UK
Tag: Private Banker
GUEST COMMENT: I’ve worked at Deutsche Bank and Goldman Sachs. Now I run a bar. I have no regrets
Singaporean Colin Tay went from banking to beers when he left the financial industry after nine years. Formerly from Deutsche Bank, he now runs two businesses with a partner: Old Empire, a gastro bar, and TSA Wines, a beer and wine distribution company. He speaks to eFinancialCareers about his decision to give up the corporate [...]
Late Lunchtime Links: Brevan Howard is wide, wide open to applications from prop traders
If you’re a prop trader who’s feeling a little overlooked by investment banks, send your CV to Brevan Howard. It would really welcome it: ‘Brevan Howard welcomes prop traders,’ proclaims Financial News today. And: “I would hope that we’re an employer of choice for macro traders,” says co-chief executive Nagi Kawkabani, metaphorically grovelling for CVs. [...]
GUEST COMMENT: The CFA is becoming the quality standard for private bankers
An increasing number of private bankers are taking the CFA. In 2009, 11% of all charterholders worked as private client wealth managers/advisors. We see more and more private bankers taking the CFA for the following reasons: 1) Regulation After the events of the past 3 years, it’s fairly safe to say that regulators will expect [...]
Barclays Wealth: Wealth management (graduate programme)
Question: Could you please mention some of the challenges that the private banking world is currently facing? Answer: – A shift in global wealth distribution towards Asia, with the Middle East, China and India emerging as new wealth centers. – Regulatory changes to reduce tax evasion. Question: What are your developing areas both profesionnaly and [...]
Lunchtime Links: No nasal hairs at UBS; Harry Potter party at RBS
Just in case you’re a UBS private banker who thinks it acceptable to be as facially hirsute as Brian Blessed, it’s not. Nor is acceptable to grow your nose hairs, have smelly breath, smelly shoes, shoes which are too small (leading to pinched smiles), cowboy boots, or piercings. All this and more is apparently contained [...]
Lunchtime Links: Big hiring and collapsing EMEA revenues at JPMorgan; and revisiting some scary bonus suggestions
JPMorgan’ has initiated 2nd quarter reporting season and released its 2Q results. There’s a lot of excitement about how overall profits are up 76%, but it’s not all wonderful. In particular, something seems to be up at JPMorgan’s investment bank in EMEA. While revenues across the bank fell 24% q-on-q, revenues in EMEA fell 45%. [...]
The good news (and bad news) about UK wealth management recruitment
With seemingly hundreds of wealth management roles being created in Asia, it seems that any self-respecting private banker choosing to remain in the UK is missing a trick. But while the UK is a long way from returning to the heady days of 2007, they recruitment market is looking relatively healthy again, according to recruiters. [...]
Goldman’s London bankers ARE paid double; this may not prevent them from leaving
It was a mixed weekend for Goldman Sachs. There was a strong defence of the firm’s market making activities by Lloyd Blankfein on Charlie Rose, but Goldman conceded that it does in fact face ‘several criminal actions’. And despite a 3% surge in its stock price yesterday following kind words from Warren Buffett, the share [...]
Guest Comment: even senior private bankers make serious interview mistakes
Attending a job interview for private bankers these days is getting trickier than ever. After the era of hasty hiring (with little due diligence undertaken) just a few years ago, banks are becoming smarter and more cautious in their hiring approach. Private bankers can no longer ace their interviews purely with the promise of potential [...]
Lunchtime Links: A trader at BNP Paribas is earning €10m
Needless to say he (we assume it’s a male) is based in London. Equally needless to say, SocGen is paying somewhat less: according to the Figaro, which elicited the figures from unnamed sources, SocGen’s highest paid trader is earning €6.5m this year. The alleged figures confirm the notion that French banks pay generously at senior [...]
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