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A simple graph illustrating why it is that your sales or trading job will be safe at JPMorgan
It’s not that JPMorgan doesn’t make redundancies. In Q1, it let 292 people go from its investment bank. However, JPMorgan seems less prone to big headcount cuts than its rivals. Since the end of 201, it has reduced headcount at its investment bank by 607 people and steadfastly refused to announce any bigger cuts. Goldman [...]
This is what’s really behind the fuss about Pandit’s excessively generous pay
Suddenly, Vikram Pandit pay be less well off than he’d anticipated. Having had his salary increased from $1 to $1.8m on January 18th 2011, he was theoretically in line for a payment of $15m, plus multi-year incentive compensation of $40m, as detailed in the letter Citi sent to its shareholders before this year’s annual meeting. [...]
GUEST COMMENT: The parable of the Great Analyst Cull of 2002-2003
Listen carefully, for I am going to tell you a tale: the tale of the Great Analyst Cull of 2002-2003. It is a parable of brutal culling, followed by years of dry pitching, followed bounteous riches. It may offer sustenance in the horrid years ahead. For those without the folk memory of the Great Cull, [...]
The forgotten interview with the man who could get you the best job at Barclays
In the wake of the excitement about Bruno Iksil and then Achilles Macris, banks’ treasury departments are becoming the places to be if you’re a trader. Replete with ex-hedge fund professionals, seemingly immune to the Volcker Rule, and free to hedge risks and trade prop for the bank as a whole, their importance is indisputable. [...]
Forget investment banking league tables, this shows places like Goldman Sachs are doing less well than they seem
League tables for the first quarter of 2012 are out. The usual suspects are at the top of the pile: Goldman Sachs was top in completed M&A globally, JP Morgan was top in investment grade DCM underwriting, Citi led global ECM. However, charts from research firm CreditSights, reproduced below, reveal that standard league tables can be [...]
Everything you need to know about JPMorgan’s chief investment office and becoming Bruno Iksil
On the off-chance that you spent the whole of Easter holed-up in Dartmoor without internet access and have no knowledge of Bruno Iksil, let us fill you briefly in. Bruno Iksil is purportedly a 30-something French trader. He lives in Paris and commutes in and out of London each week, but spends Fridays working at [...]
Redundancies and ramping-up at Rand Merchant Bank
On one hand, First Rand is cutting jobs. On the other, it’s making redundancies. Following an interview with Alan Pullinger, CEO of Rand Merchant Bank, Bloomberg reports that the investment banking division of First Rand is considering cutting staff in order to boost its return on equity. This follows an earlier statement to the effect [...]
If you want to find a job in South Africa, become an actuary
In these uncertain economic times, young people with their feet on the ground want to know what studies will deliver a job for them. South Africa, like the UK, currently has record youth unemployment but also an acute shortage of skills in a few key areas. There are jobs out there – 830,000 unfilled skilled [...]
Having reputedly cut compensation for its VPs, Goldman has reputedly increased holidays for its associates. Is this a sign?
First the longer holidays. Next the lower pay. Fresh from reputedly reducing salaries for its VPs in London, Goldman is said to be offering its associates an entire month off before they become VPs. It’s also offering them a week of, ‘protected vacation,’ during which time it will be mandatory for them to ignore telephone calls [...]
Q&A: JPMorgan’s head of global alumni relations explains why JPMorgan would like to hire its alums, or people recommended by them
Having visited JPMorgan’s website and observed the prominence being given to its alumni portal, we asked Catherine Coluzzi, executive director and head of global alumni relations at the bank whether it’s got a renewed push to hire alums. This is what she told us: Q: We noticed JPMorgan is giving a lot of prominence to its [...]
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