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Renaissance Capital on a hiring spree in Africa
It is a riches to rags to riches story: just over a year after being seriously hit by the financial crisis and having to lay off 40% of its staff, Renaissance Capital (RenCap) is betting on growth and ready to go on a hiring spree. The Moscow-based investment bank is recruiting people in Russia and [...]
GUEST COMMENT: How to get back into banking if you’re older than 40
According to the most reports, at least until the car crash of the PBR was announced, hiring is expected to boom in 1Q10 with the prospect of many larger firms rebuilding teams decimated early on in the recession. Assuming this is not now a pipe dream, how do you make sure you’re one of the [...]
Nigeria: the new battleground for SA banks
South Africa’s “big four” banks, relatively unscathed by the financial crisis and eager to enter new markets, are keen to expand in other African countries. None at the moment is more attractive than Nigeria, where analysts expect rapid growth in retail banking as well as opportunities in corporate banking. The sector is in the midst [...]
Banks you may now wish to avoid (improved and updated)
JP Morgan analyst Kian Abouhossein has produced some interesting research on the banks that will be most heavily impacted by the ‘Volcker Rule.’ This is the same Abouhossein who produced something back in September on the likely impact of proposed regulatory changes on various banks. We published the findings of his original research at the [...]
RIP banks’ hedge funds, banks’ private equity teams, banks’ (pure) prop traders
It’s been a monumental afternoon. Goldman’s negative Q4 compensation accrual was a mere tadpole to Obama’s whale. Something not dissimilar to the resurrection of Glass Steagall is implied by Obama’s intention to… …work with Congress to ensure that no bank or financial institution that contains a bank will own, invest in or sponsor a hedge [...]
“Recruitment drive underway” at Standard Bank
Standard Bank has big plans for 2010. Africa’s biggest bank by assets is seeking to grow its corporate and investment bank in Africa and globally and to become an emerging markets leader. As Kennedy Bungane, new CIB chief executive in SA, puts it, after a year “focused on improving liquidity, preserving capital and managing risk, [...]
THE OUTSIDER: What to do when your bonus is disappointingly small
Tell me it’s a nightmare and that I’m going to wake up soon. This could well be the year when despite brilliant results, nobody gets well paid. Surely not. It seems so unfair. In markets awash with excess liquidity pumped in by those kind fellows from the central banks, and the awfully accommodating taxpayers who [...]
THE VETERAN: How to make it to MD (part II)
This is a continuation of my earlier article on how to make it to the top of the tree in an investment bank. As I stated previously, making MD is an art, not a science. But there are some things that will help you along the way. Are you in an MD seat? If you [...]
South Africa: what will be hot in 2010
There is no other show in town: for South Africa 2010 is the year of the Football World Cup, the first time it is being hosted by an African country in this football-mad Continent. Expectations are extremely high and go well beyond sport. Everyone, from Government to ordinary people, from businessmen to bankers, expect the [...]
GUEST COMMENT: How to explain a gap in your CV
The City is picking up, which is good news for those of us who are currently enjoying an extended period of leisure time (especially as the weather is turning and we’ll need somewhere warm to go during the day). The downside is, of course, the need to explain that redundancy shaped hole in your CV. [...]
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