Morning Coffee: Anshu Jain on the joys of working for Deutsche Bank. How to get a job at BlueCrest
It's a cliché to say that a job is great because no two days are ever the same, but according to Anshu Jain, it's a cliché that's entirely apt when it comes to Deutsche Bank. "If you start your career here, I will guarantee you, you will not be bored for a day. Learning new things and broadening your horizon will be a constant feature in (sic) your work," proclaimed Deutsche's co-CEO in a presentation to students yesterday.
Jain's sell didn't stop there. Working in finance is a, "constant learning curve," he declared. - "In finance you constantly have to learn new things, you will never know everything there is to know... It is a very creative job and curiosity is the key to success.” There are limits to this, however: "We tell our employees we don't want to see them at the weekends," said Jain.
Separately, Michael Platt, founder of hedge fund BlueCrest Capital Management, has been profiled by Bloomberg. Platt's profile notes that he's the son of a civil-engineering teacher and university administrator, who graduated from the London School of Economics. He's a billionaire who owns many flats in Manhattan. He sponsors art involving wax gorillas and managed to generate returns of 43% and 45% in the bad years of 2008 and 2009 respectively. As a 10 year-old child, he learned how to comprehensively solve the Rubicks Cube within 36 hours of being given one by his father.
Want to work for Platt? He likes to hire the sort of person who's always seeking to benefit from fallibility in others. “I look for the type of guy in London who gets up at 7 o’clock on Sunday morning when his kids are still in bed and logs onto a poker site so that he can pick off the U.S. drunks coming home on Saturday night,” Platt reportedly said two years ago. “I hired a guy like that. He usually clears 5 or 10 grand every Sunday morning before breakfast.”
Bloomberg also notes that BlueCrest is bleeding assets. Platt reportedly 'spurns chitchat' in the style of Bill Gross. And if you lose money, you won't last long: "If we decide we don’t like a trader’s risk, then departures can be slightly abrupt," admits BlueCrest's CFO.
HSBC is still hiring for its natural resources M&A team. It just hired veteran M&A banker Adam Brett. (Financial News)
High frequency trading firms are closing their doors in Europe. The latest to do so is Chopper Trading. Last month RGM Advisors shuttered its London operation too. (Financial News)
The only Deutsche banker allowed to muse on Twitter has just gone to Morgan Stanley. (Reuters)
UBS just hired Jonathan Lewis from Nomura as CFO of its investment bank. (Bloomberg)
CEO Larry Page reviews every outgoing job offer at Google. (Quartz)
39 life lessons I've learned in 39 years. (MindBodyGreen)
Why people hate their cubicles. (Harvard Business Review)