UK
Tag: Front Office
Seven things Deutsche Bank’s fourth quarter results say about pay and hiring
Deutsche Bank’s fourth quarter results are out for 2012. The full details aren’t available yet – Anshu Jain and Jürgen Fitschen are embarking on the conference call accompanying the results as we write. But even at this stage, there are several things that anyone working in Deutsche’s investment bank should be aware of. 1. Deutsche Bank […]
If you’re in the big bubble: be scared
You may have seen a new Deutsche Bank report being bandied about in various publications today, suggesting that the easiest way for banks to cut costs is not to slash the bonus pool, but to increase redundancies in heavily-staffed, under-performing divisions. Essentially, it suggests, there’s a lot of scope for reducing headcount in M&A (banks […]
In view of recent events, this is where the new jobs are going to be from now on
Compliance. Systems. Controls. When Bob Diamond appeared in front of the Treasury Select Committee yesterday, in between averring his love for Barclays, he admitted that the bank’s “systems and controls weren’t strong enough,” and that compliance should have been informed of the LIBOR low-balling. In situations where compliance was informed, the issue doesn’t appear to […]
Late Lunchtime Links: Credit Suisse’s front office investment bankers would quite like to see some more back office people made redundant
Any minute now, Credit Suisse will apparently make a lot of senior level redundancies in London. Last week, City Am reported on a rumour that Credit Suisse is planning to eliminate 30% of its London-based MDs and directors. It’s a move that would appear to make sense: Credit Suisse’s costs are high, revenues per head […]
A depressing account of life in operations, from someone who wanted to be a trader
If you’re a student who wants to be a trader, but you still haven’t found a place on an investment bank’s graduate or internship trader training programme and are therefore resigned to working in the middle or back office (ie.Compliance and risk, operations, or finance), the Guardian’s latest anonymous banker interview may prove a little […]
Is an accounting qualification genuinely still a route into front office investment banking?
Back in the day, if you failed to get into a front office investment banking job (in this case corporate finance or equity research) as a fresh graduate, you still had options. The best one was to join a Big Four Accounting firm and to gain an ACA qualification. Thereafter, as long as you had […]
Six front office recruiters give their perspective on the market – and what it takes to get hired now
Things aren’t looking great, but they are looking better. Bob Diamond says this quarter is better than both the last quarter and the first quarter of last year. But is there really any hiring? We asked five senior headhunters in equities, fixed income, and corporate finance – all of whom wished to remain anonymous. These […]
GUEST COMMENT: It’s time to get realistic and apply for the job in the back office
Let’s face it: banking has lost its shine. Under the searing heat of the sovereign debt crisis, bonus pools have become puddles and we are all at risk of redundancy. Throw in the constant banker-baiting in the press and it’s hard to see where the appeal lies. It’s curious therefore, that so many young people […]
GUEST COMMENT: At times like these, you need to hit on the people you went to university with
One of the major ways to differentiate between those who do well in the City and those who don’t is the strength of one’s university alumni network. Some networks are very good – hosting regular drinks, which people make time to go to no matter how busy they are. They also foster the idea during […]
Could it be construed as inappropriate and unhelpful to target black students for back office roles?
Last time we published something questioning why there seem to be so many ethnic minorities working in non-front office jobs in investment banks, we were met with a deluge of comments, including some saying that racism is “institutionalized” in investment banks and that racial stereotyping is more profound in the UK than elsewhere. In this […]
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