Inside views on the jobs market
Some in the financial industry apparently smell opportunity in the latest round of mergers and blood-letting among top banks.
Referring to the Wells Fargo takeover of Wachovia as the WWF and placing Bank of America CEO Ken Lewis atop a bucking Merrill Lynch bull are just a couple of the attention-getting devices financial sector recruiting firm RJ & Makay uses in its latest promotional You Tube video.
Branching out from a previous video aimed at Merrill Lynch brokers, the new “Billion Dollar Video” (the company claims assets from advisers brought to them via these viral recruiting tools represent billions of dollars) targets all financial advisers but specifically appeals to those currently at Merrill Lynch and Wachovia.
Those brokers are grappling with with the question of whether to accept a retention/transition package, move to another firm or go independent. RJ & Mackay is clearly hoping they'll opt to walk and chose the firm to advise them on where to go next.
The New York Times’ Dealbook takes a look at some of Wall Street’s biggest movers and shakers as they have played musical chairs in the last few months:
Days after Lehman Brothers’ bankruptcy, it emerged that Mr. Shafir, a global cohead of mergers and acquisitions, was leaving for Citigroup. Mr. Shafir stayed long enough to help sell Lehman’s United States capital-markets business to Barclays.
Wall Street Journal: China Investment Corp. Wants You
Job-seeking Wall Street types don’t have a lot of options. Cutbacks have eliminated tens of thousands of jobs. The number of investment banks narrows seemingly by the day. How about going to work for China? China Investment Corp., Beijing’s $200 billion sovereign wealth fund, is launching a new round of recruiting, aiming to fill more than 30 spots from macroeconomic research to stock picking.
The Guardian: Bidders raise hope for UK Lehman jobs
Administrators of Lehman Brothers were racing last night to save up to 3,000 City jobs by selling the UK operations to potential bidders believed to include Barclays and Japan’s Nomura.
The following are job changes within the financial industry for September 22, linked where possible to profiles on LinkedIn.
The Japanese investment bank said James Lamb, Steven Ware, Kai Herbert, Sami Amara and Lofti Bensassi have joined its global foreign exchange sales and trading team in London. Herbert was previously from Bank of America, while the other four had worked at Bear Stearns.