• RT @MadameButcher: The 28 nicest fixed income traders and analysts on Wall Street Link
    eFinancialCareers Wed 18 Sep 2019 16:05

    One day, it seems, Wall Street will be full of the good guys trying to save the planet. For the moment, though, there's just a normal cross section of the good and the not so good, and the good are mostly marked by the kind of empathetic human-on-human interactions that differentiate nice people everywhere.

    If you're trying to work out who these nice guys are, research firm Greenwich Associates can point you in their direction. Greenwich just released its new list of the 'most helpful' fixed income traders and analysts on Wall Street, according to U.S. institutional investors, who were canvassed in the three months from March 2019. 

  • They're all here. Link
    eFinancialCareers Wed 18 Sep 2019 15:05

    One day, it seems, Wall Street will be full of the good guys trying to save the planet. For the moment, though, there's just a normal cross section of the good and the not so good, and the good are mostly marked by the kind of empathetic human-on-human interactions that differentiate nice people everywhere.

    If you're trying to work out who these nice guys are, research firm Greenwich Associates can point you in their direction. Greenwich just released its new list of the 'most helpful' fixed income traders and analysts on Wall Street, according to U.S. institutional investors, who were canvassed in the three months from March 2019. 

  • He's with Millennium. Link
    eFinancialCareers Wed 18 Sep 2019 14:20

    Yao-Chung King ('Yao King') is back. Six months after wisely leaving Deutsche Bank before the equities business was closed, King has turned up in New York with his own fund. 

    Named YK Asset Management, it currently seems to employ one person: Yao King. Other people will presumably be hired too. It's not clear what YK will invest in, but program trading and ETFs seem likely given King's background. YK is a 'Millennium Platform Company,' so King has been taken under the wing of hedge fund Millennium Management.  

  • A Standard Chartered Singapore head joins fintech firm that’s worth more than Goldman Sachs Link
    eFinancialCareers Wed 18 Sep 2019 12:35

    Standard Chartered’s head of sanctions compliance for ASEAN and South Asia has moved to Ant Financial. Haze Heng, who was an executive director at Stan Chart, joined the Singapore office of the world’s largest fintech firm earlier this month as head of sanctions compliance.

    Heng spent about four and a half years at Stan Chart, having started out as a senior sanctions advisor at director level, according to her LinkedIn profile. Prior to that, she worked for two years as an Asia Pacific anti-money laundering business program manager at Citi in Singapore.

  • The amoral elite are about to be squeezed out. Link
    eFinancialCareers Wed 18 Sep 2019 12:10

    If you want to save the world, your first choice of profession historically was probably not the financial services sector. Doing good deeds while selecting companies to invest in based on straight profitability doesn't exactly accord with moral prerogatives. This is why, for the most part finance has long appealed to amoral, intellectually curious, materially motivated individuals with very good exam grades. 

    This is changing. As yesterday's Goldman Sachs survey of opinions among its 2019 summer interns revealed, banking juniors (at GS at least) are environmentally aware and keen for carbon taxes to mitigate the effects of climate change. This accords with just about every survey of Gen Z and Millennial opinions ever done. It could become a problem for finance firms trying to hire people under the old amoral ethos - but that ethos is changing.

  • PE funds are the promised land. Banks are looking increasingly desolate. Link
    eFinancialCareers Wed 18 Sep 2019 10:40

    Now is not the best time in recent history to work in banking. Recent weeks have seen CEOs from Jamie Dimon to Jes Staley bemoaning the effects of low rates in the U.S. and negative rates in Europe on their balance sheets.  Last week's move by ECB head Mario Draghi to renew quantitative easing depressed the mood further. - Not that Draghi cares; he responded by simply saying banks should focus on cutting costs and digitising their businesses rather than “being angry about negative rates.”

    While banks are fretting about their futures, the big private equity funds are busy disrupting their business models and hiring their staff. Talent has always flowed from banks to funds, but in the past year it has been flowing to private capital providers and buyout behemoths like Blackstone, KKR and Apollo especially liberally.

  • What you’ll really get paid at Grab in Singapore Link
    eFinancialCareers Wed 18 Sep 2019 09:55

    Moreover, if you leave banking for Grab in Singapore, you will soon find yourself in fancier digs. Grab is moving into a new S$181m headquarters in one-north business park late next year, which will feature sky terraces and plenty of communal green spaces.

    But while Grab’s hip office and aggressive recruitment plans appear impressive, they don’t necessarily give the firm a huge advantage in a job market as fiercely competitive as Singapore’s. Google, Amazon and Facebook have all established large local operations, while banks such as DBS, Citi and JP Morgan have prioritised technology recruitment. Candidates for Grab jobs in Singapore will therefore want to know whether their salaries reflect this buoyant labour market.

    To give you a rough idea of how much you’re likely to earn as a Grab employee in Singapore, we examined the firm’s salary data on Glassdoor across six broad job functions that the website had...

  • Micromanaging a beast like Deutsche was never going to work out. Link
    eFinancialCareers Wed 18 Sep 2019 07:10

    When Garth Ritchie left Deutsche Bank at the start of the current restructuring program, Deutsche Bank CEO Christian Sewing announced that for the time being, he would assume direct responsibility for the investment banking operations himself.  Even though Sewing is a retail banker by trade, this probably seemed a good idea at the time. - If there's no incumbent head of investment banking, there's no one to object to cost cuts in the investment bank.  Two months on, it seems Sewing is having second thoughts. It turns out that if you have even the slightest tendency toward micromanagement, an investment bank the size of Deutsche’s can turn into a horrific time sink. 

    For the past two months Sewing has effectively been doing two jobs for his €3.3m salary. He's CEO of the whole bank and he's also a very vigourous CEO of the investment bank. It's all becoming too much. Bloomberg says that 49 year-old Sewing (who clearly...

  • The truth about pay for Hong Kong’s corporate bankers. Link
    eFinancialCareers Wed 18 Sep 2019 02:10

    Do you have a corporate banking relationship manager job in Hong Kong? Do you want to know how your salary and bonus stack up, to help you decide whether you might be better off at another firm?

    We’ve averaged out Hong Kong corporate banking salary surveys from four recruitment agencies to produce the table below, which shows average annual base pay (and bonus percentages) from analyst to director level. We excluded low-range pay, so the numbers don't reflect the salaries of RMs who are underperforming.

  • RT @MadameButcher: Goldman interns: woke, liberal, living off their parents. Link
    eFinancialCareers Tue 17 Sep 2019 22:35

    Do you have the right mindset to be an intern at Goldman Sachs? As someone who worked (full-time) at Goldman for a few years noted here earlier today, getting ahead at ‘the firm’ is about more than just scoring top grades in exams. You also need to be the right kind of person, and this year’s barometer of Goldman interns’ opinions suggests the kind of person that is.

    Goldman interns are a curious combination of socially conservative and issues-alert. 97% think they’re going to own a house and 92% think they’re going to have a family. But 83% want a carbon tax to tackle climate change. And 85% want to legalize cannabis for recreational use and 48% (59% in the U.S.) think it should be legalized for recreational use as well. 72% (76% in EMEA) think there should be another Brexit referendum in the U.K.

  • RT @data_nerd: "Some of the most frustrating people I've worked with have PhDs" Hear Hear| eFinancialCareers Link
    eFinancialCareers Tue 17 Sep 2019 19:04

    Do you really need a PhD to take a data science role in finance? Mark Ainsworth, head of data insights at U.K. investment management firm Schroders, suggests you probably don't. While having a PhD might help, Ainsworth says it can also be a significant barrier to success. 

    "Some of the most frustrating colleagues I've worked with have been people who've come out of a PhD [course]," said Ainsworth, speaking at this week's AI and Data Science in Trading Conference in London.

  • Beware the data swamp. Link
    eFinancialCareers Tue 17 Sep 2019 15:14

    If you work for an investment bank and you want to see your colleagues in quant jobs bristle with barely controlled exasperation, it turns out there are easy buttons to push. You just need to give them a complex task and ill-equip them for solving it. 

    So said Daniel Rosengarten, head of asset liability management (ALM) quantitative development at Barclays, speaking at this week's conference on AI and data science in trading in London. "If you want to see a quant go crazy, give them a large amount of data, and Excel to work with it," said Rosengarten.

  • Deutsche's equities professionals are sticking together. Link
    eFinancialCareers Tue 17 Sep 2019 13:34

    Two months on from Deutsche Bank’s harsh (but understandable) decision that its equities business sales and trading business wasn’t worth bothering with, several of its former NY equities employees have joined Wells Fargo Securities.

    WF’s biggest ex-DB catch is David Murphy, Deutsche’s former co-head of U.S. equity sales and trading. Murphy quietly joined Wells’ Boston office in July, according to his LinkedIn profile.

  • RT @tommykwela: Must read. Link
    eFinancialCareers Tue 17 Sep 2019 12:44

    You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

  • Goldman is different, in a good way. Link
    eFinancialCareers Tue 17 Sep 2019 11:59

    Last week, Goldman Sachs launched a new employer branding program to rebuff the perception that it's an 'elitist and cutthroat' place to work. As someone who spent several years working for the firm I can confirm that this is absolutely the case. 

    When I began working for Goldman Sachs a few years ago, I was surprised by what I found there. Like most people, I had the impression the firm was razor sharp, highly competitive and genteelly aggressive. Turns out I was very wrong.

  • The Hong Kong banking jobs with the biggest pay rises for the rest of 2019 Link
    eFinancialCareers Tue 17 Sep 2019 11:14

    It’s nearly the fourth quarter – traditionally a comparatively quiet period for hiring in Hong Kong as banks tighten headcount budgets while they plan for next year. But despite the seasonal slowdown and other headwinds (including civil unrest in Hong Kong and falling growth on the mainland), banks are still ramping up recruitment in certain job functions – and paying top dollar to poach candidates from competitors.

    What are the Hong Kong banking jobs with the best pay rises? Recruiters in the city say a salary increment of 15% or more is on the generous side if you’re moving to a new bank – 10% is the norm in the current market. Here’s a non-exhaustive selection of some of the roles where you’ll get at least 15% (probably more) if you change employers.

  • The curious disappearance of Barclays' digital talent. Link
    eFinancialCareers Tue 17 Sep 2019 11:04

    Barclays has done it again. Four months after parting company with Brett Tejpaul, the former head of digital and client strategy for its markets division, it's said goodbye to a New York-based managing director (MD) who was leading the digital transformation of its markets business. 

    Greg Lee, a managing director in digital strategy at Barclays' investment bank, left this month, according to his LinkedIn profile. Lee occupied the digital strategy role for 14 months after moving from Barclays' Hong Kong office to New York as an MD in markets product in 2016.

  • The company was formed this month. Link
    eFinancialCareers Tue 17 Sep 2019 09:34

    A managing director who left Goldman Sachs earlier this year has reappeared with a new artificial intelligence (AI)-powered trading company. And he's looking for recruits. 

    Enrico Ottavian spent over 11 years at Goldman Sachs, where he was made MD in 2013 and was most recently head of EMEA and US interest rate product structuring. Ottavian resigned from Goldman in April 2019. As of last month he's launched Deep Grey Research, a London-based trading and technology company which applies AI to finance.

  • Keeping it in the family. Link
    eFinancialCareers Tue 17 Sep 2019 06:49

    “Nominative determinism” is the theory that, at a greater rate than can be explained by pure chance, people seem to end up in jobs which are somehow appropriate to their names, like dentists called Dennis or the British jurist Lord Chief Justice Judge. In finance, Barclays used to have the finest examples when Bob Diamond’s top management team included Rich Ricci and Jerry Del Missier (“Missier” means “Miser” in French).  But that title might have been taken, as we can see from this interview with senior board members Eric Syz and Suzanne Syz, as they discuss the careers of two of the divisional heads at their workplace, Marc Syz and Nicolas Syz.  As if it wasn’t enough of a coincidence to have four people with the same surname working together, their employer is called ... Banque Syz!  What are the chances?

    A joke, of course; Banque Syz is a Swiss family business.  Eric is the founder (strictly speaking, one of the three founders,...

  • How Macquarie is powering entrepreneurial spirit through infrastructure transactions Link
    eFinancialCareers Tue 17 Sep 2019 03:08

    Working on projects that bring renewable energy to our cities and communities, Jackie Funder's work in Macquarie Capital's infrastructure advisory team brings out her inner entrepreneur and allows her to seek out new investment opportunities.

    Jackie Funder loves being able to work on projects that will power our cities of the future. With a remit to seek out investment opportunities in renewable energy, the projects she works on drive positive impacts within communities in Australia.

  • Here’s how much you’d be paid at Bank of America Merrill Lynch in Singapore. Link
    eFinancialCareers Tue 17 Sep 2019 00:08

    If you want to join a (comparatively) stable investment bank in Singapore right now, Bank of America Merrill Lynch might well be on your radar. While firms such as Deutsche Bank, HSBC and Societe Generale have announced front-office Asian layoffs this year, BAML has generally held back. The bank has also reshuffled its senior leadership in Asia. In July, it appointed Peter Guenthardt, previously country executive for Singapore and Southeast Asia, as co-head of Asia Pacific investment banking, working alongside Alex To.

    Although the US firm doesn’t feature highly in individual M&A, ECM or DCM league tables in Asia, it does place a fairly respectable eighth for overall APAC (international and ex-Japan) IB revenue for the first half of 2019, according to Dealogic. Meanwhile, 2018 Asian revenue before expenses at BAML increased 28% to $865m year-on-year, according to the bank’s annual report (its quarterly results don’t break out...

  • RT @MadameButcher: "Some of the most frustrating people I've worked with have PhDs" Link
    eFinancialCareers Mon 16 Sep 2019 18:13

    Do you really need a PhD to take a data science role in finance? Mark Ainsworth, head of data insights at U.K. investment management firm Schroders, suggests you probably don't. While having a PhD might help, Ainsworth says it can also be a significant barrier to success. 

    "Some of the most frustrating colleagues I've worked with have been people who've come out of a PhD [course]," said Ainsworth, speaking at this week's AI and Data Science in Trading Conference in London.

  • RT @tradewithauquan: Marcos Lopez de Prado, former head of machine learning at AQR Capital predicts that the nature of quantitative researc…
    eFinancialCareers Mon 16 Sep 2019 18:13
  • RT @MadameButcher: BNP Paribas is said to have moved some more people out of London because of Brexit Link
    eFinancialCareers Mon 16 Sep 2019 13:38

    Irrespective of whether Brexit happens or not, banks are still making preparations for its eventuality. Sources say BNP Paribas has moved new teams out of London to Paris and Frankfurt in recent weeks.

    BNP didn't respond to a request to comment on its Brexit strategy, but the French bank is understood to have moved both corporate salespeople and several members of its exotic rates trading desk out of London. The moves follow a spurious rumour several weeks ago that the French bank had moved a large derivatives trading book to Paris.

  • RT @MadameButcher: How Bank of America quietly rebuilt its US M&A business Link
    eFinancialCareers Mon 16 Sep 2019 13:38

    Twelve months can be a long time in M&A. Around a year ago, Christian Meissner left Bank of America, where he was head of the corporate and investment bank. Almost ever since he left, BofA has been busy hiring. 

    Since the start of 2019, Bank of America has hired 50 bankers worldwide to boost its coverage, and the majority of its recruitment dollars have been spent in the U.S.. The bank has built out its senior ranks, hiring the likes Gregg Polle from Moelis & Co as a vice chairman in M&A, Rick Sherlund from Perella Weinberg in technology, Janis Vitols from Barclays as head of global asset management investment banking, or Amy Lissauer from Evercore as global head of activism and raid defense.

S&P500
VIX
Eurostoxx50
FTSE100
Nikkei 225
TNX (UST10y)
EURUSD
GBPUSD
USDJPY
BTCUSD
Gold spot
Brent
Copper
Last update . Delayed by 15 mins. Prices from Yahoo!

  • Top 50 publishers (last 24 hours)