Global markets are in turmoil and we’re in the middle of the hiring hiatus that is the summer months. In such circumstances, you might not have thought large investment banks are recruiting, and certainly not for front office jobs.
But this perception is wrong. Despite the lull and despite new job cuts, most investment banks are still looking for front office employees. These are the roles that have been released within the last two weeks at the major investment banks.
1. Goldman Sachs is hiring a FIG associate and a derivatives analyst
Ideally, the person who can fill the analyst/associate level hire within Goldman Sachs’ financial institutions group will be able to start ‘immediately’ as part of its growing 300-strong team. This suggests that there’s a growing urgency for juniors in buoyant sectors like FIG M&A.
It’s also hiring for its securities division – again at the junior level – and is looking for an associate to join its Private Investor Products Group (PIPG), with a focus on creating OTC derivatives and structured funds. Not surprisingly, the right person needs to be quantitative and have programming skills like C# or Java.
2. Citi is hiring an associate to join its debt capital markets team and healthcare M&A
Officially part of Citi’s ‘global capital markets’ division in London, the role is focused on the creation debt-financed transactions so it shows that the bank is looking to expand its DCM team at the junior level. The deadline for applications is 15 September, suggesting a certain urgency to get the role filled.
Separately, although much of the focus on healthcare M&A recruitment has been on the U.S. market, Citi is staffing up – at least at the junior level – in London. The role is to assist ‘three senior bankers’ originate deals in the sector. Healthcare experience directly is not requested, but would obviously help.
3. UBS is hiring for a head of mid-cap equity trading
If you’re a trader with (at least) five years’ experience in pan-European equities trading and can combine that with the sort of leadership skills that “inspire others to follow our strategy and live our culture” then UBS wants to hear from you. This is one of the few senior roles out there currently, and also one of a select band of jobs for traders.
4. Morgan Stanley is hiring for its media IBD team and looking for a junior economist
Again, this is at associate level, but Morgan Stanley is looking to hire for its media and communications investment banking team. The role covers both M&A and IPO transactions, which requires a junior with a range of experience in the investment banking division.
There are a couple of big hurdles to get over if you fancy yourself for this job – firstly, you need an MBA as well as an undergraduate degree and, secondly, you need to speak Russian.
Separately, but again at associate level, Morgan Stanley is hiring a research economist for its markets division. The right person needs to be able to work autonomously and ‘question conventional wisdom’.
5. Credit Suisse is recruiting a capital goods equity researcher
In line with the mini-revival in equity research recruitment, Credit Suisse is looking to bolster its research team focused on the capital goods sector. Obviously, it’s looking for knowledge of the sector, combined with excellent written and presentation skills to communicate its message to clients. However, the right person should also have a CFA and a degree in finance or economics.
6. Deutsche Bank is looking for a distressed credit analyst
At VP level and with an element of urgency – it was posted last week and closes on 15 September – this distressed credit analyst role will be focused on emerging markets. Deutsche Bank’s markets team invests in distressed debt products and is looking for a quantitative analyst to assess the risk factors of investments and come up with recommendations.
7. Bank of America Merrill Lynch is hiring for a quantitative analyst for its FICC team
BAML is looking for a mid-ranking (VP) quant to work in its FICC emerging markets team. Not surprisingly, it’s restricted to a select few applicants capable of building complex financial models. A PhD in a quantitative subject is a prerequisite.
8. Barclays is looking for a sales analyst in its index products group
The sole role in Barclays London investment bank currently is for a sales analyst focused on its ‘Risk Analytics and Solutions Group’ or offering index-linked products to clients. The role is focused on expanding Barclays’ client base in Europe and requests both a quantitative degree and, preferably, a CFA.
9. Nomura is hiring a VP in natural resources investment banking
Nomura is looking to add to its 20-strong natural resources team with a coverage investment banker in the mid-ranks. It will be focused on metals and mining, and perhaps predictably, will require international travel.
10. RBS is looking for someone to lead its investment banking restructuring
OK, not a front office role, but worth pointing out given the scope of the role as Royal Bank of Scotland looks to drastically reduce the size of its investment bank. The job is called ‘head of services restructuring, CIB' and the right person will be called upon for the “development and delivery of our restructuring programme and be managing strategic reductions in our CIB Service Cost model”. A big job.