’s head of recruitment says new UK immigration rules haven’t affected his ability to hire Russian graduates
If you’re a Russian student who wants to go and work in the UK after graduation, life is harder than it used to be. The UK has imposed new immigration rules and a cap on the number of non-EU citizens who can work in the country. However, Malcolm Horton, head of recruitment at Nomura, says the [...]
Late Lunchtime Links: Bank of England wants to defer bonuses for an entire decade; Credit Suisse says the second quarter is worse
As we’ve explained before, the financial services hiring market is in a state of stasis, partly because people have so much stock and banks won’t buy it out. In the circumstances, someone suggesting stock should be even more deferred is not needed. This is what Andy Haldane, executive director for financial stability and a member [...]
Things you might want to think about before joining Morgan Stanley’s fixed income business
We’re not saying that Morgan Stanley is hiring. According to its website it has a mere two jobs going in its front office fixed income business in London – both for rates traders. But if you are feeling friendly towards Morgan Stanley following last week’s blowout fixed income results, there are a few reasons why [...]
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, [...]
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