UK
Sector: Operations
Stuck with high permanent salaries, all sorts of banks are cutting contractor rates
Goldman is reducing its London salaries slightly, but it seems to be the only bank doing so – so far. On the other hand, all manner of banks are said to be cutting the amounts they pay contractors. First among them is UBS, which is reportedly reducing its contractor rates by 10% as part of [...]
GUEST COMMENT: Why do so many ethnic minorities in financial services end up in IT, or the back office?
Having broken away from working in our parent’s corner shops and restaurants, second generation Asians like myself are now often stereotyped for following professions such as medicine, law or dentistry. But you only have to walk through the office of any major bank in the Square Mile or Canary Wharf to see that blacks and [...]
Want to break into and move up in operations? One senior Morgan Stanley manager tells you how
Stephen Barclay, Chartered MCSI, vice president at Morgan Stanley’s Global Wealth Management Group in Glasgow gives some sound advice on best to boost your career in investment operations in Scotland. Breaking in 1) Get an internship, or at least some work experience If you have aspirations to break into an operations role, it’s perhaps not [...]
Great big growth area: collateral management?
Traditionally, collateral management wasn’t at the sharp end of interesting jobs in financial services. A support and operations function, it used to be about managing reconciliations and margin calls, usually on a business-by-business or desk-by-desk basis. This, however, is changing. New liquidity and financing requirements are prompting the emergence of collateral management as a centralised [...]
What to do if you want to be one of the people earning more than 1k a day in change management
The new rock-star-media-mogul-big-swingers of the financial services industry are not investment bankers. They are not traders. They are not hedge fund managers. They are change managers. Since 2009, demand for people who can help banks get to grips with the changes they need to make to meet new regulatory demands has gone through the roof. [...]
GUEST COMMENT: I’ve worked at Deutsche Bank and Goldman Sachs. Now I run a bar. I have no regrets
Singaporean Colin Tay went from banking to beers when he left the financial industry after nine years. Formerly from Deutsche Bank, he now runs two businesses with a partner: Old Empire, a gastro bar, and TSA Wines, a beer and wine distribution company. He speaks to eFinancialCareers about his decision to give up the corporate [...]
Banks have become far too fussy to interview anyone
If you manage to make it into an interview this year, you may not get far. In May, the chief of staff at UBS wealth management in the UK revealed that they were only offering 6% of the people they interviewed a job. Later that month, one fixed income headhunter suggested that only 2% of [...]
If you want a new job, these are three areas where you should definitely find one
Middle office recruiters in London are busy. While some front office recruiters moan about a lack of action, middle office recruiters are fully occupied trying to find candidates for their constant flow of new jobs. Here’s where the hiring is happening the most: 1) Risk Risk recruitment is being driven by regulation. Busy risk recruiters [...]
Has Jefferies hired rather too many people in the front office?
Financial News has been familiarising itself with the recently released results of Jefferies International, the business which houses Jefferies’ European and Japanese operations. We’ve had a look too. The results are curious. They confirm that Jefferies hired a heap of people in the 11 months to November 2011. Strangely, they also show that its headcount [...]
Banks are bursting to hire project managers
Banks are continuing to roll out huge projects around cost efficiencies, risk management and front office integration, which means the spiked demand for project managers is showing no sign of abating. As we’ve alluded to previously, project managers have been riding on the crest of unprecedented demand as banks battle regulatory change, integration challenges and [...]
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