Friday's Headlines: Looking For A Corporate Accounting Job? Move to San Francisco
CFOs Predict Increased Accounting Hires in Last Six Months of 2010 [Armanino McKenna, via PRN]
As economic growth rebounds, San Francisco is shaping up as a fertile career spot for mid-career accountants, according to a new survey by California accounting firm Armanino McKenna LLP. More than 40 percent of San Francisco Bay Area CFOs expect to hire more accountants - primarily analysts, staff or senior accountants.
BofA Private-Equity Staff Said to Depart for Bank-Tied Ventures [Bloomberg BusinessWeek]
As Bank of America moves toward selling its commitments to private equity funds, about 30 employees are leaving to form two separate Charlotte-based affiliates that will manage PE investments for BofA and other clients. The groups are led by Jason Cipriani, BofA's head of strategic fund investments, and Travis Hain, a managing director who guides direct investments in companies.
Jefferies, Deutsche Extend Hiring Trend [Wall Street Letter]
Latest in a string of research department hires by Jefferies is Ken Usdin, bank sector analyst at Bank of America Merrill Lynch, who's due to start in October. Meanwhile, Deutsche Bank hired II-ranked medical supplies and devices analyst Kristen Stewart from Credit Suisse, and hired BarCap's Dixit Joshi last week to run its equities business in Europe, the Middle East and Africa.
Yesterday Bloomberg News reported that home sales in the Hamptons posted their second-largest quarterly jump in at least a decade. Now Forbes weighs in with a 13-item slide show of seven- and eight-figure home purchases by Wall Streeters, leading off with Lloyd Blankfein's $26 million Central Park West duplex in May. For which he paid all-cash.
Morgan Stanley's Pay Set-Aside Climbs as Goldman Sachs's Falls [Bloomberg News]
Stronger equity trading revenue allowed Morgan Stanley to set aside 37 percent more money for compensation in this year's first half than a year ago, while Goldman Sachs and JPMorgan reduced their compensation expenses. Goldman's net addition of 2,900 employees in the past 12 months further reduced its average pay per employee.
Feinberg To Find 17 Financial Firms Made 'Ill-Advised' Payments [WSJ, via Financial News]
In his final report Friday, the Treasury Department's paymaster Kenneth Feinberg is expected to label certain 2009 employee payouts made by Goldman Sachs, JP Morgan and Citigroup and 14 other institutions"ill-advised."
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