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Late Lunchtime Links: Another indication that it helps to have relatives in the industry if you want to be analyst at an investment bank

Bred to be in banking?

Bred to be in banking?

Someone who used to be an analyst (at Goldman Sachs) has written a novel based loosely upon her experiences. She is cherubic-looking Cristina Alger, pictured here, cross-legged on a chair.

Now that she’s a novelist, Alger is no longer working at Goldman. However, it’s notable that when writing her opus she was able to draw not only upon her time in the bullpen, but upon her family history: her ancestors founded investment firm Fred Alger Management.

From this, we deduce that a little family involvement may be constructive when seeking a job at an investment bank. Goldman Sachs specifically has also been known to employ David Viniar’s step daughter and Lloyd Blankfein’s son(s). 

Meanwhile:

The Greek bailout is predicated upon a 1% decline in GDP in 2013. In Q4 2011 Greek GDP declined 7%. (Zerohedge) 

Christian Meissner thinks investment banking activities may migrate from Europe to Asia and that margins in banking will fall to 8-10% at ‘certain times.’ (Bloomberg)

Manvir Nijhar, co-head of European equity derivatives at Citigroup, has left the bank for no apparent reason. (Financial News) 

Bank of Ireland’s shares are 99% below their €11.74 pre-crisis peak. (Financial Times)

The taxpayer’s investment in Lloyds and RBS is currently £29.7bn underwater. (Bloomberg) 

There will be a debate about banking round the back of RBS on Thursday. (Occupy) 

Antonio Horta-Osorio got his Santander shares bought out by Lloyds. Now those Santander shares should be clawed back. (Telegraph) 

Fast food workers are less convinced of their social worth than associates in investment banks. (Economix) 

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