UK
Sector: Global custody
Where you can still get a job fairly easily: Luxembourg
Now that redundancies have come to London, if you’re a financial services professional with an accounting qualification and an urge to see the world, you might want to check Luxembourg. Recruiters in Lux say there’s still plenty of hiring going on there. “It’s been picking up since last year,” says Robert Van den oord at [...]
GUEST COMMENT: How to become a bond trader after giving up on the City and going to work in the Midlands
I’m on my way to becoming a bond trader. It’s what I’ve always wanted to do. However, there was a time when I gave up entirely. While I was still at university, I underwent an internship in an investment bank so unendurable that I walked out halfway through. At that stage, I was sick of [...]
Unfortunately, this is unlikely to be the start of a rush of hiring for stock lending in Europe
On the other side of the Atlantic, there is a lot of excitement over recruitment in the rarefied world of stock lending. Specifically, State Street is having a few problems after several of its executives quit to set up/join a rival start up. It’s suing three of them for, using “confidential information and trading on [...]
Prime broking sales staff are the new black
Prime broking recruitment is heating up. And prime broking sales staff are the hottest of the lot. Today, the Financial Times reports that Citigroup has hired 13 hedge fund servicing staff out of BarCap and Morgan Stanley. Deutsche has also declared its intention of expanding its prime broking business in Asia. A proliferation of new [...]
Could you (and would you) work in Malta?
In one of the more bizarre recent job moves, the former co-chief of global credit at Citigroup, Mark Watson, has re-emerged as chief executive of Malta’s Mediterranean Bank. This begs the question whether the island is keen to attract UK financial talent. The simple answer is that it does want to tap UK financial services [...]
Prime broking recruitment has gone truly crazy
Two weeks ago we said prime broking recruitment was looking a little wild. Now it’s frothing at the mouth. In the past few weeks, Citigroup has hired a new head of global trading for its prime finance unit (the sixth senior prime broking hire it’s made this year), JPMorgan has reshuffled management of its prime [...]
Pity the victims of the back office
It’s tempting to conclude that the back office is being unfairly targeted for redundancy. Most of the latest 1,800 cuts revealed at Morgan Stanley will come from support functions, Citigroup plans to trim its operations, Bank of America/Merrill is set to scale-back admin teams and Lazard’s intention to reduce staff by 10% will mainly affect [...]
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 [...]
Fund management IT jobs drying up
Fund managers faced with large redemptions and shrinking assets under management are putting IT spend on the back burner, and hiring has slowed to a snail’s pace. The drop isn’t as sharp as it is in sectors in the securities and investment space, however. US fund managers are expected to cut technology spend by 4% [...]
Ageism – one banker’s personal perspective
After 30+ years plus in global custody and middle-office operations, it seems to me ageism is still rife in financial services. Over the years, I’ve dealt successfully with various employment agencies as an employer. However, when the boot is on the other foot and people of my age are looking for a job, it’s a [...]
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