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Nine things you need to know about Morgan Stanley’s Q3 results
Morgan Stanley has continued the trend of slightly bleak Q3 reports from Wall Street banks. While M&A was the main bright spot, trading revenues in its investment bank – combined with poor...
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Deutsche Bank’s recent strategy is a tale of confusion and U-turns
In ten days’ time, Deutsche Bank will clarify exactly what’s going on in a strategy presentation. In theory, this will be the strategy to end all strategies. John Cryan is, after all, a doer, whereas...
View ArticleWhy I quit being a quant to help Asian bankers find maids
Quants are in the enviable position of both being in short supply (and therefore enjoying a comparatively stable career) and working in a job which demands a high degree of technical expertise....
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Morning Coffee: A senior banker went on holiday and this bad thing happened....
June 2015 was reasonably quiet in the foreign exchange (FX) markets. Global trading volumes were down nearly 7% on the previous year and nearly 4% on May. Yes, the Greek elections were happening, but...
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The two most important women at Deutsche Bank
Compliance and regulatory matters may not be the sexiest area of finance, but when it comes to Deutsche Bank’s new management structure, they’re a central and overlooked component. Anyone with a sniff...
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The dumbest jobs in finance, and how to escape them
Chirantan Barua, senior analyst for UK Banks at Bernstein Research, called it last year. Banking jobs are becoming more stupid, said Barua. As banks succumb to regulation and automation, ‘worker ants’...
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A brief history of Credit Suisse’s investment bank, in bubble charts
The big day is fast approaching at Credit Suisse. Tomorrow, at an as yet unspecified time, Tidjane Thiam will make his presentation on the future of Credit Suisse. We don’t know what he’s going to say,...
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Credit Suisse to cut 30% of London headcount, what you need to know about its...
If you work in Credit Suisse’s London office, you have every reason to feel nervous. London is primarily investment banking. Credit Suisse will now be focusing on wealth management. London is a...
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Bank of America’s ex-head of FICC trading has joined Capula Investment...
David Sabotka, who retired from his role as head of global fixed income, currencies and commodities at Bank of America Merrill Lynch in November, has now re-emerged at fixed income-focused hedge fund...
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Credit Suisse taken over by management consultants and equities honchos
There are some definite trends when it comes to high level promotions in investment banks. In the markets businesses, fixed income people are out; equities people are in. Overall, the management...
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How traders in investment banking are escaping trading
If you work in trading now, you should be concerned. First came the algorithms wiping out thousands of jobs, and now large investment banks are unveiling programmes to rapidly downsize their fixed...
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Here’s how Goldman Sachs keeps its 27-year-old women happy
Goldman Sachs, like all banks, has a problem with women in the senior ranks. The last time the firm promoted people to managing director, in 2013, only 20% of its promotions were women. The previous...
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Credit Suisse’s strategy is good news for its 2,800 employees at Madison Avenue
Credit Suisse Securities employs around 2,800 people in New York City according to the Financial Industry Regulatory Authority (FINRA). While the bank’s London headcount is being trimmed by 30%, most...
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Six boring Asian banking jobs with big prospects
Traders riding volatile stock markets, private bankers cashing in on millionaire wealth, China globalising its currency – Asia’s financial sector is one of growth and glamour. Or is it? Many of the...
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The weird benefits at Chinese banks have disappeared
Money for ice creams, random bonuses, commuting allowances…the sort of strange benefits associated with Chinese banks have disappeared for all employees as firms seek to quash any whiff of corruption...
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Where Credit Suisse will be hiring and firing, three charts
Yesterday was Credit Suisse’s big strategy day. We have everything you could ever want to know about Tidjane Thiam’s vision for the future here. But if you want the attenuated version, you can simply...
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Credit Suisse has cast a pall over 40,000 jobs in the City of London
As of yesterday, anyone working in a support role in an investment bank in the City of London has good reason to feel apprehensive. Citing the need to reduce its ‘fixed cost base to a lower “break even...
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Two reasons why Deutsche Bank’s (alleged) big bonus cut doesn’t matter
Bloomberg has got a story saying that Deutsche Bank is cutting its bonus pool by ‘almost a third’. This is the nub of the matter: Sounds bad? Don’t be deceived. Those of you with good memories will...
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How you are sabotaging your banking career
It makes no sense. You’re technically excellent, continue to bring in the numbers and yet yo.ur career is in stasis. True management roles, or even a necessary bump up to get a bigger salary, continue...
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The “easier” route into a job at a global bank in Asia
You’re applying for a graduate job at a global bank in Singapore but you know that places are limited and competition is strong. Goldman Sachs notoriously only hires around 4% of those who want to get...
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