County Coffee Financial News
08.11 / 11:39
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Citadel Securities picks up BNP trader to head its sterling team
Citadel Securities, Ken Griffin’s market maker and trading firm that likes to hire from Goldman Sachs and pays interns $52k for a summer internship, has expanded its team in London – courtesy of Europe’s most ambitious investment bank, BNP Paribas.
08.11 / 11:39
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"Banks spent millions implementing the bonus cap. They're not about to reverse it"
In these dark days for investment bank recruitment, when not much is occurring and the bedding down of Credit Suisse stragglers is the main event, there might be a glimmer of hope for London recruiters in 2024. — The bonus cap and its elimination. Many banks in London are now free to pay bigger bonuses and lower salaries for the first time in eight years. Does this mean they'll hire new senior people next year, simply in order to re-rate compensation away from high fixed costs and towards flexible bonuses instead?
08.11 / 11:39
Citi
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2020
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Morning Coffee: The other woman striking fear into thousands at Citigroup. When people are too paranoid to leave
If you work for Citi now, there are two women who might fill you with apprehension. One is Jane Fraser, the CEO who is on a mission to extract layers of management, do away with pointless meetings and cut jobs, the other is Titi Cole, who is the person tasked with executing Fraser’s intentions.
08.11 / 11:39
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Morning Coffee: Goldman Sachs' new 30 year-old managing director, and others. Mysterious exit of Morgan Stanley MD in Hong Kong
Goldman Sachs promoted some new managing directors on Friday. In a reminder that Goldman Sachs isn't just an investment bank and trading business nowadays, fewer than half (47%) of the 608 lucky new MDs work in the banking and markets business. Another 25% are Goldman's new preferred places of asset and wealth management. The remainder are dotted across Goldman's remaining divisions.
08.11 / 11:39
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UBS's $500m of Credit Suisse retention bonuses expire next year
Who received the $500m of retention bonuses that UBS paid to retain «key» Credit Suisse staff? Was it the 20 investment bankers that Financial News says UBS hired from Credit Suisse in London? Not all of them; we've spoken to MDs who didn't get them. Was it the senior technology staff who left anyway? Apparently not.
08.11 / 11:39
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Morgan Stanley's global head of internet banking disappeared
Following the abrupt departure of Henry Tsai, Morgan Stanley's head of APAC internet banking Morgan Stanley appears to have lost another even more senior banker from its internet banking team.
08.11 / 11:39
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UBS bankers' exceptional quarter amidst rampant cost-cutting
This time last year, things were not going well for UBS’s investment bankers. In the third quarter of 2022, combined M&A, ECM and DCM revenues at the bank were down 58%. There was talk about hiring some new M&Abankers as a result, particularly those “stuck in a rut” at rivals.
08.11 / 11:39
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Deutsche Bank's head of mortgage finance is quietly on his way
If you're going to leave your job in an investment bank, you will not normally do it in the depths of the year just months before bonuses are paid.
08.11 / 11:39
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"My mother was an MD in an investment bank. Her ego was massive"
My mother was a managing director at a large bank. She worked her way up from being a graduate and was consistently told that she was one of the best of her cohort.
07.11 / 07:31
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From defying market conventions to introducing cold brews in a country dominated by tea and instant coffee, here’s how Sleepy Owl concocted a charismatic entrepreneurial blend
In 2015, Ashwajeet quit his first job within three months to couchsurf with Arman, who was working in Mumbai at the time. The deal was that if the duo came up with a business idea, Arman would quit his job.
05.11 / 02:05
05.11 / 02:05
05.11 / 02:05
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Boutique bank picks up Goldman Sachs MD amidst job cuts
Boutique bank PJT Partners is well known for paying its people bucketloads of cash, and that reputation probably doesn’t hurt when it comes to hiring managing directors (MDs) from some of its much bigger rivals.
05.11 / 02:05
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Singapore fund founded by Blackstone MD hiring from Blackstone
If you’re a young Blackstoner in Singapore, you probably have a lot of opportunities to leave the firm to continue your career. One of them, newly launched, might be a better fit than others – Aquilius Investment Partners.
05.11 / 02:05
05.11 / 02:05
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As Citi cuts, one of its MDs arrived at Jane Street in New York
Citi might be in the midst of a substantial re-shuffle, involving both job cuts and senior leadership “optimization”, but that doesn’t mean some of its managing directors aren't leaving of their own accords and joiningJane Street, in the promised land of electronic trading.
05.11 / 02:05
FIVE
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BlackRock
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private credit
Private credit fund paying $713k average is hiring hundreds
For anyone who missed the memo, private credit is the place to be in 2023. Banks are rushing intoprivate credit (take Deutsche Bank, which just launched a new business in the area), funds historically focused on private equity are rushing into private credit (take Apollo, which said today that more than 80% of its assets are now in its credit and hybrid units) and private credit investors themselves are doubling down on private credit.
05.11 / 02:05
29.10 / 19:45
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Evercore bumps up pay, promises to keep hiring
Once upon a time, boutique bank Evercore paid really, really well. And then one thing led to another, Russia invaded Ukraine, and now boutique bank Evercore only pays really well. But things might have just changed.
29.10 / 19:45
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The Ted Pick guide to making CEO of Morgan Stanley
Ted Pick, the head of Morgan Stanley's investment bank, is going to become Morgan Stanley's new CEO. He found out yesterday at 5pm EST when he was walked into a room and was given a standing ovation. If you want to be like Ted, there are a few techniques you might to integrate into your self-management toolkit.
29.10 / 19:45
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Standard Chartered's Hong Kong & Singapore bankers are doing all the work
Standard Chartered’s Q3 results – which came out yesterday — revealed the numbers behind something many have seen going on for a while: two cities are subsiding the entire rest of the bank.
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