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TOP STORIESLunchtime Links: China Investment Corp hiring 29+ people globally17 June 2009COMMENTSThey will have you sweating on £37.5k a year, 2 weeks holiday and £11.20 per week in Luncheon Vouchers. Read all comments »If you fancy work for a very large state run financial enterprise, then you are in luck. Reuters reports that China Investment Corp (CIC), the $200bn Chinese sovereign wealth fund, is hiring people. And it is hiring them globally (it plans to open an office in London).
Among those on its shopping list are risk managers, real estate professionals, infrastructure professionals, commodities and hedge fund investment experts, and people who know about relative return investing and strategy investing and who can research asset allocation.
Reuters hasn’t got any firm numbers, but the Australian Financial Standard cites reports that it’s hiring 29 people. There are obvious advantages to working for CIC (power, global dominance etc.), but the pay is not thought to be great and it has close links to the Chinese government: CIC chairman Lou Jiwei, has never been a fund manager, but spent eight years as Deputy Finance Minister.
“Wall Street seems to maybe have a shorter memory about how close we were to the abyss than I would have expected.” (Bloomberg)
“Anyone who thinks that we can carry on as if nothing has happened should think again.” (Financial Times)
Goldman Sachs: sorry about the financial crisis. (Clusterstock)
Goldman to repay TARP today. (CNBC)
Morgan Stanley to repay TARP today. (Guardian)
Morgan Stanley looks naked without TARP money. (Time)
Morgan Stanley revamping its prime brokerage unit. (Wall Street Journal)
Getting a foot in the door at Morgan Stanley. (MarketWatch)
Signs of hiring on Wall Street. (Wall Street Journal)
The financial services industry is hiring again. (The Deal)
M&A back to 2004 levels by 2011. (Wall Street Journal)
Macquarie deferring its new pay plan due to tax uncertainty. (Bloomberg)
When Goldman Sachs boys celebrate, my fury meter goes way up. (Huffington Post)
Wall Street’s reckless millionaires get a free pass. (Daily Beast)
McDonalds being deluged with applications from 'bank workers' and teachers. (Daily Mail)
COMMENTSThe man, Corporate Banking, Wed 17 Jun 09They will have you sweating on £37.5k a year, 2 weeks holiday and £11.20 per week in Luncheon Vouchers. Add your comment »autobotalex, Student, Wed 17 Jun 09No need to apply if you don't also have a heart for China. The CIC does not need people who can only get up in the morning to go to work because of the money. If you love money more than you love China, you will not be a good fit there. CIC will be better off without such people. Even Warren Buffett puts where one's heart is ahead of where one's head is. And I know there will be no shortage of financial talents around the world who would see their work at CIC as more than just a job. If I were in finance, I would apply regardless of the level of pay and benefits. I wish I were in finance. Add your comment »anon, Asset Management, Wed 17 Jun 09"If you love money more than you love China" huh! whats wrong with u Add your comment » |
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