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This is how much you’ll earn working for XTX Markets
XTX Markets is the future. With capital-constrained banks less aggressive than in the past, non-bank electronic market makers like XTX are seizing their moment. In the 2018 Euromoney FX survey, XTX...
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Top salesman quits Macquarie for Barclays after six months
Remember Daniel Kaye? He’s the ex-Credit Suisse trader who’s been building out Macquarie’s London cash equities business, often with hires from Credit Suisse. One of his recruits hasn’t stuck around....
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Deutsche Bank’s problem: a historic culture of ruthless internal competition
Whenever things go wrong in any company, sooner or later fingers will point accusingly at its culture. Deutsche Bank is no exception. Despite a recent pop in the share price following a rare positive...
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Top quant trader who quit Credit Suisse in NYC said to be joining BAML
A top quantitative trader who left Credit Suisse’s New York office in May is understood to be joining Bank of America Merrill Lynch’s central risk team. Insiders say that Mitrajit Dutta, the former...
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Morning Coffee: Deutsche Bank’s curious junior hiring binge. Goldman Sachs’...
Did someone say “juniorization’? Deutsche Bank, which is in the process of cutting 7,000 people and has cut 1,700 so far, has significantly increased its recruitment of graduates this year. Business...
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The best and worst places to work at UBS for the rest of 2018
If you work for UBS now, you don’t want to be a contractor, or in equity capital markets. You do want to be in the U.S., probably. These are the implications of the Swiss bank’s second quarter results,...
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Balyasny traders finding new jobs as FCA Register indicates further exits
After last year’s frenetic hiring, Balyasny Asset Management has been clipping its wings. Around 10 macro traders were cut from the hedge fund’s macro training program in February and the UK’s FCA...
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Why tech staff in banks don’t get promoted. What to do about it
If you’re a technologist in an investment bank, you’re probably interested in getting promoted. Who doesn’t want to make it to the top? But you may also be aware that whenever managing director lists...
View ArticleMorning Coffee: Who’s the best boss in banking? Meet the banker with six...
Tidjane Thiam of Credit Suisse is “Banker of the Year” according to Euromoney, but ask his employees and you might get a different response. That’s the implication from a new piece of research from the...
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Deutsche Bank to pay generous bonuses under Christian Sewing
Deutsche Bank’s second quarter results are out. If you’re in the investment bank, they’re mixed. As the chart below shows, Deutsche did comparatively well in M&A but comparatively badly in fixed...
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European applications for jobs in the City of London have collapsed
Amidst all the talk of food rationing and blood stockpiling and following the European Union’s steadfast refusal to condone “enhanced equivalence” for financial services after the UK leaves the EU, it...
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I work on the buy-side and life is sweet
I don’t want to boast but I work on the buy-side as an analyst in a hedge fund. If you work on the sell-side, you have my commiserations. You’re missing out. They say the grass is greener on the other...
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Evercore’s secret appeal: pay is on track to average $600k+ per person
It’s not easy to get into Evercore. The boutique M&A firm has some of the hardest interviews in banking, according to Wall Street Oasis. The implication is that Evercore is in no hurry to offer its...
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Morning Coffee: Deutsche Bank’s job cuts were weirdly cheap to make. Barclays...
Yesterday’s second quarter results from Deutsche Bank included some curious revelations. Not only did Deutsche opt to accrue an additional €70m in bonus costs in the second quarter as the bank prepares...
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Sales trader accepts demotion to join Goldman Sachs
Goldman Sachs is continuing to hire outsiders, and they’re not all joining at the executive director level. Some of the firm’s most recent hires include juniors brought in from firms outside Goldman’s...
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It took 2,000 attempts before I got a job in private equity
I went straight from university into a job in private equity. This makes me one of the lucky ones: most private equity funds don’t have the resources to train you, so they like to hire people who’ve...
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New rape allegation suggests banks have a big cultural issue
It’s happened again, and it seems to be worse than before. Bloomberg is reporting that a junior banker at UBS was allegedly raped by a more senior employee at his home. Both the female junior and the...
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Nomura is quietly hiring some new traders
Nomura’s fixed income sales and trading business is not doing too well. The Japanese bank released its latest quarterly results today and it was all a bit bleak. The bank’s traders made a 7.4bn yen...
View ArticleHow EY is innovating financial services corporate finance
Growth, development, innovation and opportunity: these four words perfectly encapsulate the working environment within EY’s Financial Services Corporate Finance team in London. “Our growth rate at the...
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Morning Coffee: Why the smartest bankers are starting their new jobs this...
Summertime, and the job move news is coming in thick and fast. Jill Schwartz to Barclays leveraged finance. Baris Temelkuran from Goldman to BNP Paribas FX trading. Fabio Madar from Deutsche to...
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