UK
Tag: Corporate Finance
Lunchtime Links: The stupidity of Jon Corzine, the power of an MBA from HBS, the possibility that British banks will leave London to avoid this new levy increase
Today, further details have emerged suggesting the extent to which Jon Corzine was out of control at MF Global. Bloomberg reports that he actually bet $11.5bn on European sovereign debt in an effort to increase profitability at MF Global – more than twice the amount he disclosed to investors. Having engineered the trades himself, Corzine [...]
Sectors Explained : Mergers and Acquisitions
Because of its reputation as the glamour side of investment banking, mergers & acquisitions (M&A) is one of the most competitive sectors to break into. M&A teams in investment banks advise client companies on mergers (where two companies join up as equals) and acquisitions (where one firm takes over part or all of another). Big [...]
What hope is there when even these small houses are laying everyone off?
It’s not been a good morning: it’s emerged that now Citigroup is planning 900 redundancies in its investment bank, SocGen is planning “hundreds” of cuts in its corporate and investment bank, and everyone is anticipating a lot of shrinkage when UBS announces its strategic plan tomorrow. In the current climate, this isn’t unexpected and – [...]
It pays badly, but would you now consider a role at Standard Chartered?
To many investment bankers, the prospect of working for Standard Chartered has never been overly appealing, largely because of its reputation for being prudent with pay. However, it is one of the few institutions still hiring, so is it now worth considering? Standard Chartered has released its Q3 interim management statement this morning. As is [...]
Late Lunchtime Links: Morgan Stanley’s three main options for saving European banks
While Morgan Stanley has some problems of its own, these have not stopped its European equity analysts from busying themselves in search of solution to the trials of the European banking system. Following yesterday’s rescue of Dexia and a report in today’s Financial Times that, ‘European Union finance ministers are examining ways of co-ordinating recapitalisations [...]
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 [...]
Put your questions to the head of graduate recruitment at the Royal Bank of Scotland
Michael Maddick, head of graduate recruitment at Royal Bank of Scotland has agreed to answer some of your questions and offer some advice as this year’s graduate recruitment season kicks off. We’ve got the ball rolling with the Q&A below, but if you’d like to post your questions in the comment box at the bottom [...]
Why you may or may not want to work for one of the Chinese banks that’s hiring in London
Chinese banks have big plans for London; they’re currently examining the plausibility of hiring hundreds of investment bankers in the UK. As we’ve mentioned previously, there are a number of Chinese banks already in the UK – Bank of China, China Construction Bank and the Industrial & Commercial Bank of China (ICBC), while the Agricultural [...]
Tough times: investment bankers are switching to wealth management
In 2009, when investment banks were making thousands of redundancies, wealth management was considered something of a sanctuary from the cuts. We’re not quite back to those bleak times, but in the wake of heavy job cuts, more people are now considering the switch. Both Credit Suisse and UBS have unveiled plans for extensive job [...]
Prop traders’ hedge fund spin-offs are beginning to expand
Investment banks’ star traders are leaving to set up hedge funds. Last week it was Todd Edgar and his team from BarCap and this week Citigroup’s Sutesh Sharma unveiled plans to go it alone as the bank winds down its prop trading activities. These are high profile examples, but this trend is nothing new. The [...]
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