ZA
Stressed out bankers are underpaid and overworked
Shrinking pay packets are the primary sources of stress in the banking sector as financial professionals face longer hours and unachievable deadlines without the prospect of a big bonus at the end of it all. An average of 68% of the 3,400 banking professionals in the UK, US, Middle East, France and Germany responding to […]
‘Tragedy of wasted minds’ as young quietly crave becoming bankers
It seemed to mark the end of an era. Last week’s research from YouGov suggesting that only 2% of British university students now want to be bankers suggested the end of youthful materialism and the start of something a whole lot more wholesome, like professional knitting. In fact, however, YouGov may have over-egged its end-of-banking […]
Aberdeen’s Martin Gilbert admires Alex Ferguson, but he’s not following in his footsteps
Martin Gilbert, CEO of Aberdeen Asset Management, has been at the helm for 27 years, so the question of his retirement is one he’s often asked. Until recently, his response was to say that he’d step down when Alex Ferguson leaves Manchester United, but he’s been quick to back-track. “It was a terrible blunder to […]
Ex-Merrill Lynch big hitter Crocker leaves Abu Dhabi Islamic Bank
Stuart Crocker, global head of private banking and wealth management at Abu Dhabi Islamic Bank and Merrill Lynch veteran, has left the bank, according to sources close to the situation. In the battle for the vast, and growing, pool of Middle Eastern wealth, regional private banks were supposed to be making a challenge to the […]
Why Jamie Dimon Shouldn’t Have Anything to Worry About, But Still Does
One of the great allures of Wall Street is that it is a bottom-line business, or at least it was. Bank share prices tended to follow book value rather hypnotically, and assessing executive performance was based almost solely on metrics. Now, with the financial collapse still fresh in the minds of investors, Wall Street has […]
Equities upset at Nomura as laid off banker gets miraculously rehired
Nomura’s equities business has not been a happy place to be. As we were first to report in March, the Japanese bank cut around 20 senior equity research staff shortly before bonuses were due to be paid. Now, it seems one of them has been reinstated. Headhunters said Nick Coulter, a food retail analyst, who […]
Twenty two people who can get you a job in banking
If you want a job in banking, you will need to network. A failure to properly engage and to direct applications to named individuals is one reason why your attempts to land a job in banking may fail. With this in mind, we’ve provided a non-comprehensive, non-alphabetical, sort of off-the-cuff list of some of the […]
CFA Institute’s six steps to fix the global financial system
How do you even begin to fix a financial crisis that cost at least US$12 trillion and wiped out 20 million jobs? This is the task that the Chartered Financial Analyst (CFA) Institute has taken on, unveiling a a six-step solution drawn up by an advisory committee under the the leadership of Professor John Kay, visiting Professor of […]
Wall Street for Dummies: Meet the Latest Must-Have Resume Stuffer
When you think of Wall Street, you probably conjure up thoughts of highly-educated, affluent bankers – money managers with MBAs, CFAs and a host of other credentials. But the truth is, only around 10% of those working at large banks are directly involved in managing securities. The other 90% work in compliance, human resources, legal, […]
FCA chief: The EU bonus cap is not a good idea. The rise of the ethical banker
The EU bonus cap will do little to rein in pay or reduce the poor behaviour of investment bankers believes Martin Wheatley, the chief executive of the newly created Financial Conduct Authority. Speaking at the London Business School Global Leadership Summit in the City today, Wheatley said that capping banker bonuses to 100% of salary […]
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