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How to handle an interview for an ECM or DCM job
Together with M&A, jobs in equity capital markets (ECM) and debt capital markets (DCM) are grouped together under the banner of the investment banking division (IBD). If you’re a junior preparing...
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Morning Coffee: Deutsche Bank is doing something drastic. Do you have the...
Deutsche Bank has adopted the same aspirations as Barclays. So it would seem from the German bank’s announcement, ahead of its strategy meeting today, that it plans to cut costs to 70% of revenues by...
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What’s really going on at Barclays’ investment bank. Two charts
Barclays’ investment bankers may be celebrating the appointment of Jes Staley as the bank’s CEO, but that doesn’t mean their future will be glorious. As the chart below, from today’s ‘fixed income...
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Despite the cuts, RBS has been hiring fixed income traders
As European investment banks like Deutsche Bank and Credit Suisse unveil new plans to pull back from fixed income trading, a surprising source of recruitment is emerging – Royal Bank of Scotland. In...
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John Cryan’s most telling comments on Deutsche’s 2020 strategy
Today is Deutsche Bank’s results day. It is also the day of the bank’s 2020 strategy presentation. The bad news is that new CEO John Cryan says the bank won’t be out of the woods for several years....
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How much hedge funds pay in Hong Kong
Hedge funds have a reputation for paying huge sums, particularly in locations like London and New York, but what about Hong Kong? It is, after all, the biggest centre for hedge funds in Asia, even if...
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Morning Coffee: Where to go when you join a bank aged 21 and leave aged 44....
After spending the whole of your career and adult life working in banking, where can you go next? Several senior bankers have coincidentally shown the ways. Firstly, we have Mark Flannery, the former...
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The strangely symmetrical shrinkage of RBS’s investment bank. Where it’s...
The results of Royal Bank of Scotland’s investment bank are fast becoming something to sweep under the carpet. Its decision to pull back from M&A and equities, which have bolstered performance at...
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Brevan Howard hires Morgan Stanley’s Asia head of fixed income research
Brevan Howard has hired Morgan Stanley’s head of Asia fixed income research and credit strategy in another sign that the hedge fund is expanding again. Vikor Hjort joined Brevan Howard as a strategist...
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How investment banks accidentally screen for the middle class student
It’s no secret that investment banks have a tendency to hire students from a middle class or even upper middle class background. For all Goldman Sachs’ insistence that it doesn’t hire ‘entitled kids,’...
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How to spend your bonus. Or not
The time was, before the financial crisis burst the bubble, that Aston Martin dealerships would rub their hands when bonus season approached. Or estate agents across London and New York would welcome...
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The best international investment banks to work for in China
There’s a dramatic shift in China’s investment banking ecosystem this year. Previously dominant international banks have been displaced by local players, who have a plum positions on IPOs and big...
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Investment banking salaries and bonuses for 23 year-olds and 40 year-olds, by...
Which jobs in investment baking pay the most? You can certainly earn a very healthy salary and bonus as a junior in M&A, but the really big money in finance comes with time and doesn’t come to...
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Why HSBC’s investment bankers could feel good about themselves, a chart
HSBC’s results were out this morning. The bank, which is still based in London for the moment, was ‘reassuringly dull’ according to Ian Gordon at Investec. Revenues were weak in the third quarter (down...
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The small hedge fund quietly hiring from big banks
Two years ago, when George Kounelakis departed Morgan Stanley to start event-driven hedge fund Ena Investment Capital, the plan was to hire more than 20 people. This appears to have stalled. For much...
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“Spend your career in smaller banks and move on every four years”
When you’re choosing where to work, should you really go for the sorts of big name, big brand banks which look good on your CV and ensure you’ll command a pay premium for the rest of your career? Or...
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Is this why Deutsche Bank paid big money for Alasdair Warren from Goldman Sachs?
Deutsche Bank will very soon have a new head of investment banking in EMEA. The German bank has tapped Alasdair Warren from Goldman Sachs and Warren has responded to its advances despite the lateness...
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DBS hires 1,220 as Singaporean banks boost pay
As global firms like Deutsche Bank and Credit Suisse announce sweeping plans to slash staff costs, Singaporean banks have been hiring in the hundreds, and paying their employees a lot more money. DBS,...
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Morning Coffee: Paranoid, overworked, unhappy – meet the finance...
We write a lot about the travails of the junior IBD banker, such that if anyone’s going to be familiar with discontentment in the finance industry, you’d have thought it would be us. Nonetheless, the...
View ArticleWhy an MSc Finance will give you an edge over the competition in Singapore
The pace of change in Singapore’s dynamic financial services sector is picking up – rising regional wealth is fuelling the private banking industry, banks are investing more resources in compliance,...
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