UK
Sector: Private equity / Venture capital
The poor cousins in private equity
The US private equity group unveiled its finances at the weekend, revealing that Stephen Schwarzman, its chief executive with a penchant for Rod Stewart, made US$398m last year in salary and carried interest. Senior chairman Pete Peterson made US$212.9m (according to the Financial Times) and Schwarzman’s anointed successor, Tony James, earned US$97.3m. While Schwarzman’s many [...]
Cleaning up private equity
Will people still want to work in private equity if they have to pay tax at a higher rate than the average cleaner? Gordon Brown has promised to “review” the tax advantages of working in private equity after Nicholas Ferguson, chairman of SVG Capital, informed the Financial Times earlier this week that lax capital gains [...]
Hedge funds vs. private equity funds
In one corner you have PE funds, in the other hedge funds. Which do you go for? Dick Bove, analyst at Punk Ziegel & Co. in the US, says private equity funds are the best bet because they’re liable to be more stable over time: “Most hedge funds are under pressure to function in short [...]
360k for private equity MDs (and that’s at small funds)
Prodigious funds pay prodigious packages, but how does the middle market fare? According to the latest salary survey from recruitment firm EM Finance, associates in middle market private equity funds now command total packages of up to 180k, plus carried interest (‘carry’). At the other end of the scale, EM says managing directors in middle-market [...]
Destination Saudi Arabia
Saudi Arabia may not sound like the most enticing place for expats, but it’s attracting increasing numbers of them to its growing banking sector. Headhunters report gargantuan growth in Saudi finance jobs. Given banks’ interest in the kingdom, this is hardly surprising. Deutsche Bank, JPMorgan, HSBC and BNP Paribas are already there. Goldman Sachs and [...]
Is an MBA a good route into private equity?
Business schools report a rush of interest in private equity careers from MBA students. But is an MBA the best way into the industry? “We’re definitely seeing very strong interest in private equity from the students and we’re seeing more funds posting jobs on the website,” says Eleanor Fernandez, finance careers advisor at the London [...]
The poll debate: Time to give private equity a wide berth?
According to a poll over recent weeks, upwards of 60% of you think private equity is more, or equally, appealing following its recent tribulations. Right or wrong? First (for anyone who doesn’t know), a quick rehash of what those tribulations are: i) Lambasting by left-wingers Last month, Northern Ireland secretary and candidate for the Labour [...]
Quit the City and work in the regions
“If you’re a corporate financier with good experience, you’ll find an increasingly broad range of opportunities outside the City of London,” says David Twiddle, managing director of London and Leeds-based search firm Hamilton Caine. He adds: “Boutiques are opening all the time. Plus there are jobs to be had in the Big Four or Big [...]
Private equity: have you missed the boat?
One headhunter says PE funds are becomingly increasingly choosy about who they hire. Others say their appetite for staff remains ‘insatiable’. “There was a wave of private equity hiring at the associate and principal level last year, around the same time as a wave of fund raising,” says Christopher Kirkness, a consultant specialising in private [...]
Private equity: how much can you really earn?
Charles Sherwood, senior partner at Pemira, has criticised calls for disclosure of private equity pay as ‘financial voyeurism’. That makes it no less interesting to peek behind the curtains. The left-wing press has been particularly eager to rustle the pelmet. Last week, the Guardian quoted Andrew Wileman, a business consultant, who it claimed has worked [...]
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