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Ex-Lehman bankers resort to accounting

Lehman CVs are trickling down into the Big Four accountancy firms and beyond. An ACA at a top 10 audit organisation says his team has been hit with various Lehman applications, not all of which have been viewed particularly favourably. “You have to wonder how they’d cope with the cultural differences,” he says.

Deloitte seems more receptive to Lehman talent. “We’ve picked up a number of really good people from Lehman’s,” says HR director Stevan Rolls. “We’re also getting some interest from people who were on Lehman’s graduate scheme.”

Amanda Coughlin, head of recruitment at KPMG, says they saw some Lehman CVs in the weeks after the bank went under. And Brendan Collins, head of HR at Mazars, says they haven’t received any Lehman CVs but there’s still time to send them in.

Accountancy firms’ hiring has definitely slowed, but it hasn’t stopped. Rolls says Deloitte is being “more cautious” but is still recruiting across the board, and that ex-bankers could slot themselves into corporate finance, financial consulting or financial services advisory groups.

Collins says Mazars has around 30 positions open nationally and is looking for actuaries, tax advisors, transaction services (AKA due diligence) people and ACAs who can work with financial clients.

Coughlin says KPMG is looking for people for its “advisory function”.

Comments (19)

  1. What’s so wrong with accounting?

  2. It’s boring and not really lucrative.

  3. It’s boring.

  4. Same could be said for banking now

    Arnold Schwarz Reply
  5. Lehman Lehman Lehman – the non-stop speal about Lehmans and its ex-bankers is beginning to be THE most boring thing in the world of banking right now…

  6. Accountancy, the profession for people who have failed in life. I couldn’t think of anything worse. Full of people with ABB at A-Level who weren’t good enough to get into front-office banking.

  7. I qualified as an ACA with one of the big four around 10 years back, my gardening leave is coming to an end and as i have had no luck finding anyhting (not surprising given my ABS background) thought it was a good idea to go back to my routes to retrain as an financial services tax expert (sit a few exams if needed) or in their Corporate Finance department.

    Having gone for the first interview i left realising why i ran screaming away as soon as i qualified, boring individuals, no evidence of any commercial ideas, trying to look cool with casual dress down only to look like a bunch of drunken bums on the last tube train on a Friday night, hot desking so people end up working in the toilets on the loo seats, partners who look like they should be pulling their pensions, rows of files gathering dust, dry boring individuals with their heads stuck in books & files with not the slightest clue about how to make money in the real world.

    Although i have been invited back for a second interview i think i will rather stay in bed (not least because the pay is not enough to get out for) and interview myself whilst watching ‘loose women’ as i have a better way of staying awake that way.

  8. Don’t understand the Alevel comment Henry, if you think that you only nee A levels to get a front office job in a bank you either joined 20 yrs ago or don’t work in a bank……

    Shocking I know but most front office workers are expected to have degrees!! Keep on studying, by the time you graduate things might be getting better in the job market.

  9. BB, typical profile of someone who gets into the Big-4: ABB A-Levels and subsequently a generic 2.1 degree from a sub-standard university like Sheffield, Birmingham, Manchester. Or AAA Oxbridge and the social skills of a cretin so unable to get FO and had to resort to accountancy.

    Typical profile of a front office banker: AAA, Oxbridge/LSE/(Warwick), the very creme de la creme from their peers with ambition, an excellent CV and people skills.

    The difference in quality between front office banking and Big 4 graduates is off the scale. I can’t stand sub-standard Big-4 types and their aura of inferiority.

  10. What’s so great about working in front office?
    I don’t understand why anyone would want to work 14 hours a day, 6 days a week. Regardless of how exciting or well paid you think it is.

  11. Henry, I have never heard such academic snobbery, and its people like you who only want to put people down in order to boost your flagging self-esteem.

    And clearly if you think a public schoolboy education, Oxbridge degree and being stuck up equates to a good working profile I’d rather be a cretin or generic ABB student.

    Basically shut up.

  12. Henry – yuor immaturity and sheer lack of experience shines through again. Some people actually want to be accountants.

  13. Henry,
    you are right. and it is the same cockyness which has landed us in this problem!

  14. Watching Henry trying harder and harder to get attention is just pure entertainment!

    What a little baby! haha

    For your info, I did the LSE, banking route Henry. And you certainly belong there!

  15. “What’s so great about working in front office?
    I don’t understand why anyone would want to work 14 hours a day, 6 days a week. Regardless of how exciting or well paid you think it is.”

    If you think something is exciting, then what would be the problem in working long hours? Outside the office I take pleasure in reading financial media, finance-related books, watching the markets outside my office hours. Its not sad to have a genuine passion about something.

  16. I have it on good authority that Henry is a “headhunter” and works for a firm that often graces these boards.

  17. Its funny how bankers think they are the dogs b… You’ve gotta see these ppl at work for yourselves. Fat and ugly as hell, poor excuse for a love life, and practically begging clients for work for 15hrs a day. Its pathetic.

    I work on the PE of a rather large US HF. You’ve gotta see how some of the guys here treat bankers. If I could play back some conf calls we’ve had with MDs/VPs, you can actually hear their hearts skip beats with fear!

    Deadbeats, the whole lot of em.

  18. Henry, you are obviously a troll playing for the lulz, but to set the record straight for anyone who might read it at face value, your supposed qualification list for people in front office roles is pure garbage. This comes from someone in front office in a BB. I doubt you’ve ever met a real banker, let alone been inside a bank.

  19. Ha!
    Henry, real Bankers do not waste their time boosting their ego on this website, trying to impress students like myself

    HAHA, I’d love to know what your real background is, rather than the fantasy you have come up with online to try and impress otehrs, while slagging off other succesful people in the Big 4

    ACA is good, and so is banking
    but banking has a high firing rate, is stressful , and not for everyone
    but it pays more, so you decide which one!

    Henry dont lie Reply

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