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Tag: Investment Banking
GUEST COMMENT: As a junior corporate financier I am spending my life tweaking PowerPoint presentations
Many young undergraduates harbour dreams of becoming an investment banker when they finish university, but few know what the job entails. Those who know the reality have probably done an internship in the sector, be it in ECM, DCM or M&A. Some of these people have continued to bite the bullet and become full-fledged analysts, [...]
GUEST COMMENT: What happens when your investment banking CV sends the wrong message
Mixed messages in CVs usually derive from the writer’s own mind set and that rule applies to investment bankers, fund managers, private bankers, traders of any age or nationality. From my City experience I find there are usually two mind sets which create mixed messages: Superhero and scarecrow. What are these and how can they be [...]
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 [...]
Morgan Stanley and Oliver Wyman have produced their annual report on the state of the investment banking industry. This is what you need to know if you want your career to last
First there was the enormous report from JPMorgan on the state of the investment banking industry. Now we have another enormous report from Morgan Stanley and Oliver Wyman, also on the state of the investment banking industry. Morgan Stanley/Oliver Wyman’s report is an update of something they produce every year (last year they gave a [...]
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 [...]
Corporate bankers are particularly popular in Africa
Standard Bank is the ‘big beast’ of African banking. Its strong presence and reach across the Continent and its access to the deep pockets of the Industrial and Commercial Bank of China (which has a 20% stake) give it the ability to invest in growth. So if Standard Bank says there is a phenomenal resurgence [...]
Business by business, this is how well each US bank has really performed when DVA is eliminated
Banks’ third quarter results are not what they seem. As the Financial News points out this morning, when the effects of DVA (debt valuation adjustment – or the gains from the reduced cost of buying back banks’ own debt) are eliminated, US banks’ ‘cumulative pre-tax profits’ disappear entirely and their revenues fall by a third. [...]
Barclays and Absa become one in Africa and say wealth is a strategic growth area
More than a shake-up, it’s a revolution. Barclays has handed over responsibility for implementing its African strategy to Absa, the South African bank it controls. From now on the two banks will operate as one unit under Maria Ramos, Absa CEO, who is also chief executive of Barclays Africa. Absa has also merged its retail [...]
There are VPs out there who are doing the job of associates
Things have definitely taken a turn for the worse in investment banking. In the third quarter, investment banking fees at JPMorgan fell to their lowest level since 2005 and dealmaking in EMEA was at its lowest since the first quarter of 2010. However, this does not mean some people are not busy. A lack of [...]
Goldman Sachs, ruler of the world, now contemplating cutting around 1,700 staff
While a random day trader/motivational speaker is going around telling the BBC that Goldman Sachs rules the world and everyone’s savings are about to disappear, Goldman Sachs is having a few other issues to deal with. The New York Times says the bank is drawing up plans for deeper cost cuts and that it will [...]
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