The Week(s) Ahead

After JPMorgan's lackluster earnings report last Friday, analysts are expecting more of the same from Goldman Sachs, Citigroup, Bank of America and Morgan Stanley. While JPMorgan managed to hire 20,000 people and announce plans to hire more in 2012, that probably won't be the case for other firms.

The cutbacks that have taken place recently, whether at American giants like BofA or European firms like RBS and HSBC, are thought to indicate a much different cycle in the financial world.

Much of this retrenchment may become the new normal as banks trim staff to comply with regulatory mandates on return on equity and capital reserves. Bank of America, for example, is considering retreating from markets that aren't proving profitable. BofA had spent years expanding around the country.

"There is something of a permanent shift here," Douglas Elliott, a former investment banker-turned-think tank fellow, told the Journal. "This is a bit like what happened after the Great Depression. It will be harder to make a lot of money and therefore it gives an impetus for firms to reconsider and pull back."

Hang on to your berets, people, 2012 is already looking like it's going to be a bumpy ride.

From Ordinary to Wow (FINS)

Here's one HR director's take on how his firm, Marsh and & McLennan Companies, is amping up the Google-factor and toning down the boring-insurance factor.

Austrian Difficulties (Bloomberg)

Deutsche Bank will transfer its Austrian employees to larger offices in Frankfurt and London, according to a recent memo.

PE Hiring (PERecruit)

When it comes to hiring senior management, private equity firms are looking for trusted individuals who not only have a deep Rolodex, but a good reputation.

Do the Right Thing (DealBook)

Lloyds chief Antonio Horta-Osorio won't be taking a bonus for 2011, which ought to placate the British public. He had taken time off to deal with exhaustion but is now back in the saddle.

Keeping Their Cool (London School of Economics)

A new study finds that the most successful traders are in tune with their emotions, contrary to a popular belief that traders tend to ignore their feelings.

Bright Spots (FINS)

JPMorgan's earnings weren't stellar this quarter, but at least they're not planning to lay off thousands like their competitors. The firm is planning to hire for its branch network, too.

Tough Decisions (The Globe and Mail)

How do you balance your career and taking care of a sick parent? By applying a razor-like approach to both.

Buzz Around the Office