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Company: Reuters
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: Two firms that are hiring staff, one in large numbers
We’ve expressed scepticism aboutCantor Fitzgerald’s insistence that it’s hiring people as banks fire them, but maybe we were wrong. Today it emerges that Cantor has actually recruited 200 people since the start of this year, increasing its staff by 20%. Moreover, Cantor appears to be hiring still. Chief executive Shawn Matthews told the Wall Street [...]
FIG hiring is still fairly big hiring
Financial institutions group (FIG) teams have been generally immune to the trimming of 2011. If anything, banks have been bolstering their ability to offer financing and M&A advice to their fellow financial institutions. FIG hiring may even continue next year. “We’re working on about 5 mandates for VPs to go into banks’ FIG M&A teams [...]
GUEST COMMENT: I left banking because it was like working on a high end supermarket checkout; now am I am unsure what to do
“C.B.R EMERGENCY RATE HIKE 300BPS.” The big red letters flashed over my Reuters screen as I pondered the consequences for my book. Wasn’t I long in both the 1mth and 3mth buckets? A quick check of my risk confirmed that not only was I long the 1mth and 3mth buckets, but that I was long [...]
There are VPs out there who are doing the job of associates
Things have definitely taken a turn for the worse in investment banking. In the third quarter, investment banking fees at JPMorgan fell to their lowest level since 2005 and dealmaking in EMEA was at its lowest since the first quarter of 2010. However, this does not mean some people are not busy. A lack of [...]
The recently hired in M&A are becoming the recently fired in M&A
Banks that were hiring are now firing. There is a predictable symmetry between those who’ve been recently hired and those who are now being fired. As the outlook worsens for M&A, recruiters say many of those being let go are associate- level investment bankers who were hired externally (either from MBA courses or as recently [...]
Feelers are coming out of UBS’s equities team, but NO ONE is hiring
Things have progressed since we last looked at whether anyone is trying to find an alternative employer to UBS. Last week, no one was. This week, some people are. Equities headhunters say persons from the Swiss bank’s highly ranked equity research team are indeed getting in touch. “I’m meeting a UBS analyst this afternoon,” the [...]
GUEST COMMENT: An internal overseas transfer may not be such a good idea after all
In the good old days when a bank sent you abroad it was a good gig; the first time I ever had servants was when Citi put me up in Sydney in a rather nice apartment. The general principle was that you’d be kept at the standard you had back home, plus a bit to [...]
Lunchtime Links: An exposition on how UBS could STILL PAY bonuses this year, but clawback bonuses from last year
Forget the haters and bonus deniers. With the help of analysts at JPMorgan, Margaret Doyle at Breaking Views has got a plan which may allow UBS to pay 2011 bonuses despite both Kweku and the cost of putting up its executives at a luxury golf course in Singapore. Doyle’s plan is thus: – Before the [...]
Lunchtime Links: An abnormally large number of financial services professionals seem too frightened to look for a new job
It’s the summer. It’s a quiet time. People are keeping their heads down. They are topping up their tans. But people are also scared: they are too timid to apply for a new job. How do we know? According to the latest monthly statistics from recruitment Morgan McKinley, which has just offered up its insights [...]
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