Late Lunchtime Links: Three places that are hiring, one of them in structured credit
It’s not all bad. Yes, Morgan McKinley thinks City of London job vacancies fell 42% year-on-year in November. Yes, Michael Page has issued a profit warning. Yes, the Bank of England is bearing down on bonuses. But there is some happy news too.
Firstly, Russian bank Troika Dialog, seems to intend some big hiring in M&A and capital markets next year. Bloomberg reports that it wants to add 25-100 people (thereby increasing its investment banking staff by 25-40%) in the next 12-14 months and 2-3, “director level bankers” for M&A by the end of 2011. VTB is also hiring outside Russia.
Secondly, somewhere is actually hiring structured product bankers. Aldermore, a new bank targeting small and medium sized enterprises, has launched a structured finance division and hired three people for it.
Thirdly, Jefferies is still hiring. This morning it revealed that it had recruited Michael Collinson from RBS as a managing director and European co-head of consumer and retail investment banking. Collinson appears to have left RBS in October. Were he poached, he may even have received a guarantee.
Also:
In October, four US managers gained FSA approval for offices in the UK capital: Castle Creek Arbitrage, a Chicago hedge fund manager; Carlson Capital, a Dallas alternative asset management firm; Area Property Partners, a New York real estate fund manager; and Grosvenor Capital Management, the world’s third-largest fund of hedge funds. (Financial News)
One senior bank executive says he comes in every day “praying” the stock price of his firm doesn’t go up before bonuses are handed out early next year. (Dealbook)
UBS has recouped £50m of tax owed on bonuses dating back to 2004 from its employees. It’s supposed to be recouping even more, but has gone to a tax tribunal (along with Deutsche, which also owes tax on bonuses) to try and avoid this. (Telegraph)
Barclays Capital’s 24,100 staff are on course to pocket an average £210,000 this year. The £5 billion compensation pot would include all salaries, bonuses and other pay-related perks, which would be about 10% down on last year. (Sunday Times)
Mizuho might hire 10 members of Unicredit’s ex-equities team. (Financial News)
If you don’t want to work in a bank and you do you want to work for a start-up with IPO potential, try here. (TechCrunch)
There are 3 places left in Europe to set up a fund - Malta, Ireland and Lux. Each has its pros and cons but Malta is the preferred choice. (Fintag)
The big untold truth about the investment banking industry is that “Asia is making no money” for the banks. . (Financial News)
A Columbia MBA appears to get a $500k+ hedge fund starting package. (Poetsandquants)
Lazard’s Matthieu Pigasse described himself as a pro-market Socialist. He is a financier who wants more market regulation and a millionaire banker who doesn't own real estate or a car. "I don't see any contradiction here," he said. (WSJ)
Occupy London protestors to meet Hector Sants in the Persian Tent at St Ethelburga’s Centre for Reconciliation and Peace. (Ekklesia)
Earn £2.5-£3.5k by allowing yourself to be infected with the flu and then monitored for 2 weeks by medical staff. (The Times)
