UK
Sector: Debt / Fixed Income
Rumour has it that Lloyds wants to hire 150 people for its markets business before the end of the year
This has not been substantiated by the bank, but nor has it been denied: Lloyds allegedly wants to recruit 150 people for its wholesale banking business before the end of the year. The rumour is creating trepidation among other banks’ fixed income recruiters who fear their discontented salespeople and traders might be poached. Needless to [...]
The bad and less bad elements of McKinsey’s gloomy projections for investment banking
Recent reports into the future of the investment banking industry haven’t been particularly positive. There was the Morgan Stanley and Oliver Wyman report predicting the need for 20,000 back and middle office job cuts, and now McKinsey has suggested further redundancies may be necessary as investment banks grapple with new regulations. In a wide-ranging report [...]
Some more bad news (and some good) for banks’ FICC traders
After the latest batch of quarterly results, traders in the major banks’ FICC divisions don’t need any more reasons to fear for their employment prospects, but here it is. If the US loses its AAA rating, as is currently being threatened, revenues could slump and redundancies will follow. There is, however, a bright side. FICC [...]
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 [...]
A disturbing omen from Goldman Sachs with regards to job prospects in fixed income
Last week, Gary Cohn of Goldman Sachs made a largely ignored Investor Presentation at the Sanford Bernstein banking conference. Buried amongst it was a worrying fact about headcount trends in the equity markets. Cince 2000, Cohn said, revenues in Goldman’s equities business have tripled. Over the same period, he said headcount in its equities business [...]
A senior UBS banker explains how to ace interviews and avoid failure during your first days on the job
Lutfey Siddiqi CFA, head of FICC corporate coverage & FX distribution Asia-Pacific gives some sage advice to young bankers. It can be disconcerting for fresh graduates to shift from the heights of academia to the bottom rung of a bank. Apart from a reversal in status, many find the unarticulated rules of the game -expectations [...]
Volume recruitment makes a comeback in leveraged finance, allegedly
How hot is leveraged finance recruitment? Very boiling, according to some recruiters- but this is at the junior end. “Pretty much every team is looking for analysts and associates to work in leveraged finance right now,” says Adam Cairns at recruitment firm Arkesden Partners Limited. “Everyone seems to be hiring – it’s the mid tier [...]
An investment bank is born, and may be still hiring juniors
After its gestation and birth in 2009 and 2010 and some probable potty training in early 2011, yesterday was the day on which Otkritie Securities Limited presented itself to the public. “An investment bank is born,” proclaimed Roman Lokhov, CEO. “We have created a new entity and finished the formation of a full service investment [...]
Three smaller organisations with the potential for biggish hiring in 2011
We’ve already suggested where the big banks might be hiring in 2011, but there’s more to financial services than the largest, Western financial institutions. There are alternatives. And the alternatives are hiring. Here’s where you might want to send your CV, and why. 1) MF Global What A futures brokerage which is trying to turn [...]
BarCap’s FICC people are most at risk of redundancy
BarCap is making redundancies. Reuters cites a ‘spokesperson’ who says they’ve begun a pre-cull consultation process. Bloomberg says the cuts will involve ‘hundreds’ of people. Interestingly, Bloomberg also says that the cuts will, ‘follow a review how much capital each unit of the business uses.’ Banking analysts suggest that BarCap is rightsizing its business in [...]
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