UK
Sector: FX & Money Markets
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 [...]
Despite haemorrhaging all those staff, Barcap’s doing well in FX. UBS isn’t
Wonderful news for BarCap’s FX professionals: they’re close to achieving their avowed aim of displacing Deutsche Bank as the world’s number one in FX. The new Euromoney FX survey is out. It reveals that BarCap is now the world’s number two in FX, above UBS, which has slipped to position 3. Arguably, this is a [...]
Fixed income recruitment has died a death
London’s fixed income headhunters have nothing to do. “If I were to rank activity on a scale of 1-10, I’d say we’re at 1 right now,” says the head of one FICC search boutique. “It started at 10 in March, went to 6 during the summer, and now there’s nothing. If we’re lucky, we might [...]
So, that’s it for rates hiring then
If you work in rates, and you measure happiness in terms of the number of people who want to hire you, 2010 will have been an ecstatic time. During the past few months, a lot of places have hired rates professionals. BofA has poached from BarCap, RBC has declared an intention of recruiting 25 new [...]
If the axe falls, it will fall hardest at UBS, BofA Merrill, Nomura, and Morgan Stanley
Earnings season kicks off this week, with JPMorgan, BofA and Citigroup finally expected to divulge what happened in the three months from April. Given that this includes the difficult month of May, it’s not likely to be pretty, although results may be massaged by debt valuation adjustments. If Q2 results aren’t matched by an improvement [...]
EDITOR’S TAKE: The secret hiring plan at RBS
Imagine that you are a state owned British bank. Imagine too, that after a long while hoping that you might be permitted to return to private ownership like your American counterpart, you find that plans to sell the British government’s 83% stake have been put on hold for at least 18 months. And then imagine [...]
The ever-more complex role of an FX techie
The race to develop a cutting edge FX e-Commerce trading platform has meant technologists in this space have been highly sought after for some time now. However, with FX IT increasingly leaning towards algos and complex event processing (CEP), the sector faces challenges finding the right talent. Fragmented markets and the need to access liquidity [...]
Unfortunately, it will now be difficult to find an FICC job at Credit Suisse
Remember Credit Suisse’s enormous hiring intentions for the front office? In March it said it wanted to make 30 new FX sales hires, to hire 20 new people in leveraged finance, 40 people for rates, and 40 people for emerging markets. Two months’ later, it seems most of those roles have been filled. At a [...]
As Chris Fleming and Steve Ashley prepare to start at Nomura, is RBS’s rates business going downhill?
It’s now nearly three months since Steve Ashley and Chris Fleming, ex-head of rates, and a senior rates salesman, left RBS. After spending much time in the garden, the two men are reportedly getting ready to start their whole new lives at Nomura. RBS’s first quarter results, released today, make their timing look rather fortuitous. [...]
Why is BarCap losing FICC professionals?
Maybe it was inevitable. As we’ve already noted, Barclays Capital didn’t do brilliantly in fixed income, currencies and commodities in the first quarter: revenues fell 67%. In what may not be an entirely unrelated phenomenon, BarCap appears to be losing staff from its FICC business. As FX Week pointed out recently, it’s been ‘haemorrhaging’ FX [...]
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