ZA
Company: HSBC
If you work anywhere in investment banking, you should familiarise yourself with Stuart Gulliver’s vision of the future
Today is HSBC investor day. Stuart Gulliver made a presentation. So did Sean O’Sullivan (COO) and so did Ian McKay (CFO). You may think HSBC is no massive deal in investment banking. But this would be wrong. In the first quarter, net revenues in the investment bank were $5.6bn, versus $8bn at Citi, and $4.7bn [...]
This time next week, Goldman bankers should know their numbers: the bonus calendar for 2012
This time next week, bankers at Goldman Sachs should know their bonuses for 2011. Morgan Stanley will follow shortly after. Everywhere else will come after that. Here’s the bonus announcement and payment schedule for the next few months – as we understand it (feel free to suggest amendments if you disagree). Goldman Sachs Goldman Sachs [...]
Standard Chartered is still hiring and growing in Africa
As developed markets are in the eye of the storm, it is a good time to be in emerging markets and to have “multiple growth engines”, as Peter Sands, Ceo of Standard Chartered, puts it. At least “if one or two run slow others will be running fast.” That is why analysts see the bank [...]
Weep for your 2010 bonus if you work at BAML. Rejoice if you work at RBC Capital Markets
The good news is that French banks’ share prices are rebounding this morning. The bad news is that the rebound will need to be significant to wipe out yesterday’s losses. The worse news is that, across the board, the share prices of leading investment banks are down an average of 33% last year. And that [...]
Nedbank powering ahead, still recruiting
Mike Brown has been true to his word. Earlier this year the Nedbank Ceo announced “the worst is behind is us” and pledged to move on from the shadow cast by last year’s 4.5bn takeover bid by HSBC, which suddenly pulled out of the deal without giving a reason. Now Nedbank says that first-half earnings [...]
Bank by bank hiring predictions for 2011
If you want a new front office job in investment banking in 2011, you will probably need to be patient. There are rumours of enduring hiring freezes. If last year was all about biggish expansion plans, this year is going to be all about making do with what you’ve got and hiring replacements as necessary. [...]
Huge growth for private banking in Africa
Africa’s bright growth prospects and the steady increase in the numbers of high net worth individuals in the continent are acting as a magnet to private bankers. Several Western banks are beefing up their teams to exploit these new pools of wealth, recruiting people both in their headquarters and in loco to deepen coverage and [...]
What will be hot in 2011 in South Africa?
South Africa starts the year in good shape: it has shaken off the recession after only two quarters of negative growth, the economy is well-run, interest rates are at their lowest for decades, the rand is strong and inflation low. The country is still basking in the glow of the success of the World Cup [...]
South Africa: what was hot and what was not in 2010
It was the year of the World Cup, when South Africa showed the world it could organise a successful global event, manage security, avoid the horror scenarios and confound the doom mongers. The deafening sound of the ubiquitous vuvuzelas did not drown out the sound of airplanes landing, carrying not just football fans but also [...]
Barclays Capital cuts jobs in UK but not in Africa
The City’s loss could be Africa’s gain. Barclays Capital announced this morning that it has begun a consultation process to reduce headcount in the UK, following months of slow activity and falling earnings. Analysts say revenues this year could be down a fifth on 2009 and hundreds of jobs are at risk. But the investment [...]
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