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Bankers share skills in developing world
A career in financial services equips people for many challenges but working voluntarily in the developing world is not an immediately obvious one. Yet many bankers do exactly that. Until three years ago, Jean Pierre Sevos worked on Wall Street as a managing director in Asian equity markets for Salomon Smith Barney. Since retiring, he […]
Jobs roundup: Banks make senior M&A hires
As the year ends and bonus season approaches, hiring typically stutters to a halt. This did not prevent some firms making senior investment banking and fund management appointments last week. The Royal Bank of Scotland (RBS), HSBC and Dresdner Kleinwort Wasserstein (DrKW) all added senior staff. RBS poached David Bassett, from Citigroup, as its new […]
Credit derivatives set for bonus bonanza
Credit derivatives professionals received some of the biggest bonuses in investment banking for last year and they may be in for another bumper round this time. Headhunters say bonuses on credit derivatives desks will on average be at least 20% higher than for 2002. Charles Clouston, head of structured credit at I-Search, a recruitment firm, […]
Credit bonuses to rise up to 30%
Managing directors in credit roles at London investment banks will receive bonuses of up to 900,000 (€1.30m) this year, according to a new survey. These roles include credit derivatives structuring and trading as well as debt origination, according to the report by Longbridge, the headhunter, which surveyed 25 banks. A spokeswoman said credit staff overall […]
How to take a sabbatical
For that, it may be necessary to take a sabbatical. Sabbaticals have their roots in academia, where university teachers have traditionally been granted a year of paid leave for every seven or so years worked. They are increasingly cropping up in financial services Citigroup, Deutsche Bank, Credit Suisse First Boston (CSFB), Schroder Investment Management, and […]
Advisers set to win $50m fees in BofA Fleet deal
James Hance, BofA’s chief financial officer, said on Tuesday that the outside advisers – Goldman Sachs for BofA and Morgan Stanley for Fleet – were brought into the talks only ‘at the last minute.’ Hance said Goldman and Morgan Stanley would receive $25m each for their contributions to the deal, worth more than $47bn at […]
How much am I worth? European equities trader, Frankfurt
A panel of specialist headhunters give their assessment of typical pay packages: European equities trader, Frankfurt – salary €70,000-€120,000 ($84,000-$144,000); bonus 100% at best for most; up to 400% for those with good relationships In the 1970s, it was feared that in future machines would make many of us redundant: whether you were a lawyer, […]
Jobs roundup: Focus on equity research
There were mixed messages for equities researchers last week. Redundancies at HSBC set an ominous tone, but fund managers continued to boost equities research teams with additional hires. Ever since Eliot Spitzer, the New York State Attorney General, showed equity research has been compromised by corporate finance mandates, researchers’ position in investment banks has been […]
Bankers overcome doubts to open offices in Spain
International financial services companies are vigorously debating their prospects in Spain, with several companies setting up offices while others wonder whether to scale back commitments. Private equity funds are leading the way into the country. In October, Permira, a pan-European buy-out firm, announced plans to open an office in Madrid next March. Intermediate Capital Group […]
Stars get increased bonuses
Top sales and trading staff in credit and equity departments can expect increased bonuses of up to 30% this year, while more junior employees are likely to be disappointed with their pay, according to Longbridge, the headhunter. In a survey of more than 25 banks, Longbridge found salaries of managing directors in credit sales range […]
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