UK
Company: RBC Capital Markets
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% [...]
Lunchtime Links: This looks like bad news for anyone working in operations at Credit Suisse
It’s not only front office bankers in areas like rates that are being laid off. It’s operations bankers too. Hence, Morgan Stanley, which we revealed today is making 1,600 job cuts after Christmas, is also getting rid of 80 people in Singapore whilst shifting jobs to India. And Credit Suisse is combining its private banking and [...]
RBC Capital markets is soon to pay bonuses. Will they be big ones?
This time last year, RBC Capital markets was bedding down lots of new recruits. Between January and June 2010 alone, it hired 530 people of whom 140 were in Europe. It’s done some more hiring this year, but not as much. In October it hired Johnny Vo of Goldman Sachs and James Eves of UBS [...]
It pays badly, but would you now consider a role at Standard Chartered?
To many investment bankers, the prospect of working for Standard Chartered has never been overly appealing, largely because of its reputation for being prudent with pay. However, it is one of the few institutions still hiring, so is it now worth considering? Standard Chartered has released its Q3 interim management statement this morning. As is [...]
Lunchtime Links: Bank hiring freezes blamed for the very nasty plunge in the share price of Michael Page
Last week it was SocGen and Bank of America. This week it is Michael Page. This morning, Michael Page published its second half results. They weren’t bad. They were even quite good. Revenues rose 28% year-on-year in the first half; pre-tax profits rose 38% before non-recurring items. Even revenues in the accounting and finance sector [...]
Weep for your 2010 bonus if you work at BAML. Rejoice if you work at RBC Capital Markets
The good news is that French banks’ share prices are rebounding this morning. The bad news is that the rebound will need to be significant to wipe out yesterday’s losses. The worse news is that, across the board, the share prices of leading investment banks are down an average of 33% last year. And that [...]
RBC Capital Markets is emerging as an extravagant payer
Last time we wrote about pay at RBC Capital Markets we were assailed by people saying they don’t pay very generously. This may no longer be the case. According to various headhunters, RBC is now paying, “outrageously well,” and is willing to offer both guarantees and a significant (40%) uplift on existing pay packages in [...]
Lunchtime Links: Banker who retired to become a writer on a Caribbean island, is coming back to London
In further proof that there is a degree of pleasure to be derived from working hard in a large City with a tired infrastructure, The Times reports that David Norwood, former chief executive of Evolution Beeson Gregory has decided to give up on his aspiration to be a writer on a desert island, and is [...]
So, 2010 was a great year for….
2010 wasn’t a bad year. It was however, the polar opposite of 2009. While last year started badly and got better, this year started well and got worse. If you like your years consistent, it was confusing. Nevertheless, despite the defunct third quarter and despite last week’s downgrades for Q4 revenue expectations, 2010 could have [...]
A lot of investment banks are using open source software, but techies shouldn’t worry
One of the more interesting revelations to come out from the (imminently decided upon) Sergey Aleynikov trial is that Goldman Sachs’ code may not even have been worth stealing. Benjamin Goldberg, an associate professor in New York University’s computer science department, testified that the code Aleynikov took contained “lots of open source software”. Or, as [...]
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