UK
Sector: Equities
Hiring alert: Convertibles
Convertible bonds endured a terrible end to 2008, but now there are signs things are beginning to look up again. And, perhaps more surprisingly, there’s some hiring going on. “The disappointing absolute performance of the asset class has its benefits as it now offers very attractive investment opportunities with limited risk and attractive upside potential [...]
Punishing payouts at BNP Paribas
All is not well over at Harewood Avenue. BNP Paribas bankers have been informed of their bonus terms and it seems they’re not very favourable. According to insiders and headhunters, BNP is paying little or nothing in the way of cash and is deferring all or most of this year’s bonus as stock to be [...]
No one was expecting a big bonus at Lloyds anyway
Before September last year, working in the markets division of Lloyds TSB seemed quite a good bet. Lloyds not only offered the stability of a retail deposit base, it was also growing while most other banks were shrinking fast. In 2008 it hired numerous senior bankers. They included Chris Babington, JPMorgan’s former head of Northern [...]
Let’s all work for a Japanese bank
Japanese industrial output is diminishing at a truly frightening rate and Mizuho, Sumitomo, Daiwa and Nomura all have issues of their own, but Japanese banks may turn out to be some of the only places still hiring this year. Despite bringing on thousands of people from Lehman in 2008 and then cutting another 1,000 soon [...]
Zeroed at UBS
Contrary to hope/expectation, it now appears that UBS has done the deed and paid zero bonuses to a lot of people in its investment bank. CNBC reports that US managing directors and senior vice presidents at UBS were told yesterday they will be paid absolutely nothing at all as a bonus this year, followed by [...]
Wanted: discreet individuals to help tap the markets
On one hand, corporate brokers are having a hard time. On the other, things are looking good. The main problem, for the cadre of very British, very charming individuals who help listed companies decipher the vagaries of the market, is that there are far fewer IPOs than there used to be. At the same time, [...]
Beware the coming cull in equity derivatives
We’ve warned about big cuts in equity derivatives before. It now seems those cuts have either come already or are coming very soon. Rumour has it that JPMorgan has trimmed various senior members of its equity derivatives team, including Neil McCormick, global head of its equity exotics and hybrids and hedge fund-linked business, David Choukroun, [...]
GUEST COMMENT: Analysts and salesmen are about to make a comeback
Following the collapse of the primary markets and the bursting of the TMT bubble in 2000/2001, execution services emerged as the dominant force in the cash equities markets. As a result, for the past eight years, the differentiating factor in equity sales and trading has been the quality of execution. This trend was given impetus [...]
So who will get paid at Citigroup?
Citigroup bankers won’t be informed of their bonuses until the end of this month, but as anyone who read Vikram Pandit’s New Year’s Eve memo will already know, the Citigroup bonus pool is ‘dramatically lower than last year.’ The overall implication of the memo appeared to be that a lot of Citi bankers will receive [...]
BarCap and Macquarie keep equity research hiring alive
Barclays Capital and Macquarie are hiring equity researchers, which is probably more than can be said for anywhere else at the moment. According to Macquarie’s own website, the Australian bank appears to be pushing ahead with plans to grow its European cash equities franchise, and is interested in hearing from equity researchers of any ilk, [...]
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