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Look to old firms for new jobs in wake of electronic trading slowdown
The electronic trading market making phenomenon may not be able to withstand too many more punches and the firms that once paid handsomely for top talent are now struggling to hang onto dwindling market share. But new opportunities are on the horizon, including slapping a hefty price tag on access to market moving data minutes […]
Deloitte’s FSA Ban Leaves Unit Vulnerable to Talent Poaching
In an industry-altering move, state authorities have banned Deloitte’s financial-advisory services unit from working for select New York state financial institutions for a full year following its botched investigation into Standard Chartered’s money-laundering protections. The move is a landmark victory for prosecutors who have long maligned the consulting industry’s cushy relationship with the very banks they’re […]
Ladies: Your Rock May Be Sinking Your Career on Wall Street
Billionaire hedge-fund manager Paul Tudor Jones found himself with his foot squarely in his mouth last month when he called motherhood a career “killer” for macro traders, noting, rather graphically, that “as soon as that baby’s lips touched that girl’s bosom, forget it.” Sadly, Jones doesn’t appear alone in his thinking; some Wall Street bosses […]
Five tips for winning a new job after you’ve been fired
Half of my two-decades-plus career has involved managing people in some capacity, and one of the most grueling and important tasks has been recruiting the best reporters and editorial staff. While jobs in editorial pay a fraction of what people expect to earn in finance, they are equally coveted by those who want to report, […]
Is the Fed Driving Veteran Money Managers into Retirement?
The number of hedge funds that closed their doors increased for the third straight year in 2012. Same song, different tune this year. It seems a different big-name fund closes each day, with clients redeeming billions from once high-profile money managers who just can’t seem to beat the S&P. There are plenty of valid reasons […]
Nomura is Growing Fast, But Are the Hires Here to Stay?
Nomura, perhaps more than any other global bank, has a habit of entering new markets with aggression, hiring in droves where it see opportunities. That’s happening right now in the U.S., where the Japanese bank is poaching high-priced talent from bigger U.S. players in sectors like investment banking and fixed income, despite its pledge to […]
Brokerage Firm Eyeing Redundant Bankers in Hiring Push
If you’re a laid off banker, know the name Makor Capital. The independent brokerage group, founded two years ago by former Cantor Fitzgerald executives, is planning a big hiring spree. Makor has also signaled that you don’t necessarily need to be employed to be considered. Makor told Financial News that it plans to make roughly […]
Wrench Dangling Above Goldman’s Succession Plan
Goldman Sachs Chief Executive Lloyd Blankfein seems more chipper than he’s been in years. Scandals have subsided, the challenge to his chairman role died quietly and the business is returning to health, particularly when compared to the plight of other financial firms. Judging by all the signs, Blankfein is going nowhere anytime soon, and that’s […]
Is Another Dr. Doom Lurking at Pimco? Frightening Forecast Follows Losses and Outflows
Is Saumil Parikh, a portfolio manager at Pimco, making another grim prediction just to redirect blame for the bond behemoth’s bad bets? Is it another case of Bernanke bashing? If accurate, Parikh’s forecast for a greater than 60% chance of global recession within three to five years could earn him a spot in the shadow […]
How to negotiate pay like a star banker
Lloyd Blankfein may have been joking when he said he was “doing God’s work,” but he is no doubt serious when it comes to compensation. It requires more than being a “master of quip” to take home $26 million in a year from Goldman Sachs. The same skills that shape a star banker make a […]
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