UK
Company: Société Générale
Investment banks’ tablet and smartphone recruitment plans have crashed, but could be rebooted
Digital developers swayed across to lucrative investment banking contracts are hoping that phase two of these projects kicks off soon. For the time being, however, banks’ appetite to recruit for these roles has been dampened by over-riding cost concerns. At this point last year, the majority of investment banks were looking to hire interaction designers, [...]
Lunchtime Links: A fresh dose of reality for the banking job market
Recent statements from financial services recruitment firms have suggested that the job market is slowly improving, or at least showing some signs of activity once again. An interim statement from Michael Page has, however, reiterated that the situation is still tough. Its banking division was a drag on profits on the UK operation, which shrunk [...]
The strategy at SocGen, where people are being paid at least €30k to leave, looks a little strange
Didier Valet, SocGen’s new head of corporate and investment banking, has been laying out his wares. In a message on the bank’s website, he explains what it is that SocGen CIB is all about now. “SG CIB will pursue its strategy in 2012 by capitalising on the business lines where we already have expertise, teams [...]
Lunchtime Links: Alcoholism, insomnia and Crohn’s disease; just some of the health risks of entering investment banking
The hours are notoriously punishing for junior investment bankers, but most graduates go into their new life of 100-hour weeks with their eyes wide open. This doesn’t alter the fact that such a lifestyle can be hazardous to your health. The Wall Street Journal has highlighted a new piece of research by the University of [...]
Developers are still stealing code, so banks are still hiring IT security professionals
If by now any technologist working in financial services haven’t realised the pitfalls of stealing code from your employer, here’s another case in point. Bo Zhang, who was worked for the Federal Reserve Bank of New York on a contract basis between May and August last year, has been charged with stealing proprietary code and [...]
Late Lunchtime Links: New Year, new job in Malta
Forget stormy, rainy London. Think Malta, where it’s still reasonably warm, there are 300 days of sun a year, where you could be renting a duplex penthouse overlooking the harbour and where the tax rate is just 15%. Bloomberg has a long article extolling the virtues of Malta today. It points out that while governments such [...]
INTERVIEW QUESTIONS: Société Générale, project finance, graduate position
Question: What is a common ratio used in project finance and how do you calculate it? Answer given: Debt service coverage ratio = (Cash flow available for debt service + interest income) / Debt service CFADS = EBITDA – Tax – Capex + drawdowns Debt service = Principal repayments + Interest expense + lease commitments. [...]
Graduate Recruiter Q & A ( No.1 – Societe Generale)
Laurence Raison Global head of talent management and people development, Société Générale CIB Q What are the top qualities you are looking for in your graduate recruits? A Honesty and integrity are top of the list: the candidate must share our values. Then curiosity, the hunger to learn and try new things. Finally, flexibility and [...]
Lunchtime Links: The new chief executive of BNP Paribas only sleeps for four hours a night
While António Horta-Osório is busy resting and readying himself to reapply for his own job after taking medical leave for stress and exhaustion, it transpires that BNP’s new chief executive is a man who usually works fourteen hour days. An article on our French site points out that Jean-Laurent Bonnafé works from 7.30am until 10pm and [...]
Late Lunchtime Links: Banks will make many more redundancies, but RBC might hire you
Bad, but inevitable news: redundancies announced so far this year have reflected only the deterioration in revenues in the first half; given the ongoing revenue collapse in the third quarter, banks will need to announce a lot more cuts in the near future. The European Union’s new 9% core tier one capital ratio is increasing [...]
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