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Lunchtime Links: Depressingly, the most famous unemployed banker of the crisis remains unemployed

In 2005, Joshua Persky was head of syndicated loans at Fortis Capital. Between 2005 and 2007 he worked on corporate valuations at Houlihan Lokey Howard and Zukin. Then he lost his job. Since then, Joshua's had one paid position - lasting five months.

This is depressing because Joshua is famous. He is the MIT graduate who spent some of 2008 standing in Manhattan wearing a sandwich board proclaiming his availability to be hired.

It didn't work. "It's been a struggle of generational proportion," Persky told CNN. "I had a nice run of 25-30 years of work until 2007."

In the absence of paid employment, Persky has tried setting up his own businesses selling iPhone apps and LED displays of Tweets, without much success - yet.

"We were surprised to find that, all things being equal, unemployed applicants were viewed as less competent, warm and hireable than employed individuals." (Physorg)

You can earn $227k a year, without a degree, working in the Australian mining industry. (Bloomberg)

Envy is a stronger motivator than admiration. (BPS)

A decade ago there were seven graduate level quant programs in the United States; today there are close to a hundred - each cranking out anywhere from twenty to a hundred graduates a year. (Quantnet)

UBS Friday confirmed roughly 20 staff have left its German private banking arm, reportedly for Hamburg-based Harald Quandt Trust. (Financial News)

Nomura still wants to hire 600 university graduates in Japan. (Bloomberg)

25 hedge fund managers have earned $22bn. (NY Times)

Brazil: new frontier for hedge funds. (Dealbook)

Code staff at Standard Chartered earned an average of 1.4m ($2.3m) last year. (Telegraph)

"At the top, Goldman is a firm full of alpha males, and alpha females, if such a thing exists there." (Financial News)

Hong Kong has more background radiation that Tokyo - even now. (Bloomberg)

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AUTHOReFinancialCareers UK Insider Comment
  • Ma
    Martin
    4 April 2011

    Perhaps the problem is with the US. If Joshua Persky wants to send his CV through to one of us here in Asia, I am sure we can land him something rewarding, meaningful and valuable.

    But hurry there are others that have worked out that talent is shifting and which are also making the move.

  • an
    angelm81
    4 April 2011

    "Envy is a stronger motivator than admiration. (BPS) "

    Depends for who ? I personally learn and involve better in an
    environment where I respect and admire people.
    Instead of a place where everyone keep observing each others and try to find every small weaknesses to put you down in order to look good themselves or make others looking good. My point of view of course.

  • Ru
    Ruthless
    4 April 2011

    Why is that depressing?

  • Al
    AliDesai
    1 April 2011

    this is why Charlie is now my small provincial town.

    Goldman's loss, our gain.

  • HF
    HFunder
    1 April 2011

    Goldman is a firm full of alpha males, and alpha females, all of them fools

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The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.