UK
Sector: Capital markets
These are the teams at each bank that do and don’t deserve a substantial uplift in their compensation this year
2011 probably isn’t going to be a great year for investment banking pay. The general consensus is that compensation will be lower than last year, particularly in markets businesses were revenues are likely to be down substantially. However, revenues will not be down across the board. Within IBD, some banks’ businesses have had an exceptional [...]
This is where you should be working, bank by bank, market by market
If you aspire to work for a bank that’s the global market leader in your product area, but for some reason are ignorant as to which bank that is, we have the answers. Derived from figures from analysts at JPMorgan, who last week released a detailed analysis of each banks’ revenues, by product, for 2010 [...]
An overseas investment bank with big UK expansion plans
Banco Espírito Santo wants to hire. Specifically, we understand it wants to hire both mid-market M&A bankers and ECM bankers. It’s signalled its aspirations this week with the solicitation of Anthony Fry from Evercore. Fry, who is now chairman of UK banking at the company, was previously head of investment banking at Lehman Brothers and [...]
IRISH EDITOR’S TAKE: Let’s be honest, AIB’s capital markets staff deserve those bonuses
As we exclusively revealed yesterday, AIB is set to shell out €40m to pay its capital markets staff backdated bonuses from 2008. The resulting furore has been both surprising and laced with tub-thumping anti-banker vitriol. The timing of the move – just before Christmas and immediately after one of the most austere Irish budgets in [...]
Just be thankful you don’t work for an Irish bank in London
Irish banks, as they’re weaned off ECB funding and learn to “stand on their own two feet once more”, are going to be decidedly slimmer. But while those in Ireland sweat it out on future redundancy announcements, banks are struggling to keep hold of talent in their UK capital markets divisions. Irish banks have substantial [...]
It’s possible that even more economists than usual are trying to leave the public sector
Forget Alan Budd, whose departure from the Office of Budgetary Responsibility this week seems to have been a slight anomaly born of political harrumphing and the fact that he’s in his 70s and it was only ever going to be a short term position anyway – economists appear to be leaving the public sector. Hence, [...]
This is a very exciting time to be working in FIG DCM, providing you’re at the right bank
What with the UK banking levy and the Bank of England’s latest Financial Stability Report, this is an interesting time to be a financial institutions group debt capital markets professional, unless you’re at somewhere like RBS. The banking levy, which comes into full force in 2012, will be raised on banks’ consolidated balance sheets, but [...]
GUEST COMMENT: Do M&A bankers actually add value?
Earlier this year, Guy Kawasaki, the US venture capitalist, made the following comment to the New York Times: “With investment banking, you make a lot of money, and you get a distorted feeling of how wonderful you are. You’ll be flying around in corporate jets and you’ll be attending board meetings, but you don’t really [...]
Bad news for bonuses in ECM and M&A
Investment banking businesses weren’t doing particularly well to begin with this year. European ECM revenues fell 42% between January and April, and European M&A fell to its lowest level since 2003 in the first quarter Until today, it seemed that ECM at least might perk up a bit after the UK election: earlier this week, [...]
Have banks over-hired in ECM?
After a promising second half of 2009, equity capital markets (ECM) volumes in Europe have stalled in Q1 of this year. Is there a chance that investment banks may have prematurely staffed up in this area? Globally speaking, the ECM space looks relatively healthy – volumes have increased 67% year-on-year to stand at $189.2bn, according [...]
Follow eFinancialCareers
What is RSS?
Advice
