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Uproar at Deutsche Bank as brutal bonus reality revealed and VPs left...
Remember Christian Bittar? He was the Deutsche Bank proprietary trader who, in 2008 alone, was due a bonus of $53m for his work and who allegedly earned $100m+ over the decade he toiled at the bank. If...
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Come up with the perfect murder. And other methods for impressing Guy Hands
If you want to impress Guy Hands, the founder and chairman of private equity firm Terra Firma, don’t mention your academic prowess. Hands, who has severe dyslexia and dyspraxia and “couldn’t copy from...
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Andrea Orcel nailed the UK government’s hubris on Brexit
The British government thinks banks are exaggerating about Brexit. We know this from Brexit Minister David Davis, who reportedly said before Christmas that banks need to “move on” from the referendum...
View ArticleSo, Goldman Sachs actually had a terrible 2016, except here
If you thought Goldman Sachs was the ‘best investment bank in the world’, you could be wrong. In league table terms it’s long be roundly trumped by J.P. Morgan in most businesses. And last year, it...
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Morning Coffee: Goldman Sachs’ Brexit contingency plan shows what’s being...
If the City of London is dismantled as the result of a nasty Brexit settlement, it won’t magically reappear elsewhere. Things that currently happen in the City will be dispersed across Europe and the...
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Banks’ latest Brexit comments suggest 22% of London jobs to go
What proportion of London banking jobs are at risk from Brexit? Handlesblatt claims 50% of Goldman Sachs’ 6,000 London banking jobs could migrate, but Goldman is denying this. Overall banks’ stated...
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Deutsche Bank has just made a major new hire from J.P. Morgan
Deutsche Bank may be slashing bonuses, it may be cutting 20% of underperformers in its investment bank and it still has a hiring freeze in place. And yet, for the right role it’s still signing off on...
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Another swathe of senior equities professionals have been made redundant
2017 isn’t starting well for equities sales and trading professionals. First Morgan Stanley trimmed directors in its equities team, then HSBC did. Now, it seems Panmure Gordon is doing the same....
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20-something professor on how machine learning is going to change finance
Xi Chen, who got his Ph.D. in machine learning from Carnegie Mellon University’s School of Computer Science, is an assistant professor of information, operations and management sciences at New York...
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Why Deutsche Bank is still firing and Barclays is done
It seems Deutsche Bank’s banking analysts were onto something. Earlier this month, they suggested that things were looking up for Barclays. As if on cue, Barclays CEO Jes Staley today told reporters at...
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Morning Coffee: U.S. investment banks are increasing their dominance. Hedge...
Even before Trump comes in, U.S investment banks have reasons to be happy. Even before they reported sizeable gains in the fourth quarter, Wall Street’s biggest banks had widened their lead over...
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Brevan Howard portfolio manager moves to senior role at RBS
In perfect finance ‘career arc’ terms, moving to a big portfolio management job in a hedge fund after years as a sell-side trader is a one-way ticket. However, Mark Deniston, who left his job as head...
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The temporary upside of working for Credit Suisse on Wall Street
Bonuses could be ok at Credit Suisse this year. Even though average compensation per head fell 3% on an accrued basis in the first nine months of 2016 compared to 2015, CEO Tidjane said at Davos that...
View ArticleWhy we quit our banking and hedge fund jobs to launch the Tinder of networking
Junior employees in investment banking are increasingly questioning whether the long hours and high pressure of the job are really worth it, or if it’s better to dedicate their energy elsewhere. For...
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What Goldman Sachs and Morgan Stanley fear from Trump
Donald Trump, the 45th president of the United States, will be great for banks. Won’t he? After all, there’s no shortage of former (Goldman Sachs) bankers on his team, and the volatility surrounding...
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10 reasons banking jobs might not be so great after all
Everyone knows that banking jobs aren’t as special as they used to be. The pay is lower. The job security still isn’t the best. Banking simply isn’t the ‘sexy’ and prestigious career choice it was ten...
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Morning Coffee: Thrusting Goldman Sachs banker ruins chilled HSBC party. Jes...
Things used to be quite relaxed over at HSBC. The British bank had a reputation for offering jobs for life, with palatable working hours and jovial colleagues. Until a man schooled in the ways of...
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Deutsche Bank has just brought in another CIO as it continues tech...
John Cryan has told Deutsche Bank employees that they need to think like a tech firm if they want to keep their jobs, but when it comes to new hires at the bank, technology is one division that...
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A senior Citi trader just turned up at this ex-colleague’s hedge fund
If you’re a senior trader in an investment bank and you want to move to a hedge fund now, your best bet is not to start a hedge fund yourself but to move to a fund founded by a former colleague that’s...
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Quants vs. traders: Who is winning?
I was introduced to this perennial argument of traders versus quants the first time I walked onto the trading floor – this was back in 2005 on a tour for interns joining the summer program at UBS. I...
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