Trading Places

Inside views on the jobs market

Job Bank – Nov.12


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


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.


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.


The fee-based independent financial advisor appointed Peter Klauber, a former Ernst & Young senior partner, as its chairman.

Job Bank – Oct. 28


The following financial services industry appointments were announced on October 28, linked where possible to personal profiles on LinkedIn. To inform us of other job changes, please e-mail

Lazard Ltd said Alexis de Rosnay will join the firm as a vice chairman of Lazard International and as a senior member of its global financial advisory team, starting on Nov. 12. De Rosnay, based in London, was previously at Lehman Brothers, where he was co-head of investment banking for Europe and the Middle East as well as global co-head of health-care investment banking.

The bright side of financial turmoil


Who says it’s all gloom and doom on Wall Street? Sure, job cuts are fast and furious these days, but the deepening financial crisis is bringing about some interesting unintended consquences.  Time magazine reports that although the government bailout caps the salaries of top executives, it may actually prop up the bonuses of rank and file bankers.

True, those bonuses are substantially lower than they would’ve been had the markets not imploded in recent weeks — but not nearly as low as one might expect.

Job Bank – Oct. 21



The following financial servies industry appointments were announced on Oct. 21, linked where possible to personal profiles on LinkedIn. To inform us of other job changes, please e-mail


Merrill Lynch’s Global Wealth Management (GWM) group appointed Alla Fedorova as a financial advisor. The company also hired Katalin Cseh, previously with UBS wealth management. Fedorova & Cseh will be based in London and will work as a part of emerging European markets team.

More “slash and burn” to come?


An electronic ticker is seen inside a Bank of America Corp branch in New York September 15, 2008.REUTERS/Shannon Stapleton

Nerves are likely frayed at newly-acquired Merrill Lynch after analyst Richard Bove wrote a daunting note to clients warning of Bank of America’s “slash and burn” post-acquisition style, Bloomberg reports. A BofA spokesperson is mum on the size of the cuts, but Merrill CEO John Thain estimated in an earlier TV interview that cuts would be in the thousands. CNBC reported that about 500 sales and trading jobs across fixed-income and equity divisions have already been cut.

Meanwhile, some 4,000 National City employees are expected to get the axe as the Cleveland-based lender looks to shave costs over the next three years.

Big isn’t always better for brokers



Beaten-down brokers are weighing the benefits of staying at Wall Street mammoths Morgan Stanley and Merrill Lynch in a time when even the big guys aren’t so safe anymore. Turns out, well-established firms are still attractive to many brokers even as some decide to break ties altogether to set up their own shop.

“Merrill advisors are looking at the prospect of working for Ken Lewis and Bank of America and fear they will find themselves in a cost-cutting mentality,” says Howard Diamond, CEO of Diamond Consultants, a New Jersey-based financial services recruiter.

Job Bank – Oct. 9



The following are job changes within the financial industry for Oct. 7, linked where possible to personal and company profiles on LinkedIn. To inform us of other job changes, please e-mail

The Swiss investment bank said Janine McGrath Shelffo will join its Investment Banking Department (IBD) as a Managing Director in its Technology, Media and Telecommunications Banking group. Prior to this assignment, Shelffo was a managing director and senior coverage banker for the media sector at Lehman Brothers, where she worked since 2004.

Wall Street’s high-profile ‘job jumpers’



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.

BofA’s big challenge seen keeping Merrill advisers



NEW YORK (Reuters) – Merrill’s “thundering herd” may be stampeding into the sunset.

That’s Bank of America Corp’s fear as it proceeds with the planned $50 billion purchase of Merrill Lynch and prepares to inherit Merrill’s 16,000 financial advisers, part of the retail brokerage that Bank of America Chief Executive Kenneth Lewis has described as the “crown jewel.”

Wall Street job losses may be Asia’s gain


Add to cart   Add to lightbox (Hair) Download layout Download high resolution A woman walks in front of an electronic board displaying movements in major indices in Tokyo

MUMBAI/SHANGHAI: Within hours of Bank of America agreeing to buy Merrill Lynch this week, Indian financial services firm Ambit hired five Merrill executives, a sign that Asia hopes to gain from massive Wall Street layoffs.

For China and India, whose economies are still expanding at well over 7 percent, the global financial industry crisis makes it easier to recruit bankers who are brushing off their resumes.