Late Lunchtime Links: Here's who's hiring equity researchers, here's who's hiring securitisation professionals, and here's how banks can pay bonuses for the next 24 years

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Shaft of light through the clouds of doom

We can impart some good news for equity researchers. Even as RBS makes the first 300 redundancies in equities and ECM, somewhere has come forward and says it wants to hire. That somewhere is Berenberg, which according to Financial News, suddenly wants to recruit 30 new equity researchers in the City (taking its total from 70-100) over the next two years.

If this sounds like wonderful news, well – it probably is. But at the risk of blowing halitosis into the sweet air, it’s worth noting that Berenberg was rumoured to be making a few equity research redundancies of its own last September, with some of the axed staff said to have joined only a few months previously.

Separately, and on yet another happy note, Bloomberg reports that Credit Suisse’s former head of European asset finance has very promptly found a new job. It’s not clear whether Vaibhav Piplapure was a victim of Credit Suisse’s big securitization evisceration of 2011, but even if he wasn’t, the speed with which he has moved into a new role should prove cheering to other structured credit professionals looking for employment. Piplapure left Credit Suisse at the end of October and has joined Dublin-based Avoca Capital Holdings, as head of structured credit.

Finally, the CEBR thinks bonuses are going to fall another 25% in 2012, but Bloomberg has done some sums and points out that the money European banks are borrowing at low rates from the ECB could actually pay bonuses at 2011 levels for the next 24 years. Less promisingly, Financial News says some banks are avoiding the LTRO for fear they could be suddenly be accused of receiving state aid and obliged to adhere to bonus restrictions.


“They have got to be cutting more jobs than they say they are,” said one analyst (of BarCap). “They just have to be, it doesn’t make sense.” (Sunday Times)

Recently availed of their bonuses, BarCap bankers rushed to a hot Carvery. (The Mirror) 

There is no job cutting plan, "as such," at BarCap in 2012. (Wall Street Journal) 

1,000 job cuts coming at ANZ Bank. (Bloomberg) 

VTB has completed 80% of its senior international hiring. (Financial News) 

Otkritie Capital is opening an office in Hong Kong. (Finance Asia)  

The European Commission explicitly assumes that 90% of derivatives could disappear as a result of the implementation of the FTT in the EU. (Telegraph)

Getting young people into work using a tax on bankers' bonuses is a major priority for Labour, says Ed Miliband. (APR)  

The 50p top rate of income tax for those who earn more than £150,000 a year will have to stay until at least 2015. (Sunday Times) 

Four RBS investment bankers arrested following accusations that film finance schemes have been used for tax fraud. (Sunday Times) 

Interesting infographic predicting precisely what will happen to the stations you use during the Olympics. (GetaheadoftheGames)