Five people hired by Goldman Sachs, J.P. Morgan, Deutsche and BAML in February. And what they mean for you
Who got hired by big banks in London during February? Where was the moving, shaking and rush to distance oneself from bad bonuses?
Changes to the UK's Financial Conduct Authority (FCA) Register suggest it was mostly at the junior end. So far, there haven't been many senior moves. This might be because the FCA Register tends to work on a lagged basis, or it might be because banks are simply stocking up on cheap juniors throughout the year instead of during the traditional summer recruiting season.
Either way, the few senior-level hires which there have been are all the more conspicuous. Here's who just go registered at Goldman, JPM, Deutsche and BAML.
1. Dikshit Sharma joined Goldman Sachs as a VP/ED in commodities index trading
After spending eight years as a complex risk and index trader at Deutsche, Sharma joined Goldman as an ED in February. He's there to trade commodities linked to 'exotics and index products.'
What this means for you: Goldman Sachs has benefited as banks like J.P. Morgan, Deutsche, Credit Suisse and Barclays have withdrawn from the commodities space. The bank clearly thinks there are still opportunities here and commodity ETFs have been a big growth area. This looks like a good place to be,
2. Hans Jacob Sverdrup Feder joined J.P. Morgan in a senior FX trading role
J.P. Morgan's recruitment of Hans Jacob Sverdrup Feder from Deutsche looks like something of a coup. Feder spent 10 years at Deutsche Asset and Wealth Management, most recently as global head of FX trading. He also created and ran Deutsche's programmatic FX trading business, dbSelect.
What this means for you: Experienced, untainted FX professionals are hot property following last year's purge of traders associated with FX fixing. If you're an FX trader with programmatic trading experience, even better.
3. Richard Innes joined J.P. Morgan as a vice president in securitised products
After two years at Lloyds Bank as an associate director originating asset backed solutions, Innes just joined J.P. Morgan's securitised products business where he will be, 'focusing on real estate structured finance in the UK & Europe.'
What this means for you: Even though RMBS deals for 2015 are at their lowest level year-to-date since 2009, securitization is one of the areas that was expected to do well this year. J.P. Morgan seems to think it's worth recruiting for. Revenues per head in securitization are also high compared to other markets roles, making it appealing from a pay perspective.
4. Piotr Krupa joined Deutsche Bank as an associate in M&A
Krupa just managed to impressively upscale his employer. After working for Raiffeisen Investment in Warsaw for three and a half years and interning at Rabobank International, he's joined Deutsche Bank's M&A team in London.
What this means for you: If you're an experienced analyst or associate in M&A and you want to move to a big name global bank, now is the time.
5. Ron Jarosinski joined BAML as an analyst in distressed situations and EM credit trading
Jarosinski isn't very senior - he just joined Bank of America Merrill Lynch (BAML) as an analyst. We're highlighting his arrival because a) he turned up in January (along with several other people), suggesting that BAML has two graduate intakes nowadays, b) his previous job was a four-month internship with ArteFact Partners, a hedge fund, and c) he studied at ESCP-EAP which is one of the best colleges at Europe if you want a front office banking job.
What this means for you: Try negotiating six months' travelling time after you graduate and joining the bank of your choice in January when you're fully relaxed.