Friday’s Headlines: Wall Street Still Lures Top Grads

The best and the brightest are still heading for finance jobs, as evidenced by Dartmouth’s graduating class – 12 percent of whom have accepted jobs in financial services, following education and consulting – and the school’s four valedictorians this year, three of whom took Wall Street jobs and one who will be working for McKinsey. Finance leads job offer acceptances at Harvard and Princeton, writes a New York Times story:

Mr. Begor [a Dartmouth valedictorian who will be working for Morgan Stanley for two years before heading to Harvard Business School] said some of his peers’ interest in Wall Street had diminished, “but for me, it’s an extension of the academic challenges at Dartmouth, to learn about finance, which is something we don’t get exposed to at a liberal arts college.”

 

Other News:

Hong Kong Exchanges and Clearings will buy the London Metal Exchange for $2.14 billion. [DealBook]

Taiwan’s Cathay Financial aims to raise $1.33 billion for deals in China. [Reuters]

Nomura faces scrutiny over trading leaks. [Financial Times]

Finra fines Merrill $450k for structured products. [Investment News]

Pimco turns hedge fund into mutual fund. [Investment News]

Senior citizens lose billions to financial abuse. [CNN Money]

BlackRock takes Goldman’s place as leading asset manager. [Financial Times]

Hedge fund Bridgewater is testing “radical transparency” practices. [New York Magazine]

Opinion: Reform bank exec pay. [Fortune]