Lunchtime Links: Barclays Wealth probably still hiring people with no previous private banking experience
If you've ever fancied becoming a private banker, but have no experience at all of private banking, then fear not - Barclays Wealth may be the place for you.
Back in 2006, Barclays launched 'Embark', a programme for training many hundreds of non-private bankers in the private banking way. Although the company's website indicates that opportunities for 'new private bankers' are currently zero, a push to train up additional private bankers can be expected soon.
When Barclays announced its annual results a few weeks ago, expansion plans at Barclays Wealth took centre stage: 350m is being invested over the next two years, and the bank plans to double the number of relationship managers it employs. Today, the Financial Times reveals that most of the additional staff will come from 'in-house training programmes, as opposed to poaching staff from rivals.'
Last time we checked, Barclays Wealth was said to be keen on ex-corporate bankers, ex-army types and ex-relationship managers from other industries as private banking trainees. However, it was also incredibly fussy: fewer than 7.5% of candidates were said to make it through the final round of its interview process.
HSBC pays top banker 10m, another two 9m. (Reuters)
Dresdner Kleinwort bankers who moved to Commerz can finally cash out of €70m of restricted stock (Wealth Bulletin)
Nomura said to have three senior bankers in Moscow poached by rivals. (Bloomberg)
Martin Currie axed bonuses to save jobs, but is hiring another 19 people this year. (The Times)
A mystery banker ran up a bar bill of almost 44,000 at Mayfair club Aura. (Dealbreaker)
Senior US bankers vetoed 'socialist' attempts to cut pay across the industry at a dinner at Claridges last year. (Independent)
RBS won't tell us who these millionaires are even though they are paid with public money. We have a right to know. (Vince Cable in the Daily Mail)
Morgan Stanley traders halved the number of days they lost money in 2009, and made $25-75m most days. (Reuters)
Vikram Pandit earned $128k for 2009. (Wall Street Journal)
Prince Walid bin Talal has been nice to Vikram. (DealBook)
VTB chief executive told Gordon Brown the bonus tax is a stupid idea. (The Times)
Your résumé is not an autobiographical essay of your entire life. (NY Times)
Today having Goldman on your CV is like sticking a label on your backside reading "kick me." (The Times)
Failure to turn off your Blackberry means you are working an additional 10 days a year. (Telegraph)
Lots of workers wanted for Chinese factories. (Reuters)
The WSJ is aggressively becoming both sensationalist and political. (Felix Salmon)
