UK
Company: RBS
Late Lunchtime Links: Banks’ HR staff offer insights into Ina Drew, the frighteningly intelligent head of JPMorgan’s chief investment office
Bloomberg has an interesting piece on Ina Drew, the $14m a year 55 year old incredibly successful Wall Street woman you hadn’t previously heard of. Drew is head of JPMorgan’s chief investment office. She’s worked for JPMorgan (or its forebears) for 30 years and has been head of the chief investment office since February 2005. [...]
Only another 2,700 redundancies to go at RBS, which is now paying its investment bankers around half the global average
RBS has been busy purging itself of superfluous investment bankers. In the past three months, it’s got rid of 700 of them. In the past year, it’s got rid of 2,400. RBS Global Banking and Markets (GBM) is now leaner and meaner, but the purging isn’t over yet. In today’s quarterly results release, RBS reminded [...]
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 [...]
Late Lunchtime Links: Only 11% of the recently redundant RBS staff have found new jobs, but this bank is hiring a lot of equities bankers
Financial News has some baddish news for anyone out of the market and trying to get back in: only 14 of 132 RBS staff registered as inactive on the FSA database on April 11th have found a new job since. For those of a pessimistic frame of mind, this could be seen as a bad [...]
Fewer people must get promoted and other things Boston Consulting is saying about the future of investment banking
Management consultants make a lot of money out of banks. McKinsey & Co are said to have been all over RBS and responsible for the closure of its equities and investment banking businesses. Boston Consulting, on the other hand, is said to be favoured by HSBC, and was behind the bank’s plan to remove all [...]
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 [...]
Forget investment banking league tables, this shows places like Goldman Sachs are doing less well than they seem
League tables for the first quarter of 2012 are out. The usual suspects are at the top of the pile: Goldman Sachs was top in completed M&A globally, JP Morgan was top in investment grade DCM underwriting, Citi led global ECM. However, charts from research firm CreditSights, reproduced below, reveal that standard league tables can be [...]
GUEST COMMENT: Suddenly, RBS will only pay legal fees for its redundant staff if they use the lawyers it recommends
If you are being made redundant from a bank, you are likely to have received along with your exit pack a compromise agreement. The compromise agreement sets out the full terms being offered to you, and stops you making any claim once it is signed. You have the right to take complete independent advice and [...]
Look, these places still have financial services internship and graduate positions going for 2012!
You should really have completed your application for an internship or graduate position at an investment bank a long time ago. Most banks open their applications in August. If you haven’t applied, you’re eight months late. But who are we to castigate? Maybe you did apply. Maybe you didn’t get in. Either way, there are [...]
These are the people about to make a lot of money at BTG Pactual in London; this is who BTG Pactual Europe likes to hire
BTG Pactual is the place to be. As William Wright points out, the bank makes revenues of $1.9m per employee, three times as much as Goldman Sachs et al. When BTG floats later this month, it will raise up to $15bn, making $150m for various its executives and $200m each for Roger and Huw Jenkins [...]
Follow eFinancialCareers
What is RSS?
Advice
