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Lunchtime Links: Is a weekend job in a garden centre the only option if you leave financial services?

There have been several stories about former financial services professionals who have gone on to do other things, but none so worrying as that concerning Jason Geddis, a former VP and metals trader at Dresdner Kleinwort, who has been banned from working in the financial services industry by the FSA.

Unable to do anything financial, the FT says Geddis has been reduced to, 'working weekends at a garden centre.'

Geddis is asking for his ban to be revoked in order that he may escape the power tools aisle. He could, however, follow the example set by Peter Muller, the head of Morgan Stanley's Process Driven Trading Group, who doubles as a busker and has written a song titled, "I wish I Had a Madman" (about a Spanish conquistador).

Man Group has refined its compensation scheme so that employees will be able to receive options worth up to 200-500% of their base salaries. Previously they could get 200% of their total compensation. (Wall Street Journal)

Private bankers are being hired in the Middle East. (Bloomberg)

Yoël Zaoui, new co-head of global M&A at Goldman Sachs, says: "We want to be leaders in emerging countries and high potential markets." (Agefi)

Maybe you should be a graduate trainee at HSBC. (Financial Times)

Fuld is looking to jump start the consulting business he started after Lehman's bankruptcy three years ago by pitching himself as a financial handy man. (Gawker)

Want to make more money than a banker? Become a farmer. (Time)

Iceland has limited bonuses to 25% of pay and says they must be deferred over three years. (Bloomberg)

Fatty foods are like marijuana. (Gawker)

Effusive Credit Suisse banker pens parting email. (Dealbreaker)

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AUTHOReFinancialCareers UK Insider Comment
  • an
    anon
    14 July 2011

    Before you make sweeping statements about the individual involved take a moment to realise you do not know him or the full details of the situation.
    In every sector (see NOTW scandal) there are people who think they are above the law but you cannot tar everyone with the same brush.

  • Ro
    Roger
    13 July 2011

    There will always be one person risking to do what has'nt been done before (in their opinion). They become so high and actually believe in their own hype until they get caught. Because eventually they do get caught. The FSA might be slow on the uptake, but they do catch on eventually. And when they do and penalise the individual, they suddenly remember that they too are mere mortals- do the crime pay the time.

  • Tr
    Trader investing own funds
    7 July 2011

    John, most traders' pants are full when they have to trade their own funds, they only enjoy playing with client funds since then they have no downside then.

  • Jo
    John
    7 July 2011

    You'd think a trader with 20-years experience (according to the FT article) could set up a trading account with a broker/Spread Betting firm and trade his own money!

    Just goes to show the amount of dead wood in the City.

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