Where should you work if you a) want appealing colleagues, b) want to be deemed appealing yourself? Try Goldman Sachs.
Data from Hinge, a dating application, suggests that within the finance sector, Goldman Sachs employees are most likely to get 'right-swiped' by users who want to find out more about them. Barclays employees rank second, UBS employees third, and JPMorgan employees fourth. Surprisingly (in light of the financial crisis), all financial services employees are more appealing than non-finance workers. Unsurprisingly (in light of finance professionals' lack of time), finance professionals were not found to be particularly choosy about who they swiped themselves. It could be that if you work for Goldman Sachs you are more appealing, but lack the time to leverage your appeal in a discriminating fashion. Hinge data originates from the U.S., but we suspect that similar trends apply to London.
Separately, an ex-JPMorgan banker who tried to sue the bank for unfair dismissal and disability discrimination has ended up suing his own lawyers instead. Bloomberg reports that 50 year-old Russell Chweidan has won £66k from law firm Mishcon De Reya after it failed to submit a crucial document on time. Chweidan was deemed to have an 18% chance of suing JPMorgan for £376k, but was unable to do so because his lawyers missed the deadline for an appeal. The case doesn't appear to have affected Chweidan's career. He now works as head of G3 credit trading at China Bank International and is declining to comment.
Employment lawyers suggest a method of avoiding the new extended UK bonus clawbacks. - Leave the country. (Financial Times)
Barclays may be cutting in fixed income but its boosting its high yield and financial sponsors team on the back of strong European high yield issuance. (Reuters)
Mark Yallop, head of UBS's UK business and the man tasked with improving the bank's reputation with regulators, is leaving his role, despite only moving into it last February. (Sky)
The IMF is a route into Morgan Stanley. The US bank has just hired Reza Moghadam, a former director in the IMF's European office, to work with sovereign clients in its capital markets business. (Reuters)
Revenues in SocGen's fixed income sales and trading business rose 9% year-on-year in the second quarter. French bank's FICC operations are doing well. (SocGen)
European banks like Credit Agricole, Nomura International (a Japanese bank based in London) and Deutsche are hiring for their US high yield units. (Bloomberg)
Why you won't miss banking when you leave, and will resist offers to go back again. (CNBC)
Be careful when you join a hedge fund. Most of them only last for five years. (Alphaville)
Why you don't want to leave banking for the tech industry. - "There’s this workaholism in the valley, where the ability to work on crash projects at tremendous rates of speed is almost a badge of honor,” says Steve Albrecht, a San Diego consultant who teaches substance abuse awareness for Bay Area employers. “These workers stay up for days and days, and many of them gradually get into meth and coke to keep going. Red Bull and coffee only gets them so far.” (TLNT)
If you’re an idealist, you might want to be a risk manager. (Pinterest)
Ten things you must not put on your CV. (Pinterest)
What the new banking bonus bashing means really. JPMorgan’s faux-promotions
Is JPMorgan letting go of the wrong people? How Goldman Sachs’ head of recruitment keeps his ‘edge’
Morgan Stanley juniors have been feeling underpaid, overworked and frustrated. Rush to staff-up in ECM