Inside views on the jobs market
The following financial services industry appointments were announced on Nov. 12, linked where possible to personal profiles on LinkedIn. To inform us of other job changes, please e-mail firstname.lastname@example.org.
BREWIN DOLPHIN INVESTMENT BANKING
The investment manager appointed Nick Owen as the head of Corporate Broking, Michael Parkinson as head of Research; David Green as head of Sales and Trading, Matt Davis as deputy head of Corporate Finance and Jock Maxwell-Macdonald as deputy head of Sales. The company also promoted Jamie Cumming to Deputy Head of Investment Banking.
MERRILL LYNCH GLOBAL WEALTH MANAGEMENT
The U.S.-based investment bank’s wealth management arm named Andrew Keating as a financial advisor focusing on the U.K. and Ireland. Prior to joining Merrill Lynch, he was a financial advisor at Prudential-Bache International.
CONFORTO FINANCIAL MANAGEMENT
The fee-based independent financial advisor appointed Peter Klauber, a former Ernst & Young senior partner, as its chairman.
In the 1987 cult classic movie “Wall Street“, Michael Douglas plays a ruthless stockbroker desperate to cash in on a seemingly endless supply of wealth and swanky perks lavished on hot-shot traders.
Ahhh, the 80s…
More than twenty years later, most would agree that corporate greed still exists — but the perks may be dwindling.
Usually when a company announces dreaded plans to “cut costs” or “restructure”, it’s a sure sign a new batch of employees are about to be axed. But in a refreshing new take on saving money in the corporate world, one company has decided to move in a decidedly unique direction.
The term is “career break“, a solution that Irish Life & Permanent’s banking division has come up with in a bid to slash costs, not jobs. The plan offers employees $25,000 to $45,140 to take a 2- or 3-year “break” from their jobs, thus cutting expenses without actually firing anyone. The company didn’t say how many employees are planning to accept the offer — nor did it mention whether said jobs would still exist after the “break” was over — but it hopes the plan will appeal to bankers looking for more flexibility in their careers.
The following financial services industry appointment was announced on November 11, linked where possible to personal profiles on LinkedIn. To inform us of other job changes, please e-mail email@example.com.
Private equity firm Carlyle said it named Christopher Dodds, who retired last year as Chief Financial Officer of broker Charles Schwab Corp as Senior Advisor to its Global Financial Services Group. He is based in San Francisco and began on November 1, 2008.
In these dismal economic times, nothing comes in handy quite like a 5-step program to reclaiming your bonus. Of course, delicacy is key. With job cuts spreading like wild fire and the Treasury’s seemingly never-ending bailout, everyday taxpayers aren’t going to be rooting for you and your six-figure paycheque.
But as Bloomberg‘s Michael Lewis cheekily points out, all is not lost. You just need to rethink your strategy:
The following financial services industry appointments were announced on Nov.10, linked where possible to personal profiles on LinkedIn. To inform us of other job changes, please e-mail firstname.lastname@example.org.
GOLDMAN SACHS GROUP INC
Goldman Sachs has identified the six equity analysts fired by the company. Ousted are William Tanona, who covered companies such as JPMorgan Chase & Co; Deane Dray, who followed Honeywell International Inc; Charles Chon; Ajay Kejriwal; Lawrence Keusch and Peter Wahlstrom.
The following financial services industry appointment was announced on November 7, linked where possible to personal profiles on Linkedin. To inform us of other job changes, please e-mail email@example.com.
FRIENDS PROVIDENT PLC
The British life insurer named Evelyn Bourke, formerly CFO of Standard Life UK Financial Services, as its chief financial officer.
Out of work Wall Street bankers are flocking to some seemingly unlikely places to get a job. Executives at the Reuters Middle East Investment Summit say they’ve been bombarded with resumes from bankers scrambling to leave New York and London for opportunities in the Gulf.
The boom in interest marks a sharp turnaround for a region once hard-pressed to attract top talent, a problem made worse by a relatively young population. But bad news on Wall Street is good news for the Gulf.
It’s funny how the stock market manages to tell a story. This week’s euphoric pre-election surge is all but a memory now, with stocks back in their all-too-familiar slump. If Wall Street could talk, it would be saying: ”You’ve got your work cut out for you, Obama.”
Indeed, the President-elect faces what is likely the most daunting list of challenges ever faced by an incoming administration — and America’s precarious job situation is chief among them. A report by outplacement firm Challenger, Gray & Christmas indicates that planned layoffs surged to their highest level in nearly five years during October, with cuts in the finance industry leading the way. Meanwhile, the private job sector took a hit to the tune of 157,000 lost jobs last month, with signs pointing to further deterioration to come.
The following financial services industry appointment was announced on November 6, linked where possible to personal profiles on Linkedin. To inform us of other job changes, please e-mail firstname.lastname@example.org.
Deutsche Bank has appointed Michele Gissi and Roger Naylor as co-heads of its global equity derivatives unit, replacing Richard Carson. Carson, along with Nino Kjellman, former head of Asia equity derivatives, and Andrew Kent, a trader in equity derivatives, are leaving the company.