Students appear to find Goldman Sachs a more appealing employer than Morgan Stanley. Last November, Goldman Sachs CEO Lloyd Blankfein said the bank received 300,000 student applications and that 90% of those to whom it made offers accepted. Last week, Morgan Stanley CEO James Gorman said plenty of people still want to work at Morgan Stanley and percentage of people accepting its offers was betwee 70-84%. Are people therefore passing on Morgan Stanley if they have an offer from Goldman Sachs?
Gorman also underscored the professionalism of students who would be investment bankers, saying they approach him in suits and hand out business cards.
The hedge fund manager who flyered cars
Separately, Financial News has an interesting tale from 32-year old Simon Hall of Duet Commodity Fund, who got his break in finance by placing his CV on car windscreens. The paper writes:
‘At the age of 16, Hall flyered cars in Billericay,Essex, with his CV. By chance, a copy reached Stephen Gaterell, then a director at futures exchange Liffe, who got Hall work experience at Liffe and became his mentor. After university, Hall became a global macro proprietary trader at Deutsche Bank and then joined Credit Suisse-Glencore as head of distillates trading.’