Financial job market news Netherlands | Finance news for recruitment in the financial markets

Earlier this year, Guy Kawasaki, the US venture capitalist, made the following comment to the New York Times: “With investment banking, you make a lot of money, and you get a distorted feeling of how wonderful you are. You’ll be flying around in corporate jets and you’ll be attending board meetings, but you don’t really add value.” Guy’s not the only one levelling those accusations. It’s a common criticism of M&A... Read more

Investment banking businesses weren’t doing particularly well to begin with this year. European ECM revenues fell 42% between January and April, and European M&A fell to its lowest level since 2003 in the first quarter Until today, it seemed that ECM at least might perk up a bit after the UK election: earlier this week, The Times suggested that £15bn of IPOs were waiting in the wings. Not any more. Nor does... Read more

After a promising second half of 2009, equity capital markets (ECM) volumes in Europe have stalled in Q1 of this year. Is there a chance that investment banks may have prematurely staffed up in this area? Globally speaking, the ECM space looks relatively healthy – volumes have increased 67% year-on-year to stand at $189.2bn, according to figures from Dealogic. However, in Europe, revenues still look relatively diminutive - $693m was generated... Read more

Corporate broking isn’t the kind of career you can suddenly swap into. Desirable corporate brokers tend to hold solid relationships with the companies they advise on stock market listings and the like. This is unfortunate, as experienced corporate brokers are extraordinarily popular right now. According to some headhunters, anyone and everyone is looking for corporate brokers. “It’s a very hot market,” says the director of one search boutique. “Everyone is hiring... Read more

Monday was Clifford Sacks’ first day as Ceo South Africa and head of Pan-African equities for Renaissance Capital, the Russian investment bank that is expanding aggressively in emerging markets. Before joining RenCap, Sacks, who is South African, was co-Ceo for SA and Sub-Saharan Africa at BoA Merrill Lynch, a well-respected investment banker with twenty years’ experience and a deep knowledge of African equities. His task is to open and staff a... Read more

Everyone knows that Deutsche Bank has been doing a spot of recruitment in M&A: it hired more than a dozen M&A bankers from Merrill in May. Today, however, it became apparent that this was merely the tip of the iceberg. At today’s investor day presentation for the global banking division, Michael Cohrs displayed the following graphic outlining Deutsche’s profligacy: As a result of all this hiring (and as the graphic below shows),... Read more

For those in the know, referring to Commerzbank’s pay pot as its bonus ‘pool’ may seem misplaced: ‘puddle’ might be more appropriate; the bank’s not known for paying particularly well. This year, however, Commerzbank might pay some of its London bankers more than usual, and for reasons other than those laid out in its recent compensation document. There aren’t all that many former Dresdner Kleinwort bankers still left at... Read more

When we wrote a few weeks ago that long term unemployed bankers are now irreversibly excluded from the job market, something (or someone) was bound to disprove it. The high yield market is that thing. Over the past month, high yield hiring has gone wild. There have been senior additions everywhere from Bank of America (which has also hired in distressed debt sales and trading), to UBS, <a href=" http://www.credit-agricole.com/banking-:-account-bank-and-business-banking-171/press-releases-195/general-press-releases-203/calyon-appoints-youssef-khlat-as-global-head-of... Read more

If you that though the City jobs market was tough, spare a thought for those in Dublin. So scarce are front office opportunities, that increasing numbers are making their way to the UK in an attempt to secure a new position. The Irish financial sector's two largest employers in terms of wholesale banking – Bank of Ireland and AIB – have rolled out recruitment freezes scheduled to last until the end... Read more

At first glance, James Garvey’s incentive to join Lloyds’ wholesale banking unit looks fairly straightforward. According to Financial News, Lloyds is paying him £1m a year to run its capital markets business. However, on second glance, £1m doesn’t seem much for a former partner MD and ex-chairman of the debt capital markets business at Goldman Sachs. And nor does Lloyds seem a particularly auspicious place to earn it: it ranks... Read more

As the year progresses, ECM looks increasingly appealing. Between the first and second quarters European and US underwriting fees rose 238 and 267 percent respectively according to Dealogic. Most banks saw ECM revenues soar as a result. Much of this activity was down to banks’ own efforts to raise capital to repay TARP funds; IPOs remain subdued. However the big backlog of companies waiting to go public means that Breaking Views... Read more

After weeks of waiting patiently, we can now offer some insights into the state of the 2009 analyst bonus in IBD. UBS and Citigroup have both announced, and the numbers aren’t particularly pretty. However, it’s less painful than it might be because salaries have increased to compensate. According to persons specialized in the recruitment of analysts, bonus numbers at both banks are roughly similar as follows – • Analyst 1: £10-20k • Analyst... Read more

Fresh from yesterday’s revelations that Q2 is likely to be as bountiful as Q1, Sanford Bernstein analysts have issued a little table highlighting why it’s not worth getting overexcited, at least not in investment banking divisions. Yes, ECM is strong, but only when it comes to rights issues – IPOs were practically non-existent in Europe in the first half. Less promisingly, asset backed and mortgaged backed issuance are still a very,... Read more

A research note issued by Credit Suisse this week shines an interesting light on the way market share is shifting between investment banks. As the chart at the bottom of this page shows, there have been some big changes so far this year, and not all are expected. The biggest winner in terms of comparative market share for ytd 2009 vs. 2008 is BNP Paribas. The French bank has seen... Read more

Lloyd Blankfein (2008 compensation $43 million) thinks Wall Street needs to rethink the way financial people are compensated. What's needed, he says, are "basic standards." Among the guidelines the Goldman Sachs chief executive suggested in a speech to the Council of Institutional Investors: Only junior employees should be paid mostly in cash, and the percentage of pay that comes as company stock should increase along with a worker's pay. He also... Read more

Expansion into Africa is serving South African banks well and providing significant opportunities for employment. Standard Bank, the continent’s largest, has pursued the most active and successful African diversification strategy. In 2008 profit from its African operations increased by 46% to R1.8bn, a performance Standard Bank Ceo Jacko Maree has described as “unbelievable”. Determined to strengthen its footprint in the 16 countries outside South Africa it operates in and also... Read more

Yesterday, we said Cazenove appeared to have paid average bonuses of £66k last year. We were wrong. Although full year results, for the 'Total Cazenove Group' including JPMorgan Cazenove Holdings, imply cash bonuses of only £66k per head, payouts at JPMorgan Cazenove are accounted for separately and totaled £85m. According to The Times, this left the average JPM Caz banker with £128k in cash and stock bonuses, plus a salary... Read more

As increased volatility has sent clients flocking to their doors, spread-betting and contract for difference firms have been among the rare beneficiaries of the financial crisis. Unsurprisingly they’re looking to bolster their teams. Year-on-year, IG Group posted a 45% upswing in profits for the six months to the end of November, and its smaller rival London Capital increased its dividend after trading exceeded management expectations. “Whether you take a... Read more