UK
A retinue of depressing bullet points about investment banking compensation from McLagan, the secretive banking pay specialists
When McLagan speak about investment banking pay, it’s worth taking note. Compensation benchmarking specialists, they work with leading investment banks to help determine whether they’re paying people appropriately. McLagan’s findings are, usually, strictly confidential. Now, however, McLagan has participated in a study with the Association for Financial Markets in Europe. And the results are public. [...]
GUEST COMMENT: Are you a mother looking to return to work? Apply quickly to Bank of America Merrill Lynch’s Returning Talent programme
Women are a valuable part of the workforce at Bank of America Merrill Lynch and we want to ensure they’re supported throughout their careers – including when they become mothers or take time out to look after children. All Bank of America Merrill Lynch employees who take maternity leave are given the option to have [...]
Want to work for Brevan Howard? It looks quite unlikely in London
Brevan Howard is hiring – in Hong Kong. It’s just announced the appearance of David Adams, former head of rates trading at Morgan Stanley in Australia. Not long ago, it hired Farouk Juma, a former prop trader at UBS in Singapore. In London, meanwhile, enthusiasm for recruiting appears to have abated. Last March, Nagi [...]
Lunchtime Links: Be warned – 56% of people in the UK support a tax of 75% on incomes over £1m
British papers are replete with stories of French bankers escaping high tax rates and emigrating to the UK, and French bankers in London are praising the UK for its measured approach to taxation. However, the sense of schadenfreude may be a little premature. However, the New Statesman points out today that Francois Hollande’s policies are [...]
GUEST COMMENTS: French politicians are foolish to alienate all the French financiers based in London
I have been talking to fellow French ex-pats in the UK, Ireland, Scandinavia and the Baltics, all part of the new constituency for which I am running as a member of the French Parliament. There is one common feeling: career politicians based in Paris are overly divided by political lines that are no longer relevant. [...]
Optimism about summer hiring is being supplanted by fear that the Olympics will stifle financial services recruitment altogether
Once, a few months ago, recruiters we spoke to were quite optimistic that hiring might pick up as the year progressed. However, that was before Alexis Tsipras, a disappointing May, and Kian Abouhossein’s realisation that maybe revenues won’t be massively increasing in FICC after all. In the new reality, London’s financial services recruiters are alert [...]
Lunchtime Links: Man quits high frequency trading citing soul-erosion, starts storytelling website
Dave Lauer, a former high frequency trader, has seen the light and is quite evangelical about it. ”I read Ayn Rand and subscribed to her idea that your worth to society is perfectly measured by the amount of money you earn,” he tells US site Marketplace. ”I followed the path of least resistance and with degrees in computer [...]
Nightmare for junior corporate financiers with private equity aspirations: banks are identifying and pre-emptively sacking them
There’s one thing worse than being an analyst or 1st year associate spending your every waking hour on pitchbooks, and that’s being an analyst or associate spending your every waking hour on pitchbooks whilst trying to time for interviewing with private equity funds. Recruiters working with private equity funds in London say there’s a lot [...]
The job-hopping headache for insurance firms in London
Insurance firms are facing a skills shortage, but they’re still incredibly choosy about the people they decide to take on. The latest thing turning off recruiters is the short period of time candidates are spending with their current employer – basically, firms hate a new emerging job-hopping trend. Recruiters are being faced with candidates who [...]
GUEST COMMENT: I am not overqualified, I am over 40
When I was made redundant from my job as a middle office manager with a leading asset management company a few years ago, I didn’t envisage I’d have any problems finding an alternative position. After all, I had nearly 20 years’ experience within the investment business, many of them in a managerial and training capacity. [...]
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