UK
Tag: Senior Management
RBS has been quietly recruiting for certain technology roles
The words ‘RBS’ and ‘expansion’ have not often been used in the same sentence recently. However, the bank is still pouring more money into certain technology functions and has a desire to recruit permanent employees in this area. The bank has been improving its equities execution platform that it inherited from ABN Amro since 2009 [...]
This could be the year that clawbacks become an issue
UBS probably isn’t going to go for clawbacks. As Kweku prepares to reappear in court today, Sergio Ermotti let it be known yesterday that rather than clawback Adoboli’s losses from last year’s deferred bonuses, he’ll (probably) just pay less in bonuses this year. UBS reserves the right to clawback bonuses in the event that a [...]
This week it’s FICC redundancies at Credit Suisse; last week it was FICC redundancies at BarCap; next week it may be FICC annihilation at UBS
The great fixed income currencies and commodities retreat is underway. After months of consultation, people are actually losing their jobs. In the last couple of weeks, recruiters claim around 60 people have been plucked from BarCap’s FICC business and tossed onto the employment market. “It seemed to be a question of last in first out [...]
INVESTMENT BANKING INTERN DIARY: It’s the last week, and all I can think about is my bed
This is where we will be posting this year’s anonymous investment banking intern diary. The author will be reporting back weekly on what it’s really like to spend the summer in the capital markets team at a leading investment bank. WEEK TEN The final week was the slowest so far of my internship and, after [...]
A powerful, new, and previously overlooked reason why senior management may let go of lots of people soon
As we clarified last week, although banks are making redundancies, they are not making many. So far, redundancies as a proportion of total employment have been very, very muted. Reuters thinks this is about to change slightly. Yesterday, it ran an article saying hundreds of redundancies are coming soon and that Greece will hang over [...]
GUEST COMMENT: You know you’re sick of banking when…
1) The more important you are at your bank, the higher probability your urgent emails or calls always “just happen” to arrive on your iPhone or BlackBerry during someone else’s meeting. 2) Your boss insists on using his iPhone/BlackBerry, even when his landline phone is right there at his desk 3) People show off their [...]
Is Glencore a closed shop?
This won’t apply if you’re Tony Haywood, but if you’re a mere mortal, maybe Glencore’s a little bit difficult to get into. When Glencore issued details of its flotation today, it also revealed that: Glencore senior management has more than 200 years aggregate experience working together, yet an average age of just 46. Combined with [...]
REVIEW MY CV: I’m a trader’s assistant, but I want to be a junior fund manager
Right now, I’m a trader’s assistant. I’ve completed levels 1 and 2 of the CFA., I’ve completed an IMC and I want to move into fund management. Can anyone help me, please? – CFA: Completed & Pass Level 1 (2009) and Level 2 (2010); Candidate for Level 3 – Investment Management Certificate (IMC) – M. [...]
REVIEW MY CV: I’ve got an IMC and I’m studying the CFA and I’d like to be a portfolio manager
In an ideal world I would like to move into portfolio management but I am aware that my lack of hands on experience in that area would count against me. I guess this could also make it difficult for me to move into an analyst position. Therefore I am fairly open as to the role [...]
Two pieces of scaremongering about bonuses? One piece of good news about deferrals
Today, there is good news and bad news. Fortunately, the bad news looks a little overdone. The bad news is, that according to Robert Peston and the BBC, banks are ‘secretly’ chatting to each other about a mutual reduction of the bonus pool. Peston quotes a participant in these secret chats who says they’d like [...]
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