UK
Sector: Investment Banking / M & A
GUEST COMMENT: Your first year in M&A will be filled with aborted deals
If you’re starting out in M&A, you’re probably excited about all the deals you’ll be working on. Everyone wants deals. Everyone needs deals: you need deal experience for your buy-side interviews and for your CV. The only problem? You’re not going to get any (deal experience). What people don’t tell you is that most M&A [...]
The recently hired in M&A are becoming the recently fired in M&A
Banks that were hiring are now firing. There is a predictable symmetry between those who’ve been recently hired and those who are now being fired. As the outlook worsens for M&A, recruiters say many of those being let go are associate- level investment bankers who were hired externally (either from MBA courses or as recently [...]
Should you too be taking a sabbatical at this particular point in time?
Financial News points out that UBS investment banker, Hermann Prelle, who was formerly co-head of EMEA investment banking and head of German M&A business, has come back from a sabbatical to what appears to be a promotion: he is now chairman of M&A in EMEA. Whether this is really a promotion is questionable: chairman roles [...]
Lunchtime Links: In this market, your job will be safe only if you are working for a continental European bank in its home country
As Dexia is backstopped by French and Belgian governments (again), banking leaders have been standing up at the Bank of America Merrill Lynch 16th Annual Banking & Insurance CEO Conference in London and saying what they think is coming next for their businesses. As finance blogger Ian Fraser points out, this is precisely the conference [...]
Is it really true that recruitment won’t recover until 2013?
How bad is it out there? Very, according to various analyst reports on the state of the banking industry. Nor will it get better soon. Last week, analysts at Bernstein Research issued a note on Goldman Sachs and Morgan Stanley suggesting that the revenue recovery they’d predicted for 2012 won’t happen until 2013. Analysts at [...]
Goldman Sachs, ruler of the world, now contemplating cutting around 1,700 staff
While a random day trader/motivational speaker is going around telling the BBC that Goldman Sachs rules the world and everyone’s savings are about to disappear, Goldman Sachs is having a few other issues to deal with. The New York Times says the bank is drawing up plans for deeper cost cuts and that it will [...]
Is it even worth applying to an investment bank this year?
2012 is shaping up to be an unfortunate year to graduate if you want to work in an investment bank. Three disruptive forces are at work. In the first, banks have made comparatively few offers to last year’s interns. In the second, some (but not all) banks have filled all their front office graduate places [...]
Oswald’s exit and its disastrous implications for what comes next
It is a black sort of Monday if you work at UBS. Needless to say, Oswald Gruebel has gone. According to the Financial Times, his exit was ultimately precipitated by a disagreement over strategy: Gruebel wanted UBS to remain a universal bank, comprising asset management, wealth management and investment banking; the board didn’t. So, what [...]
Accounting firms are hiring massively now and will fire massively later, says the head of recruitment in an investment bank
Banks are firing, accountancy firms are hiring. Accountancy firms are not just hiring in small numbers; they are hiring in huge numbers. Deloitte has declared its intention to hire 68,000 people over the next four years. That’s equivalent to nearly two Goldman Sachs’ worth of employees. This year it hired 49,000 people. PricewaterhouseCoopers is equally [...]
This Russian bank may hire you when you lose your job
Over the past week, Renaissance Capital has become better known for its diminishing trading income (down 94% in London in the year to December 31st 2010) than its enthusiasm to recruit. This is unfortunate: despite that revenue apocalypse, RenCap is still hiring in London. The bank’s own website shows 5 open positions in London, for [...]
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