If you want to keep your job over the next 12 months, it is advisable to move swiftly into risk at the earliest possible opportunity. Even though moves are being made to achieve a new and more appropriate equilibrium between front office staff and front office revenues, risk staff must not be bludgeoned back into obscurity no matter how bad things get.
So say Federal Reserve Officials. The Financial Times says they're warning US banks to protect risk-management and controls staff from imminent redundancies and that although such things haven't happened yet, they're "vigilant" just in case they do.
European banks may be less constrained when it comes to making risk, compliance and control redundancies. Notably, however, Hector Sants warned against such things in September 2008. Risk professionals enjoy powerful protection.
Man leaves UBS for Jefferies. (Jefferies)
Man leaves Credit Suisse for Jefferies. (Reuters)
Vikram Pandit might earn $200m this year. (Bloomberg)
Someone else is hiring in Brazil. (Bloomberg)
UBS has stolen Axel Weber from Deutsche Bank. (Reuters)
The jobs being lost in New York's financial industry will never come back. (Dealbreaker)
He is a multimillionaire who dislikes the ostentatious display of wealth and avoids debt like the plague. (Dealbreaker)
Men on Twitter are two times more likely to follow another man than another woman. (Forbes)