Nordic banks may be better placed than many of their European contemporaries to implement the new Basel III capital and liquidity reforms thrashed out this week, according to analysts, but in the long run this is unlikely to make a huge amount of difference when it comes to attracting the best risk and compliance talent, suggest recruiters. Meetings this week by key officials in Switzerland reached a broad consensus on the... Read more
By Nic Paton, 29 Jul 2010 - 0 comments
Swedbank has risked public wrath by increasing bonuses within its First Securities broker-dealer division in the second quarter of this year, at the same time as the business unit has reported lower half-yearly profits. Staff costs at the bank, including bonuses, rose by 2% to SEK2.423bn in the second three months of the year against Q1 and 6% compared with the same point a year ago, primarily because of “higher variable... Read more
By Nic Paton, 22 Jul 2010 - 0 comments
Regardless of the debate around the number of people currently pursuing financial services positions, two things are certain: there are thousands of financial services CVs available on CV databases, and any recruiter advertising a job has to trawl through many hundreds of them every single day. This being so, how can you ensure that your CV isn’t consigned to a life of oblivion? 1) Use key words If you send your CV to... Read more
By Sarah Butcher, 20 Jul 2010 - 21 comments
Unfortunately, our win-an-iPad competition is now closed, with the winner to be announced later this week. In the meantime, here's the final instalment of the real life interview questions you sent through. Previous instalments can be viewed here, and here. Click on the questions below to view the answers and to find out something about the situation they were asked in. All organisations have rules, all markets have rules, and sometimes these... Read more
By Sarah Butcher, 20 Jul 2010 - 1 comment
In case you’re wondering how keen you have to be to work at Goldman Sachs, Alison Mass, an MD and co-head of financial sponsors at Goldman in the US, is here to elucidate. Mass gave the inaugural speech to new arrivals at NYU Stern this year, and divulged just how much she loves her job. First let me state the obvious: I truly love my work. I wake up excited to... Read more
By Sarah Butcher, 20 Jul 2010 - 32 comments
Business volumes at SEB continued to improve in the second quarter of this year, with the bank increasing its credit exposure, private banking and asset management activities, as well as spending more on IT specialists and consultants. Overall, Q2 and half-year figures published today showed the financial woes of the Baltic economies continuing to act as a drag on its figures, but that the picture otherwise was improving. Half-year operating profit before... Read more
By Nic Paton, 13 Jul 2010 - 0 comments
Following our previous article on off-sites , and given that they seem to be on the return and that you are practically certain to be attending one sometime soon, here are six people to look out for: 1. The One Who Doesn’t Want To Be There Usually a relatively senior manager and the one most people want to schmooze. They genuinely believe that off-sites are a total waste of time (and usually... Read more
By Anonymous , 09 Jul 2010 - 4 comments
The number of dollar millionaires in Sweden is growing faster than almost any other European country, a trend in turn leading to increased demand for private bankers and relationship managers who understand the Nordic market. A report by Merrill Lynch and Cap Gemini has suggested the number of US dollar millionaires in Sweden grew by more than a fifth last year. By the end of 2009 there were 48,300 high net worth... Read more
By Nic Paton, 09 Jul 2010 - 0 comments
I was a newbie in a bank once, so please don't take this the wrong way. I’m writing this in the context of “things I wish I knew then”… 1) You’re useless One day, with careful nurturing, you might be useful, but until you wise up you are a cost centre. Whatever your job title you are an apprentice. 2) You’re dumber than the people you work with Banking pays better than real... Read more
By Dominic Connor, 08 Jul 2010 - 27 comments
Back in the day, JPM derivatives desk was known as being the most aggressive of the bulge banks(it still had the legacy team of Bill Winters tenure at the time). Certainly, for challenging interviews it blew all the other banks I looked at (GS, Deutsche, Merrill, Morgan) out of the water. This was the main reason I accepted JPM in the end: I knew the guys on the desk thought in... Read more
By Anonymous , 06 Jul 2010 - 16 comments
An MBA is a question of timing: get it wrong and you’ll find yourself spending £40k+ on two years out of the market when pay is peaking; even worse you may then find it impossible to get back in due to a glut of recently redundant experienced analysts. Equally, however, if you’re determined to do an MBA and you put it off for too long waiting for optimal market conditions, you’ll... Read more
By Sarah Butcher, 23 Feb 2010 - 54 comments
A CFA can only be good for your career – right? After all, it’s not easy: only 20% of people make it through all three levels, and as few as 34% of people pass the CFA Level 1. However, even though a CFA is often a good career move, in some situations it simply isn’t. Which situations? Well… 1) When you really want to work in trading The CFA is particularly... Read more
By Sarah Butcher, 20 Apr 2010 - 53 comments
After 20+ years of full time employment (largely with rating agencies), the start-up agency I was working for was suddenly closed in Jan. 2008. Since then, I have gotten some contract work but offers are getting less frequent now. I believe some of the CV issues I have are 1) too much time worked at rating agencies (unfortunately not seen as having relevant commercial experience in many financial services sectors)... Read more
By Anonymous , 07 May 2009 - 33 comments
In case you’re wondering how keen you have to be to work at Goldman Sachs, Alison Mass, an MD and co-head of financial sponsors at Goldman in the US, is here to elucidate. Mass gave the inaugural speech to new arrivals at NYU Stern this year, and divulged just how much she loves her job. First let me state the obvious: I truly love my work. I wake up excited to... Read more
By Sarah Butcher, 20 Jul 2010 - 32 comments
The questions asked in investment banking interviews are evidently varied. However, whether you’re interviewing as a rates structurer or an investment banking security guard, you will always be asked this: “Why do you want this job?” And if you give any of the answers below, you are unlikely to get it. 1) I really love this company, I’d really, really love to come and work for you. “You need to be very... Read more
By Sarah Butcher, 22 Jun 2010 - 28 comments
I was a newbie in a bank once, so please don't take this the wrong way. I’m writing this in the context of “things I wish I knew then”… 1) You’re useless One day, with careful nurturing, you might be useful, but until you wise up you are a cost centre. Whatever your job title you are an apprentice. 2) You’re dumber than the people you work with Banking pays better than real... Read more
By Dominic Connor, 08 Jul 2010 - 27 comments
In the same way that Margaret Thatcher (allegedly) said that anyone using a bus aged more than 26 can count him or herself a failure in life, can the same thing be said for anyone aged 35+ who’s obliged to send in their CV for job applications? Some people seem to think so. “If I received a CV from a standard candidate who’d left university aged 21-22 and was a senior VP... Read more
By Sarah Butcher, 06 Jul 2010 - 25 comments
Regardless of the debate around the number of people currently pursuing financial services positions, two things are certain: there are thousands of financial services CVs available on CV databases, and any recruiter advertising a job has to trawl through many hundreds of them every single day. This being so, how can you ensure that your CV isn’t consigned to a life of oblivion? 1) Use key words If you send your CV to... Read more
By Sarah Butcher, 20 Jul 2010 - 21 comments
If you want to go into trading, but you didn’t manage to get a position as a trader straight out of university, you may be feeling a little thwarted. Most banks hire fewer MBAs into sales and trading positions than into M&A or capital markets, so it can be difficult to ride the top business school route into trading. Fortunately, there are other less expensive paths to the trading desk.... Read more
By Sarah Butcher, 23 Mar 2010 - 21 comments
If you want to work in financial services and your CV includes long periods of inactivity and doesn’t chart a perfect career trajectory of the kind we described last month, you may be feeling a little sweaty. Long gaps in a CV never look good. This is particularly so in investment banking, where organizations like Barclays Capital run dreaded Chronological Indepth Structured Interviews lasting many hours, with the intention of... Read more
By Sarah Butcher, 06 Apr 2010 - 19 comments
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