It's not always easy to find a job if you're an ex-banker who's spent several months out of the market or several years selling equities to institutional investors in the Nordic region. Fortunately, however, there is somewhere which may take you on: St. James's Place. The UK wealth management firm runs an 'Academy' which trains ex-bankers and others so that they can set up their own business under the St. James's Place umbrella and offer wealth management advice to their own client base.
The good news for anyone thinking of joining St. James's Place is that it seems to be doing very well. Bloomberg reports that net inflows to the company rose 36% in the first quarter 'as cash-rich individuals sought higher returns on their savings.' Even better, own research reveals that St. James's Place has been expanding. Between January and April 2013, St. James's Place added 128 new partners according to the Financial Services Authority register. Between April 2012 and April 2013, it added 463. If you're out of the market, you know where to look.
Sir David Walker has promised to restrain bankers' pay at Barclays. (Evening Standard)
KKR is spending 20% more on compensation than last year. (KKR)
Bank of America has hired Jim O’Neill from UKFI to head FIG banking. (Bloomberg)
Citi’s hired Christophe Laskowski as head of corporate and investment banking for Hong Kong. (WSJ)
Switzerland will expand its immigration allowance for EU workers. (WSJ)
Credit Suisse’s investment bank showed very impressive cost management, said JPMorgan. (NYTimes)
"Ignore the excruciating references to Barclays as the 'Go-To' bank - these are results of which 'Sir' Bob would be proud." (Guardian)
In 2012, Evercore’s revenue per senior banker of $9m was twice that of Greenhill. (Financial Times)
Evercore founder Roger Altman said he has seen better M&A environments, but that “we’ve seen a lot worse ones” too. (WSJ)
Lehman’s equities business helped drive success at Barclays. (Bloomberg)
How to ingratiate yourself on Facebook. (PhysOrg)