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Shareholders Angry at UBS, Too
It was the heat of the moment.Shareholders around the world are putting their foot down when it comes to what they deem to be extravagant pay at banks. UBS is the latest bank to join the pack, already...
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Finance Industry Continues to Lay Off
The finance sector announced fewer layoffs in April than it did in March, but the outlook does not look bright for the embattled industry as banks continue to cut costs.Banks, brokerages and other...
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Handicapping the Buffett Succession
Last summer, as financial markets swooned following an unprecedented downgrade of U.S. debt, Ajit Jain got a chance to walk in Warren Buffett's shoes.Jain, who runs Berkshire Hathaway Inc.'s giant...
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Finance Sector Gained Only 1K Jobs In April
The finance sector added just 1,000 jobs last month, a heavy setback from March's gain of 15,000 jobs, according to the Bureau of Labor Statistics.The finance unemployment rate dropped to 5.5% in...
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Flush Times for Financial Advisers
Good tidings for financial advisers these days. Milwaukee-based firm Robert W. Baird & Co. will capitalize on its revenue results for 2011 and continue to hire financial advisers as part of an...
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Turnaround Time in London
The City jobs market is springing back slightly just in time for May. Job vacancies in London's financial services industry increased to 3,455, a 9% increase from March, the FT reports. The figure is...
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Hiring in Africa and Private Equity, Good Times for FAs
Tip: Turning Toward AfricaU.K. banking giant Standard Chartered will open 50 branches in sub-Saharan Africa in 2012, up from the 30 branches it had originally planned. That means it will need to hire...
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Where They've Landed: MF Global Employees Six Months Later
When Dan Whiteford worked at MF Global Holdings Ltd., he made sure trades cleared and tackled questions from the company's clients and trading desks.The firm's collapse last October forced him to look...
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New CEO for Freddie Mac
Freddie Mac is preparing to name Donald Layton, the former chief executive of online brokerage E*Trade Financial Corp., as its next CEO, according to people familiar with the matter.The company is...
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Trading the Street for Funds
A new trend is overtaking Wall Street. Traders who excelled at the biggest banks are finding their way to hedge funds and investment firms that can afford to compensate them the way they want.Nearly...
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Party at Nomura in the U.S.
Nomura may be pulling back in Europe, but it's doing no such thing in the U.S.The Japanese bank, which is set to move into new, larger office space in New York City in 2013, will hire more than 60...
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Don't Get Excited for City Bonuses
Break out your Adidas and turn up Nirvana. While job activity may be picking up in London, pay is projected to drop to levels not seen since the mid-nineties.City bonuses will plummet 48% to 2.3...
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'No Surprises,' J.P. Morgan Tells Troops After $2 Billion Loss
J.P. Morgan's top brass is trying to reassure employees the firm isn't going down the same unfortunate path other risk-loving banks have followed after disclosing a $2 billion trading loss generated by...
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J.P. Morgan's Drew, Two Others Out Over $2 Billion Loss
It's an ignomonious end to a 30-year career. Ina Drew, the head of the unit that caused a $2 billion trading loss at J.P. Morgan will resign, expected to leave as early as today, according to The Wall...
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Zames Replaces Drew at J.P. Morgan
It's official. The heads at J.P. Morgan have begun rolling over the $2 billion trading loss the firm announced last week.In a press release, the bank said that Ina Drew, the chief investment officer...
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Ten Things You Should Never Say in a Farewell Letter
Parting is such sweet sorrow, wrote William Shakespeare, but it doesn't have to be if you do it right.Bad farewells when you leave your job lead to crimped futures. Greg Smith, the ex-Goldmanite who...
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Hiring at Nomura, Hedge Funds and in London
Tip: Party at Nomura in the U.S.Nomura has its eyes set on U.S. expansion. The Japanese bank will hire more than 60 managing and executive directors for its investment banking unit within the next...
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It's Not About the Woman
When a woman fails on Wall Street, (Zoe Cruz, Sallie Krawcheck, Erin Callan), it's often tempting to draw sweeping conclusions about the evolution of women in the finance industry. Often, this approach...
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Former J.P. Morgan Risk Officer Takes Advisory Role
Irvin Goldman, who was replaced yesterday as chief risk officer of J.P. Morgan's Chief Investment Office, will stay on as an adviser to the new head of the CIO, the bank said. Following a $2 billion...
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French Banks Prepare to Lay Off
Those who want to keep politics out of the workforce may not have a choice.In the wake of the recent French election, in which Socialist candidate Francois Hollande bested Nicolas Sarkozy, French banks...
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