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Advice to M&A bankers: Your jobs are less vulnerable than they may currently seem
2012 has started unpromisingly in M&A. Advisory revenues were down 34% year-on-year in the first quarter at JPMorgan, 23% year-on-year at Citigroup, and 37% at Bank of America Merrill Lynch. In the first quarter of 2012, global M&A fees fell to their lowest level since the second quarter of 2009. Europe was a bit better, [...]
A Q&A with Anil Hansjee, the former investment bank software engineer who became Google’s main M&A man in EMEA
Anil Hansjee has had quite a career. Having started out as a programmer at Swiss Bank Corp, now Union Bank of Switzerland, he moved into a risk-product role at Chemical/Chase (now JPMorgan) before making an unusual move into corporate finance. From there, he moved to the buyside and venture capital, and from there he moved [...]
French bankers in London urged to stand up for themselves and defend finance. French bankers in France warned there are no jobs in London
Francois Hollande may not have won the definitive first round victory he would have liked, but he has forced Sarkozy into second place in the first round – the first time this has ever happened to a sitting president according to Reuters. In the circumstances, and given Hollande’s professed dislike of bankers and intention of [...]
Late Lunchtime Links: Hundreds of jobs could be coming to a leading hedge fund in London; the empty platitudes of Aviva Investors’ accidental email firing all its employees
If you want to work for a hedge fund, you could keep an eye on Winton Capital. One of the largest and more lucrative hedge funds to work for in London, our research recently suggested Winton increased its headcount of registered persons by 40% over the past two years. It may want to increase it [...]
Things you might want to think about before joining Morgan Stanley’s fixed income business
We’re not saying that Morgan Stanley is hiring. According to its website it has a mere two jobs going in its front office fixed income business in London – both for rates traders. But if you are feeling friendly towards Morgan Stanley following last week’s blowout fixed income results, there are a few reasons why [...]
Lunchtime Links: The problems with Bob’s bonus
Bob Diamond has conceded. He may not get quite such a big bonus. Henceforth, Bob will be linking half his long term bonus awards, paid out over the next three years, to performance. Specifically, during that time BarCap’s return on equity must equal its return on equity. If that doesn’t happen, £1.35m of Bob’s £17.5m [...]
Now hiring: Greenhill and Evercore. Reasons why you may – or may not – want to work for them
Greenhill is hiring people! So, is Evercore! We know that Greenhill is hiring because chief executive officer Scott Bok said so on this week’s conference call to announce Greenhill’s impressive Q1 results (50% year-on-year increase in advisory revenues, 11 fold surge in completed deals by volume). We know that Evercore is hiring because its chief [...]
Belated results to our bonus survey suggest the highest, most performance-oriented bonuses are on offer in commodities. M&A bankers are barely paid for performance at all
It’s been a while, but we can finally bring you the headline results, by sector, to our 2011 bonus survey. As you will see in the table below, commodities professionals purport to have received the largest payouts, compliance professionals the least. Our sample sizes aren’t huge: we’re not presenting this data as infallible – make [...]
This is what banks’ first quarter results say about the chances of getting hired, by business, this year
First quarter results are out from JPMorgan, Goldman Sachs, Bank of America, Citigroup and Morgan Stanley. At this stage, it is therefore possible to say what the big trends appear to be so far for 2012. These big trends may yet translate into small hiring. These are they: 1. Rates were hot Not long ago, [...]
Lunchtime Links: For the moment, Morgan Stanley and JPMorgan look like the place to be for fixed income traders. Goldman Sachs, doesn’t
Morgan Stanley’s first quarter results are out. So are Bank of America’s. They tell a tale similar to that of other firms: better times sales and trading – especially in fixed income, worse times in M&A. One thing in particular stands out: Morgan Stanley’s fixed income performance. It is good: very good. Excluding DVA, Morgan [...]
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