Monday's Headlines: MBA grads prefer Google over Goldman
Graduates with MBA degrees are choosing to work for Google and McKinsey over Goldman, CNN Money reports. Google topped the charts for the fifth year in a row, CNN says, citing a survey by research firm Universum. Consulting firm McKinsey came in second, because it is considered a training ground and launching pad for a wide variety of business careers.
Financial firms have been on the decline since the financial crisis, but major players such as Goldman Sachs, JP Morgan and Morgan Stanley have managed to remain in the top 15. Google and other tech and engineering firms are so popular with recent graduates because they have not been as badly hurt by the financial crisis, CNN says.
"It has been a bumpy road for the banks and financial institutions," Karl-Johan Hasselstrom, Universum's regional manager said, according to CNN Money. "A vast majority of these firms have decreased in attractiveness."
European banks have risky exposure to Southern Europe business, personal loans. [Wall Street Journal]
Russia's Sberbank wants to become big player in central Europe as lending growth looms. [BusinessWeek]
Barclays cut jobs in Indian commercial and investment banking units.[MarketWatch]
Man Group to buy exposure to Lehman Brothers from GLG funds. [Reuters]
Bank of America needs $50 billion cushion at expense of dividend payment. [Bloomberg]
High-frequency traders form industry group to fight regulators, boost reputation. [New York Times]
Financial advisers moving to fee-based accounts ahead of regulatory changes. [Investment News]
Europe bank stress tests criticized as too weak by analysts. [MarketWatch]
Morgan Stanley working hard to turn around fixed-income trading profits.[BusinessWeek]
Charles Schwab pushing new franchise program, some say it's a tough sell. [Investment News]