UK
Sector: Private Banking / Wealth Management
Private banks on the lookout for derivatives expertise
Derivatives specialists looking for a change from life in investment banking, are increasingly sought after by private banking operations. Christian Sulger Buel, a headhunter at search firm Sulger Buel and Co, says private banks are looking to boost investment teams with staff conversant with derivative products. “Clients are proposing these products,” he says. “And banks [...]
Cazenove staff share record bonus pool
Staff at Cazenove, the UK stock broker, have shared a record bonus pool after a lucrative first year for their joint venture with US investment bank JP Morgan. At least four senior salesmen were paid bonuses of more than 1m (€1.46m), according to sources, with compensation packages at the broker moving more into line with [...]
Relationship manager bottleneck worldwide in 2006: Guest comment
Recent announcements of recruitment ambitions across the globe at major private banks should ring alarm bells to the industry instead of New Year’s bells to headhunters. For wealth managers looking to make a move, however, 2006 could prove a profitable year. Credit Suisse, UBS, BNP Paribas, SG Private Banking, US Trust, Bank of America, Morgan [...]
From liquidation to stockbroking: Ask the Expert
Q. If you have been a director of a company that has gone into liquidation is it still possible to become a financial advisor and stockbroker? I know you have to step down as director. A. Yes, it is possible, but you do have to disclose this fact to the Financial Services Authority (FSA) in [...]
Refco arbitrage team joins Cazenove
Cazenove has hired a seven-strong risk arbitrage team from Refco, the bankrupt US futures brokerage. Four members of the team, led by Simon Parrott, will start work at UK broker Cazenove’s London offices this week. The others will join next month. Aside from Parrott, the recruits are Tom Beckmann, Li Dunlop, Richard Hammond, David Hurley, [...]
Job wrap: Pisker exits Dresdner
Last week’s big news was the revelation that Andrew Pisker, London-based chief of executive of Dresdner Kleinwort Wasserstein (DrKW), was making a swift exit. Pisker’s retreat follows a shake up in which DrKW is to be folded into the corporate banking division of Dresdner Bank. Stefan Jentzsch, who left German bank HVB earlier this month, [...]
Jentzsch and Pisker pitched into DrKW shake up
Stefan Jentzsch, who this week resigned as head of investment banking at HVB, is in talks to head a new corporate and investment banking division at German rival Dresdner Bank. The division would replace its existing investment bank, Dresdner Kleinwort Wasserstein. A source at the bank said that Andrew Pisker, London-based DrKW chief executive, is [...]
Private banking sector view: Home-grown players winning
Being a millionaire is not what it was, according to a recent study undertaken by the British bank Coutts and Co. To be really comfortable in 2005 you need at least 3 million – or its equivalent in dollars, euros or Swiss francs – to your name. Fortunately for the wealth management industry, increasing numbers [...]
Pay for private bankers: Europe catching up to US
Whilst high net worth clients tend to favour private banks close to home, the search for the best talent in private banking crosses borders. The lure, of course, is pay. Read on to see what you can expect to earn in different financial markets. UK and US: More competitive Earnings in these two core private [...]
Recruiters look to specialisation as established fields cut back
The cash cows can no longer be milked. In the late 1990s M&A, equity and corporate finance may have provided a steady stream of income for investment banks and headhunters alike. But times have changed. With mandates for M&A searches a thing of the past, headhunters are looking to new areas to replace lost revenue [...]
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