US
Sector: Asset Management, investment banking,
Asset Managers Facing Baby Boomer Buzzkill
Baby boomers are not the greatest generation – that’s according to both Tom Brokaw and the asset management industry, which may soon see its growth marginalized by retirees pulling their savings. The report, authored by management consultancy Casey Quirk, paints a divergent picture of the asset management industry. Fund managers will generate a collective $500 billion […]
Why You Should Not Take a Counteroffer
Layoffs may dominate the headlines in financial services, but beneath the job losses another phenomenon has developed: More firms are making counteroffers to keep star players. It’s no picnic trying to replace big revenue generators, says Neil Owen, global practice director with Robert Half Financial Services, so counteroffers have become the norm at banks and […]
Ariel’s John Rogers Talks Diversity on Wall Street and Beating Michael Jordan One-on-One
“The state of diversity in the finance industry is appalling,” said John Rogers, founder and chief executive of Chicago-based Ariel Investments, one of the nation’s largest minority-run mutual fund firms. “Ninety-nine percent of leaders talk a big game (about promoting diversity), but in places like Chicago, we have gone backwards. We’re just not fighting hard […]
Twenty Financial Services Firms That Will be Hiring in 2013
It’s been a turbulent year in finance, with layoffs, scandals and depressing balance sheets making most of the headlines. Large banks have cut tens of thousands of employees, hedge funds are closing on a daily basis and compensation is being cut across the board. Still, some finance firms are fighting through the regulatory red tape […]
What Credit Downgrade? Cantor Says It Will Keep Hiring
At a time when other banks are slashing costs and cutting staff, Cantor Fitzgerald is shrugging off questions about its financial health and says it will continue expanding. The New York investment firm earlier this month said it planned to buy Irish stockbroker Dolmen Stockbrokers for an undisclosed sum as well as hire at least […]
Morning Coffee: Are Hedge Funds Becoming Endangered?
If it seems like a hedge fund closes every day, they don’t. They’re actually closing at a much faster rate than that. More than 400 individual hedge funds were shuttered during the first half of 2012, a 14% increase from a year earlier, according to Hedge Fund Research. Several big names have closed recently. Three […]
Morning Coffee: Citi’s Corbat Speaks Softly, But Swings a Mighty Sword
When Michael Corbat was named chief executive at Citigroup, the writing was on wall. Cost-cutting was inevitable, and everyone knew it. But few imagined his blade was this sharp. Citigroup will slash more than 11,000 jobs, including almost 2,000 in its institutional clients group, made up of trading, transaction services and bloated investment banking units. […]
Morning Coffee: Leveling the Playing Field Could Mean Fewer Jobs
Sorry foreign banks; the loophole is soon to be closed. The Federal Reserve is prepping a set of strict new regulations that will force foreign banks operating in the U.S. to hold more capital within their subsidiaries. The move is aimed at limiting risk, but it could force firms like Deutsche Bank and Barclays to […]
Goldman Sachs is expanding its asset management division. Why might you want to work there?
Asset management is now more of a big deal at Goldman Sachs. As most investment banks look to scale back headcount, Goldman is expanding its investment management division. Would you really want to work there? Goldman Sachs Asset Management’s (GSAM) expansion program is not a new development. A spokesperson for the bank tells us that […]
Weekly Minute: Brevan Howard Hiring, Senior Researchers In Demand
Here are the main job opportunities from last week Tip: Brevan Howard Hiring Traders European macro hedge fund Brevan Howard is actively hiring traders in its New York office as the firm rebuilds its U.S. operations. The unit has grown from two employees to 16 since June, with several big names making the jump. Tools […]
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