UK
Company: Santander
Could the departure of the popular Glenn Poulter from Oriel Securities be construed as a bad sign?
Glenn Poulter, head of equities at Oriel, hired from ICAP in December 2010, and former head of Citigroup’s cash equities business, has gone after approximately 1 year. City AM suggested yesterday that Poulter left because things, ‘just did not work out’. Poulter had also allegedly requested that he be allowed to extend the period beyond [...]
Lunchtime Links: Potted plant insurgency at Goldman Sachs London
They are more than just potted plants. They are living breathing organisms, purifying the environment, bringing good Feng Shui, relieving stress, improving skin tone and getting rid of coughs. Eliminating potted plants is therefore a huge deal. It is one that employees at Goldman Sachs at Peterborough Court will not take lightly. According to the [...]
Lunchtime Links: A psychological assessment of why people like working for elite investment banks
Given the long working hours, absence of social life, and diminishing likelihood of escaping, wealthy, with any vestiges of your youth intact, why do people want to work for elite investment banking organisations? The blog Naked Capitalism thinks it has the answer. Citing another blog, which looks at the appeal of working for the New [...]
Is change management too reliant on contractors?
Change management is a hot area of recruitment , which is disproportionately reliant on a large number of skilled, and expensive, contractors. But are they all up to the job? In the post-crisis world, regulatory pressures are driving business transformation initiatives within various areas of banks in the UK – finance, treasury, technology, operations and [...]
The bonus pact has failed, bonus tax fears are back, salaries will rise again
BarCap bankers can breathe a sigh of tremendous relief: the bonus pact has come to absolutely nothing. According to the Telegraph, ‘Project Merlin’ has fizzled away without an agreement to voluntarily restrict bonuses after all. Under the pact, Barclays. HSBC and RBS had been expected reduce their bonus pools vs. 2009 and to commit to [...]
These small players could do some fairly big hiring in 2011
Big banks are unlikely to do big hiring in 2011, but small players may provide some solace. (Before anyone points out that some of the players listed below as small are in fact large, we would like to issue the caveat that we are referring to their size in the UK. When we say they [...]
BarCap bankers now hoping for another salary hike
This time last year, bankers at Barclays Capital received a piece of good news. Somewhat late in the day, several months after people at rival banks, they received a salary increase. Even better, it was backdated to June. Now, with talk about BarCap participating in a pact to reduce bonuses with HSBC, RBS, Santander and [...]
Lunchtime Links: ‘Think of the stress of the early years in M&A as a call option on your later career’
Ruth Porat, CFO at Morgan Stanley has some advice for any junior bankers feeling overwhelmed by the nightmare that can being a junior investment banker can constitute. In an interview with BigThink, Porat, who was formerly a technology investment banker at Morgan Stanley, admits the early years in M&A can be, “very challenging” and that [...]
Lloyds….or Santander?
Antonio Horta-Osorio, one-time head of capital markets at Citigroup in Portugal and formerly of Goldman Sachs in New York and London, is leaving Santander and joining Lloyds as CEO. Alongside the opportunity to be the biggest cheese at the UK’s biggest bank, Antonio has probably been persuaded by his alleged 8.3m pay packet (although this [...]
Corporate banking recruitment heating up
With losses around bad loans shrinking in the first half of this year, there’s a growing sense of expectation that a number of firms are set to increase headcount in their business banking functions in the second half. Lloyds last week posted a profit of 742m in its commercial division in the second quarter (compared [...]
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