Execution, the independent UK institutional brokerage, is adding to the excitement surrounding the UK corporate finance advisory/ cash equities sectors. According to the Financial Times, it has ambitious plans to grow headcount from 120 to 300 and to triple revenues by expanding its corporate broking and advisory business. The Financial News also reports that it has a more modest urge to supplement its equity sales and trading business with an additional eight people.
In a previous incarnation, Execution sought to lure staff with such dotcom craziness as in-office space hoppers and crazy golf. But the Financial Times says it is putting such things behind it and is becoming a "serious institutional franchise rather than a maverick outpost."
Average bonus at the FSA 8k, up 40% on 2008. (The Times)
RBS hires Antonio Polverino from BofA/Merrill. (Financial News)
UBS hires Rajeev Misra, formerly of Deutsche. (Credit Investment News)
Half of Lehman's Japanese investment bankers agree to forego job for life contracts. (Financial Times)
New outlet for quants: advertising. (ReformedBroker)
Anshu Jain: Complex derivatives are not dead. (Euromoney)
Blanchflower sees UK unemployment rising by 100k per month for the next year or so. (Bloomberg)
Secretaries and accountants are particularly happy at work. (Reuters)