Lunchtime Links: Scary statement suggests banks' junior hiring has collapsed

eFC logo

Just when everyone's all excited because Goldman's had a golden quarter comes some rather nasty news from the Securities & Investment Institute. The Institute's chief exec crops up in The Times today, saying that he thinks the number of people taking SII exams in the City might be down 50% this year, but that it's more likely to be down as much as two thirds. This is not good. A high proportion of SII exam takers are banks' graduate hires and forward bookings are apparently 'fairly horrendous.'

Once Goldman's TARP is paid off, every talented bulge-bracket banker at every other big TARP firm--Morgan Stanley, Bank of America, Citigroup, Merrill Lynch--will line up around the block to work at Goldman Sachs. (Business Insider)

Goldman VaR up 53%. (Wall Street Journal)

The demise of Goldman Sachs didn't last long. It shed all its toxic crap to the US government and has started off the new year with a clean sheet of paper. I am sure Obama et al are delighted. (Fintag)

Goldman's performance will endure. (CNBC)

RIP Dresdner K's M&A advisory, capital markets and equities businesses. Long live its businesses focused on German clients, FX, and credit trading. (Fintag)

Barclays willing to contemplate sale of BGI in its entirety. (Telegraph)

Windfall coming for BGI fund managers if sale goes ahead. (The Times)

Clawbacks coming to BarCap. (The Times)

Nomura prepared to move its HQ to London. (Financial Times)

Half the ML global economics team has disappeared. (Financial News)

UBS cutting 240 jobs from Asia Pac wealth management. (Bloomberg)

Each hedge fund manager may generate more than two jobs. (Guardian)

Is Standard Chartered the next Goldman Sachs? (The Times)

Libor falling fastest since January on credit revival. (Bloomberg)

Why investment bankers work hard. (Mergers and Inquisitions)

The more you worry, the longer you live. (Independent)

Popular job sectors


Search jobs

Search articles