Bonus Watch ’20: Credit Suisse Shows Bankers Some Love
They’re feeling very SPACial.
Layoffs Watch ’20 And Beyond: Turns Out Investment Banking Doesn’t Require Quite So Many Investment Bankers
Wall Street can print money without you.
Senior Deutsche Bankers Defecting To Citi And HSBC So, Yeah, It's THAT Bad At Deutsche These Days
Time to "update" your resumes, Deutsche rainmakers.
Did JPMorgan Just Transfer An Entire IB Team To Texas?
Our sources say "Yessir, buckaroo."
Senior Goldman Sachs Investment Banker Defects To KKR In Obvious Attempt To Wash Her Hands Of Firmwide Trader Massacre
Why else would a senior i-banker in Asia leave Goldman these days?
David Solomon's Culling Of Goldman Sachs Traders Reportedly Catches A Major Body
20-year veteran and head of program is thought to be the latest victim of DJ D-Sol and John Waldron's trading floor megadeath.
Credit Suisse CEO, Credit Suisse Bankers Pretty Much Openly Hating Each Other Right Now: NYT
Things are quite to very awkward at the Swiss bank.
Investment Bankers Yet To Get It Through Their Thick Skulls That Pay Goes Down Sometimes: Credit Suisse CEO
Tidjane Thiam has been working, in vain, to get it through to them.
Bonus Watch '16: No One Is In This Business For The Money, Right?
Otherwise next week's bonus conversations could get awkward.
Harvard MBA Wouldn't Be Caught Dead Working At An Investment Bank
He'd also find it hard to associate with someone working at one.
Bank CEO: Wall Street Is High School And Banks Are An Unbangable Mess
You guys are so gonna be so sorry when their loan portfolios develop to maturity...
Layoffs Watch '12: RBS
Like Bank of America, RBS has some big goals for the coming year, chief among them being the firing of several thousand investment bankers. (For those skeptical they can do it, according to a PowerPoint presentation presented yesterday, re: the "exits," quite a bit of progress has already been made.) Royal Bank of Scotland, Britain’s biggest government-owned lender, said it will cut 300 more jobs at its investment banking unit and is “on track” with its plan to exit businesses. RBS will eliminate 3,800 jobs at the division by the fourth quarter of next year, compared with an earlier target of 3,500, according to slides based on a presentation delivered by John Hourican, chief of markets and international banking, to analysts Monday. About 3,000 of the cuts will have completed this year, RBS said...The bank’s control of costs is “ongoing,” said Chris Kyle, chief financial officer of markets and international banking, at the presentation. “We will almost certainly hit this year’s number” in terms of the guidance, he said. Royal Bank Of Scotland Cuts 300 More Jobs At Investment Bank [Bloomberg] RBS Markets Investor Roundtable [RBS]
Germans Still Not So Sure About This Anshu Jain Guy
Tomorrow morning, Anshu Jain will start his new job as co-CEO of Deutsche Bank. Despite having previously overseen operations that produce 90 percent of the firm's profits in any given quarter, sitting on the management committee, and generally being considered a "star" both within the company and among those who follow his work, chief executive officer is a title no one thought AJ would be given if he remained at DB, because 1) people back in Germany don't like that he's an investment banker and 2) "In Germany, no one can imagine an Indian working in London who does not speak German being CEO of Deutsche Bank." To the haters' chagrin, though, that's exactly what's about to happen. And if they want to continue bitching about it, they can be Jain's guest-- their insults go in one ear and out the other. While Mr. Jain has taken German lessons, he doesn't speak the language, and Der Spiegel, the country's best-selling weekly magazine, ran a 12-page cover story earlier this year laying much of the blame for Deutsche Bank's troubles at Mr. Jain's feet. Jain Takes The Reigns At Deutsche [WSJ]
Layoffs Watch '12: Investment Bankers, Everywhere
Gird your loins. Having already slashed bonuses, banks including Citigroup, Goldman Sachs, J.P. Morgan Chase, Morgan Stanley, are preparing to cut dozens of jobs, including some held by senior bankers, according to people familiar with the matter. As they pursue this targeted round of trims as soon as next month, they and rivals are also revisiting profit expectations for their advisory businesses, people familiar with the matter said. Until recently, Wall Street's ax had largely fallen on trading desks, which shed thousands of jobs as business dried up due to regulations and lackluster markets. But the cost-cutting focus is now expanding to deal makers and corporate advisers that have remained among Wall Street's most high-profile professionals even as their contributions to banks' bottom line has been dwarfed by traders. In addition to mergers-and-acquisitions advisory, investment banking includes raising capital through stock and debt. Wall Street Gets Lean [WSJ]