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Tag: Equity Derivatives
After a pause, equity derivatives tech hiring is taking off again
Before the Kweku Adoboli ‘incident’ last year, equity derivatives, and Delta One desks in particular, were quietly doing well. And, as we pointed to in August, there was a steady stream of IT hiring emerging as more banks were seeking to bolster their equity derivatives business. All that changed very quickly in September, of course, [...]
Everything you need to know about the fantasy joint venture between Credit Suisse and UBS that would annihilate 13,000 jobs
On one level, it all makes sense. By creating an investment banking joint venture of the kind suggested by JPMorgan analyst Kian Abouhossein, Credit Suisse and UBS would be propelled into the top five investment banks globally and achieve an estimated $19.9b in revenues by 2013. The combined banks would: – Be the second large [...]
Goldman Sachs is focused on all the opportunities in Europe; here is how you might get employed there
With European banks like SocGen suffering a 93% year-on-year drop in operating income in the third quarter and European banks like Credit Suisse culling staff and pulling back from businesses like CMBS origination, rates and commodities, Goldman Sachs can – it seems – scent an opportunity. Yesterday, Nomura analyst Glenn Schorr published a note on [...]
Lunchtime Links: A lot of people want to leave BAML in the US; a lot of people are being made to leave Credit Suisse in London
As we’ve said, there appear to have been a few issues in Bank of America’s sales and trading business recently. Normalised FICC revenues were down 91% year-on-year in the third quarter. William Wright at Financial News points out that of the 14 senior managers named in November 2008 to run BAML’s markets division under Tom [...]
A convenient witch hunt is what’s needed to clear out the equities business at UBS
Things are moving at UBS. An internal audit team has been put on a ‘day and night rota’ in an effort to find out what went wrong. Francois Gouws and Yassine Bouhara, co-heads of global equities, have handed in their resignations. A further 8 front office staff are also said to have left. The internal [...]
You may want to work for BTG Pactual, especially if you currently work for UBS
While European and US investment banks appear to offer an uncertain future, the same cannot be said for BTG Pactual, the privately owned Brazilian investment bank with aspirations for a large IPO next year to fund its “ambitious expansion.” Today it emerged that Roger Jenkins, formerly the highest paid man at Barclays Capital and someone [...]
YOUR KILLER EQUITIES INTERVIEW QUESTIONS: How does the delta and gamma evolve through time on a variance swap…
Here’s the latest question sent in by site visitors who have attended equities interviews at investment banks. This question has allegedly been asked in equity derivatives sales interviews at BNP Paribas. The answer has been suggested by the person who submitted the question (and is not being advocated by us). If you disagree with the [...]
How hard is it really to find a job now?
Front office hiring has shut down. It is defunct, kaput, left for dead in the long grass. Depending upon who you speak to, next year will either be a lot better, or far worse. “Everyone’s quietly optimistic that there will be a lot more hiring next year,” says a search consultant specializing in equity derivatives [...]
WHERE THERE IS DEFINITELY STILL HIRING CURRENTLY: Delta One
We touched upon the relative hotness of investment banks’ Delta One desks a few months ago, but in a world where front office hiring has drastically retracted, it remains an area of recruitment. More cash equity traders and sales traders are eyeing a switch across. Recruitment sources suggest that the likes of Citigroup, BoA Merrill [...]
The bad and less bad elements of McKinsey’s gloomy projections for investment banking
Recent reports into the future of the investment banking industry haven’t been particularly positive. There was the Morgan Stanley and Oliver Wyman report predicting the need for 20,000 back and middle office job cuts, and now McKinsey has suggested further redundancies may be necessary as investment banks grapple with new regulations. In a wide-ranging report [...]
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