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This is how much you should have been earning as an MD in credit and high yield trading in EMEA, Asia, the US and Brazil in 2011
International financial services search firm, Options Group, has disclosed some data points from its new and comprehensive compensation report for 2011. Here’s what they say you should be anticipating, in total comp as an MD in credit and high yield trading this year. Total compensation forecast, MD, credit and high yield trading US: $1.75m-$2.5m EMEA: [...]
Bank of America’s deferred bonuses from 2010 are now worth nearly nothing
In 2010, Thomas Montag, head of global banking and markets at Bank of America, was riding high. He exercised some of his options in his employer, and realised a pleasant gain of $11.5m. This year, Montag is riding a pygmy goat. BofA’s proxy statement shows that Montag’s target earnings from 2010 stock awards were supposed to reach [...]
GUEST COMMENT: The best bond traders don’t always accept what they’re given
Bond traders are overwhelmed with data, as anyone having access to a Bloomberg terminal knows. The challenge is to identify the numbers that are useful to make a buy, hold, or sell decision. I define information to be the subset of data that has utility in decision-making. The task then is to distinguish between what [...]
GUEST COMMENT: On the first day of my new job, I was informed a better candidate had replaced me
This site recently published an article about how to leave your job properly. Sometimes, however, when you leave is not in your control. I was recently laid off due to a downsizing exercise at a bank. But in reality, my job was eliminated before I even started two years ago. On my first day, I [...]
Standard Bank loses head of African expansion
After twenty years working for Standard Bank but less than three months into his new job as group head of strategic expansion, Rob Leith has abruptly left Africa’s biggest bank by assets to join Russia’s Troika Dialog as its new head of investment banking and global markets. The move came as an unexpected blow for [...]
If you aspire to work in the leading global financial centre for your area of business, you need to read this
The World Economic Forum has got a big study out today. The headline finding has understandably caught the headlines: Hong Kong has overtaken the US and the UK to become the world’s most developed market for the first time. Last year, the UK ranked 2nd; now it ranks 3rd, preceded by the US and Hong Kong. [...]
These are the banks you want to work for in equities and FX during periods of intense volatility
Unfortunately, 2012 is likely to prove volatile. At least, 96% of fund managers think so. In the event of continued volatility, financial services market intelligence firm Tricumen, has come up with some helpful suggestions of the best banks to work for and the banks to avoid. Equities Avoid: Derivatives houses (BNP Paribas. SocGen and BarCap) [...]
The seemingly outrageous pre- Christmas email allegedly sent by Bank of America Merrill Lynch to its contractors in London
We are in receipt of an email allegedly sent by BAML to its contract and temporary staff. The communication is produced in its entirety below. Two questions spring to mind: - Is this normal? - Is this legal? The email is below. We have bolded sections as appropriate. Jane Mann, head of employment law at law [...]
Crédit Agricole closes South African IB unit, 48 jobs lost
If there were any doubts about the impact that the eurozone crisis is having much further afield, the sudden decision by Crédit Agricole to close its investment banking business in South Africa will serve as a sharp reminder. The Johannesburg-based unit, which has been open for sixty years and employs fifty people, is being sacrificed [...]
This is how much you should be earning as an MD in equity research in EMEA, Asia, the US and Brazil in 2011
International financial services search firm, Options Group, has disclosed some data points from its new and very comprehensive compensation report for 2011. Here’s what they say you should be anticipating, in total comp as an MD in equity research this year. Total compensation forecast, MD, equity research, 2011 US: $750k-$1.0m EMEA: $785-$1.2m Asia-Pac: $1.0-$1.2m LatAm: [...]
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