UK
Stephen Hester and the art of appearing posh in banking
If you work in the City of London – and arguably on Wall Street – there is a trick to gaining the immediate respect of your peers. And that is to speak in a certain kind of international accent which underlines your cosmopolitanism. “It’s a kind of louche continental accent with an American twang,” said […]
These bankers do, and don’t, deserve to be paid so far for 2013
Most large banks have now announced their results for the first quarter of 2013. On the whole, their performance wasn’t too bad. However, nor was it too good – especially in fixed income, currency and commodity trading, where revenues declined a lot. Figures below, from Nomura analyst Jon Peace, show the comparative revenue performance of […]
J.P. Morgan is hiring in IT risk but faces skill shortage
J.P. Morgan is beefing up its technology risk team in Asia as cyber security becomes increasingly important to its business, according to Sophia Leung, the firm’s head of IT risk and security management for the region. But hiring is tricky due to a shortage of IT risk professionals who understand the complex needs of large […]
When investment bankers infiltrate suburbia
If there are investment bankers hanging out in Birmingham, then the Lord Clifden, a gastro pub in Birmingham’s trendy Jewellery Quarter, doesn’t seem to be attracting them. “I haven’t come across any of our customers who’s admitted to being a banker,” barmaid Sarah told us.”They’re all professionals, students and normal people.” Alan Weaver, Midlands Policy […]
Late Lunchtime Links: How brokers expense traders’ ‘treats’; Bob Diamond says it was never about the money
It’s been a good day for revelatory articles about the lives of financial services professionals. Firstly, the Wall Street Journal has an article about the outrageous happenings in the world of broker entertainment in London. Secondly, the New York Times has a heartfelt piece about Bob Diamond’s new life. The Wall Street Journal’s article is […]
UBS CIO Ashton-Rigby leaves for J.P. Morgan after less than a year
Mark Ashton-Rigby, the current chief information officer (CIO) for UBS’s investment bank, is leaving for J.P. Morgan after less than a year in the job. Ashton-Rigby is set to take the role of head of banking technology at J.P. Morgan in New York in August, according to sources. He joined UBS in May 2012 after […]
Why big banks are still getting it wrong in the Middle East
Big banks still can’t make it work in the Middle East, according to Manuel D. Ron, global head of co-development and investment banking at Integration Capital & Trade (ICT) – an international firm that focuses on Saudi Arabia. Ron, a former US army lieutenant who began his career at Citigroup in the 1980s, has worked […]
Would you quit Goldman Sachs for life as a headhunter?
It’s notoriously difficult to secure a role at Goldman Sachs and, once in, loyalty is expected and employee turnover remains low, at least for those who cut the mustard. Would you give it all up for a career as a headhunter – an occupation bankers sometimes compare to a used car salesman? Sophie Saeed, who […]
Lavish lifestyles keep high-rolling bankers hooked on Singapore
Singapore’s main lifestyle drawcards were once only of the serious sort: good schools, upmarket apartments, excellent public transport, and clean air (at least compared with Hong Kong). These days, however, bankers are finding new, more frivolous, reasons to adore the city-state. Singapore boasts the densest millionaire population in the world – and there are some […]
U.S. Investment Banker Bonuses 60% Larger than Europeans’
The average bonus for associates at U.S. investment banks in 2012 was more than 60% larger than that of their European brethren, according to a new survey. European banks softened the blow, however, by paying mostly in cash. Associates at U.S. investment banks took home an average bonus of more than $134k in 2012, up […]
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