Monday's Headlines: Prop Traders Could Become A Hot Commodity

eFC logo

Prop traders could turn into some of the most sought-after people on Wall Street as they reinvent themselves - and as more coups like KKR's hiring of Citibank's celebrated team appear on the horizon. [WSJ]

Citigroup is weighing the shift of two dozen prop traders to other parts of the bank, including client-facing roles. Meanwhile, Morgan Stanley is discussing options for its PDT equity desk that include moving the unit to asset management. Other traders may be less fortunate. [FT]

FrontPoint Partners' portfolio managers are taking back control of the four years after they sold it to Morgan Stanley. [American Banker]

Nomura bankers will eye the dollar-yen exchange rate nervously after the Tokyo-based investment bank decided to pay for some managers in dollars. [FT]

UBS is on track to continue hiring 30 to 40 private bankers a month. Tomorrow's earnings report will include the bank's fourth straight quarterly profit, and its lowest wealth management redemptions since 2008. [Bloomberg]

Fitch may cut the ratings of Bank of America and Citigroup because of new rules governing how the FDIC supports firms that pose a threat to the U.S. economy. [WSJ]

Popular job sectors

Loading...

Search jobs

Search articles

Close
Loading...
Loading...