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What you need to know from Jamie Dimon’s presentation yesterday about what’s happening at JPMorgan
This week, it’s the Goldman Sachs Financial Services Conference. Vikram Pandit stood up on Tuesday and divulged Citi’s plans for an additional 4,500 redundancies. Yesterday was Jamie Dimon’s turn. Notably, Dimon didn’t disclose any additional redundancies at JPMorgan. However, he did use his presentationto make interesting statements about the structure and strategy of the bank. [...]
Tell us what you think of our new editorial site
It’s been a long time coming, but today we have a new editorial site. If you’ve accessed this article through the eFinancialCareers homepage, you may want to visit the eFinancialCareers editorial homepage in all its new glory by clicking here. There are various new features. These include: photographs; from now on, every article will have [...]
This is how much you should be earning as an MD in M&A in EMEA, Asia, the US and Brazil in 2011
International financial services search firm, Options Group, has disclosed a few data points from its new and comprehensive compensation report for 2011. We’ll be releasing them slowly over the next week. Here’s what they say you should be anticipating, in total comp as an MD in IBD this year. Total compensation forecast, MD, IBD: M&A [...]
Nigeria’s looking for a trio to lead its new Sovereign Wealth Fund
At least ten years’ experience at high level in financial services: this is what is required to apply for the three top jobs at the newly-created Nigeria Sovereign Investment Authority (NSIA). The oil-producing African state was one of only three members of Opec not to have a sovereign wealth fund – along with Ecuador and [...]
GUEST COMMENT: The only way to succeed in finance is by playing nasty office politics
If there is ever an important piece of advice that university lecturers and textbooks fail to impart to students entering the workforce, it is the fundamentals of office politics. It’s the, “who you know, not what you know,” ticket that guarantees movement up the corporate ladder. I’ve watched in amusement as co-workers, managers, and MDs [...]
Standard Chartered bets on Botswana
Standard Chartered has chosen Botswana as an important pillar of its African expansion strategy. The emerging markets specialist has just poached Moatlhodi Lekaukau, currently head of M&A at Deloitte & Touche Corporate Finance in South Africa, to be its new Chief Executive Officer for Botswana, starting in February 2012. “I am excited about the opportunities [...]
Goldman Sachs may be a 2nd tier bank, but it still has 25 applicants per role
Goldman Sachs isn’t what it was. We’ve pointed out a few times that JPMorgan appears to be a better location for traders right now. In today’s Financial News, William Wright places Goldman in a 2nd tier of banks, including BarCap and Citi, that are merely, “muddling through.” The new top tier, according to Wright, includes [...]
GUEST COMMENT: Every 10 enquiries are 1 meeting; every 1,000 contacts are 1 job offer
It’s 11am and I have already received three rejection emails. I want to crawl back in bed. But I go for a cup of coffee instead to provide some comfort. Coffee is safer than a cookie. Sleeping in this morning would only waste a few valuable hours in which I can get hold of people [...]
Some European bankers who lose their jobs may be able to get hired in Nigeria
In Europe, blood is on the floor. Virtually all the big banks have announced redundancies, as have smaller ones. But while jobs in developed markets are being chopped, jobs in emerging markets are still growing. Last week, Goldman Sachs highlighted the multiplier effect of GDP growth on its revenues, saying the average impact varies from [...]
Private equity: Europe’s loss is Africa’s gain
The sovereign debt crisis has reduced deal activity, banks provide funding reluctantly and on less favourable terms, many transaction have collapsed: in short, private equity in Europe is suffering. Deals activity fell by almost 30% in Q3 2011 and, given market turmoil and low confidence levels, this negative trend is set to continue. Europe’s loss [...]
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