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Lunchtime Links: Adair Turner says aggressive hiring of traders is occurring
23 June 2009By Sarah Butcher
Adair Turner, chairman of the Financial Services Authority, is in the Financial Times today making some encouraging noises about traders. According to Lord Turner, “aggressive” hiring of traders by investment banks has been spotted and there are signs of [complacent] banks returning to business as usual.
We, however, think there’s a possibility that Lord Turner is confusing banks’ current enthusiasm for execution and flow traders for recruitment of the kinds of risk-taking, gambling, proprietary traders that got them into so much trouble. In the current climate, there’s still very little demand for the scurrilous prop species, but many banks and brokerage houses are doing their utmost to build up in less risky flow businesses.
Goldman denies it will be paying enormously huge bonuses. (NYDailyNews)
Mr Hester is not in fact greedy. If he were, he would presumably have remained a senior banker at CSFB. (TheTimes)
Who’s hiring around the world? (TheDeal)
Cantor Fitzgerald hires head of leverage finance, on mission to add 50-70 people. (BusinessWire)
Nomura hires head of financing solutions from UBS. (Reuters)
RBS has hired 10 people in equity sales and ECM. (FinancialNews)
“We have lost the broader argument about ceding control of UK rules to the EU.” (Telegraph)
Thousands of banking jobs in danger of disappearing in Ireland. (IrishTimes)
Harvard graduates relieved there aren’t Wall Street jobs available. (Clusterstock)
How to win friends and influence people in investment banking while slacking off and only pretending to work. (MergersandInquisitions)
You are not unemployed, you are funemployed. (CNBC)
COMMENTS
Henry, FX & Money Markets, Tue 23 Jun 09
And why is this a bad thing? Surely any opportunity to stick 2 fingers up at the general public is a great thing!
Add your comment »ZLTE017, Tue 23 Jun 09
Here here Henry. It's about time those who deserve to be well paid were
Add your comment »Kingston is a chav town, Equities, Tue 23 Jun 09
Henry, though arrogant, is , i am pretty sure now, what he says he is. the detail he gives is enough
ZLTE017 - you are not even in a bank. from your other posts, the kind of things you write are unconvincing. It's irritating
ATL, Asset Management, Fri 26 Jun 09
I'll cut-and-paste the same comment I placed in three other discussions, because it's equally applicable here:
It's amazing how a story like this, which should spark an interesting debate, somehow always degenerates into immature self-promotion. Why don't the clever-clogs who profess to have attended world-class academic institutions and who now say they work at world-class financial institutions actually contribute rather than pontificate over and over about how great they are. In my opinion, and I'm sure most readers, these individuals are spouting the highest order of BS.