Russian investment bank VTB Capital will hire for its equities division in Dubai and expand its investment banking offerings.
The bank will provide M&A, equity and fixed-income trading and asset management services throughout the Middle East and Africa, Makram Abboud, chief executive officer of the region, told Bloomberg.
VTB Capital plans to provide advisory, mergers and acquisitions, equity and fixed-income trading, structured lending and asset management services throughout the Middle East and Africa, Abboud said.
"VTB Capital does not have the legacy issues that are impacting many other firms," he said. "We are able to grow our business at a time when many others are downsizing, reducing their capabilities and withdrawing from specific markets and businesses."
The firm has been on a hiring spree of late as it attempts to fashion itself into a global investment bank. In February, the bank said it would hire 200 bankers for offices in Singapore, New York and Hong Kong.
It's also been poaching from Deutsche Bank and Bank of America Merrill Lynch.
Some companies thought an open layout plan would foster transparency and interaction among employees. Then they thought better of it.
More Space, More People (Bloomberg via SFGate)
Morgan Stanley signed a lease for nearly 1.2 million square feet of space in lower Manhattan, an extra 337,000 more square feet than it currently has. A physical expansion nearly often denotes a personnel expansion.
Following the Master (Deal Journal)
Never forget people are apt to follow their rabbi. Ehren Stenzler, a co-head of U.S. M&A at UBS, is following Aryeh Bourkoff out the door. The duo may start their own firm.
Never Happily Ever After (WSJ)
Josef Ackermann thought he was leaving Deutsche Bank on a happy note, having put a succession plan into place everyone was OK with. Of course, everything went awry.
Citigroup may be hit with a lawsuit if Vikram Pandit refuses to give up his compensation for last year. Shareholders symbolically voted against his pay and may be angry enough to contest it legally.
More and more people are being forced to put their plans of marriage and children on hold due to massive student loans they need to pay off first.
Buzz Around the Office
Just Swimming Around (YouTube)
These otters look bewitched.
List of the Day: How to Approach a Job Search
1. Evaluate the company like a Wall Street analyst would.
2. Think beyond title and salary to longer-term concerns.
3. Ask yourself if this is really what you want to do.
(Source: CBS Money Watch)
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