The most intimidating interview in finance. 22 year-old bankers found to be horribly naive
If you're trying to get a job in banking, you might think J.P. Morgan's brain teaser interview questions are as hard as it gets. You'd be wrong. Somewhere, several above higher in terms of difficulty, are the interviews with the so-called 'grey panthers' of the U.K.'s Financial Conduct Authority (FCA).
The grey panthers are ex-senior bankers who are employed by the regulator to pose challenging questions to any current pretenders to the top jobs in the U.K.'s financial services industry. The panther interviews are deliberately intimidating according to one regulatory lawyer who's coached people through them.
Candidates are grilled on everything from their understanding of the firm they aspire to work for, to the FCA's concerns about the sector and their plans for the future development of the business. The panthers don't always let their prey escape. Michele Foresti tried to join Bank of America from Deutsche Bank last year, but quit for Brevan Howard after the FCA declined to give him the regulatory go-ahead to become BofA's head of FICC trading for EMEA.
In the circumstances, Jes Staley may be feeling a bit apprehensive. Bloomberg reports that Staley is due to have an interview with the Panthers next Tuesday. Only if he bears up under their scrutiny will Staley be free to become CEO of Barclays. There may be hope for Tushar Morzaria yet.
Separately, Business Insider has discovered what it was that Goldman Sachs' analysts were doing when they were fired for cheating. They were reportedly Googling the terms from exam questions using the very same computers that Goldman Sachs gave them to take the exams. This was despite being warned that cheating on the tests would not be tolerated...
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Forget being a banker, Biff Tannen explains the real way to get rich in Back to the Future II.