Die Affäre um den Skandaltrader der Société Générale Jérôme Kerviel scheint eine für die Mitarbeiter erfreuliche Wendung zu nehmen. Nachdem in 2008 bekanntgeworden war, dass der Franzose 4,8 Mrd. Euro der Bank verspielt hatte, war die Aktie des Bankenriesen abgetaucht und die Mitarbeiter wurden von Kunden teilweise wüst beschimpft. Damit mussten auch die Mitarbeiter mit Aktien bzw. aktienbasierten Bonusbestandteilen empfindliche Verluste einstecken.

Eine Aktionärsvereinigung der Mitarbeiter wollte dies nicht hinnehmen und klagte. Laut der Pariser Zeitung „Le Figaro“ einigte sich der Verein jetzt mit der Société Générale: Jeder der 1300 Mitglieder erhält eine Entschädigung von 10.000 Euro.

Bereits in 2010 hatte der Rechtsanwalt der Mitarbeiter Daniel Richard die Bank auf eine Entschädigung von 15.000 Euro verklagt. Daraufhin hatten zwei Kläger erstinstanzlich Recht bekommen und eine Entschädigung aufgrund der verschlechterten Arbeitsbedingungen von 2500 Euro erstritten. Dies genügte den Mitarbeitern jedoch nicht.

Laut „Le Figaro“ dürfte der Erfolg der Mitarbeiteraktionäre Begehrlichkeiten bei den übrigen 160.000 Mitarbeitern schüren, davon allein in Deutschland mehr als 3200. Damit könnten Kosten auf die französische Großbank von bis zu 1,6 Mrd. Euro zukommen.

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Liste der Dresdner Kleinwort-Banker: Was sie forderten, wo sie jetzt arbeiten und wer immer noch bei der Commerzbank ist

This week was the London School of Economics’ Alternative Investments Conference. As we’ve already reported, one hedge fund manager in attendance stood up and said students should be prepared to work 60 hour weeks for free, and a group of venture capitalists declared their industry almost impossible to get into.

Elsewhere, senior figures from the private equity (PE) industry were giving speeches about working in PE today. Unfortunately, their elements of the agenda were governed by Chatham House rules, meaning we can’t say who they were. We can report what they said and relate that they were very senior and that several middle aged men armed with Blackberries from rival firms were there to listen in.

Getting out of investment banking and into private equity is tough. There are 200-300 applicants for every place. Based upon what was said at the LSE this week, this is what you need to know.

1. It’s no longer just about making money, it’s about serving the client 

In the past, private equity businesses would raise funds by offering to generate huge returns. This has now changed. Today, funds are raised by talking to clients about the industries they’re interested in gaining exposure to, the risks they’re willing to take, the countries they want to invest in. Money raised is then allocated accordingly. This is a completely different approach to the past and it means that private equity businesses now employ swathes of senior client relations people and client-focused investment professionals who can create tailored solutions, whereas before they just had investment professionals who could spot a good deal.

2. It’s no longer just about making money, it’s about being good in the process  

In this new era of client-service, private equity funds are also beholden to clients’ request that they invest their money ethically. PE funds find themselves constrained by requests to only invest in companies that operate diversity policies or practice ethical sourcing. This is especially the case in emerging markets. It means that investment professionals’ role has been overlaid with a system of ethical due diligence.

3. It’s no longer about restructuring a company’s books to make money, it’s about operational improvements 

In the past, PE funds could make money by restructuring the finances of the companies they acquired. That’s no longer the case (“Those opportunities have been arbitraged away.”). Now, they need to make money by investing in a company and improving its operational efficiency in terms of procurement, cost structure and technology systems, for example. As a result, most funds have created large operational groups which work alongside investment professionals. These groups are increasingly important and look like a growing source of employment in PE firms.

4. It’s all about raising money from investors in Asia 

When the private equity industry was born, most of its money came from investors in the U.S. This changed as the industry pushed into Europe and European investors added their cash. Now, the big push is to raise funds from investors in Asia – especially Asian pension funds. If you have good Asian pension fund contacts, get in touch with a large PE fund: it is likely to be interested in employing you.

5. Africa is the future 

Africa is one of the last unconquered territories for the world’s international private equity funds. Some big funds already have Africa teams, but few have African teams on the ground (they operate from London). This is likely to change in the next few years, when PE professionals will be sent forth to find investments in Nigeria and elsewhere.

In case you didn’t know, Jamie Dimon is getting a pay rise for 2013. This is coming despite JPMorgan’s $20bn in fines and penalties for 2013 and despite the fact that all other JPM staff are reportedly having their pay held static to help cover the fines. So, what makes Jamie so deserving? Well…

1. The share price is at a record high 

JPMorgan’s share price has risen 20% since January 2013. Following a peak of 58.49 in January, it’s now 56.17 – higher than at any other time in the last five years.

2. JPMorgan is being unfairly persecuted and Jamie Dimon has had to bear the brunt of that

The New York Times says that a ‘vocal minority’ of JPMorgan’s directors wanted Jamie Dimon to be paid less and took time out to ‘pace up and down’ the corridor when it became clear they were going to be over-ruled. They were out-shouted by a more vocal majority who thought that Dimon needs to be compensated for taking the bank through a difficult time. There’s also a feeling that JPMorgan has been unfairly persecuted and that Dimon, as its figurehead, has been unreasonably vilified.

3. Even after those fines, JPMorgan’s return on equity was a sort-of-ok 9% 

Ok, JPMorgan’s return on equity fell from 11% to 9% last year, but that’s still not so bad when you consider that Morgan Stanley’s return on equity was 5% and that James Gorman has just had his deferred stock bonus increased 86% year-on-year.

4. He had his pay halved in 2012

Around this time last year, Dimon had his pay slashed by 50%. In 2011 he was paid $23.1m. In 2012 he was paid $11.5m. That cut was in response to the so-called ‘London Whale’ trading loss, which is now fading into the distantish past.

5. JPMorgan is still incredibly profitable 

Even after all those fines, JPMorgan still made a total of $17.9bn in profit last year. Ok, that was down from $21.2bn in 2012, but the bank was very, very comfortably in the black.

6. He’s reined-in risk taking 

JPMorgan looks like a far less risky place than previously. Value at Risk (VaR) across the bank was reduced by 66% year-on-year in 2013 and in the chief investment office which was ground zero for the Whale loss, it was cut by 93%. To cut risk so dramatically without hammering profits, whilst carrying a giant regulatory fine, is quite a feat.

7. Compensation is integral to his personality 

Jochen Gabrisch ist als Karriere- und Managementberater für Indigo Coaching tätig. In der individuellen Karriereberatung berät Gabrisch Finanzprofis auch zu Gehaltsverhandlungen.

Welches sind die häufigsten Fehler, die Bewerber bei Gehaltsverhandlungen machen?

Zu schnell mit Forderungen vorzupreschen – das Thema Gehalt wird vom Arbeitgeber angesprochen; einseitig auf das Gehalt zu fokussieren und andere Aspekte außer Acht zu lassen; sich nicht über die marktübliche Vergütung zu informieren und das eigene Nutzenversprechen bzw. Angebot nicht gut zu kennen oder nicht pointiert zu präsentieren.

Macht es Sinn, bei einer Bewerbung bzw. bei einem Vorstellungsgespräch ein um z.B. 10 Prozent höheres Ist-Gehalt anzugeben, um am Ende mehr zu erhalten?

Absolut nein, schon weil sich mancher Gesprächspartner vielleicht doch besser mit Gehaltsbandbreiten auskennt, als man vermutet. Zudem hat das Ist-Gehalt nur einen geringen Einfluss auf die Gehaltsgröße; entscheidend sind vielmehr der Nutzen, den der neue Mitarbeiter dem Unternehmen bietet, sowie interne und externe Benchmarks, beispielsweise die marktübliche Vergütung für eine bestimmte Funktion.

Wie geht ein Bewerber am Geschicktesten mit dem Thema um?

Am überzeugendsten für den zukünftigen Arbeitgeber ist eine solide Nutzenargumentation: „Welches Problem löse ich Dir? Welche Ziele kann ich für das Unternehmen erreichen? Welchen Mehrwert stifte ich dem Unternehmen?” Darüber hinaus ist es empfehlenswert, nicht einseitig auf das Festgehalt zu fokussieren, sondern unbedingt auch flexible Gehaltsbestandteile einzubeziehen und so das Vertrauen in die eigene Leistung zu signalisieren. Im Sinne einer Gesamtvergütung können auch Elemente wie Arbeitszeiten, Weiterbildungen, Nebenleistungen etc. in die Gehaltsverhandlungen einfließen.

Letztlich ist für die langfristige Zufriedenheit das Gesamtpaket entscheidend, also auch die Aufgabe, die Führungskraft, die Unternehmenskultur, das Unternehmensimage etc. Deshalb ist das Gehalt immer nur ein Baustein unter vielen und sollte zu den übrigen Komponenten individuell in einem ausgewogenen Verhältnis stehen. Eine persönliche Prioritätenliste schafft Klarheit: „Welche Komponenten sind mir besonders wichtig?”

Welche Gehaltssteigerung können Kandidaten bei einem Wechsel verlangen?

Das lässt sich pauschal nicht sagen, Klienten haben schon berichtet, dass sie ihr Gehalt bei einem Unternehmenswechsel annähernd verdoppelt haben. Aktuell gehen die Vergütungen im Finanzsektor allerdings teilweise sogar zurück und einige unserer Klienten verzichten auch freiwillig auf einen Gehaltssprung oder nehmen Einbußen bewusst in Kauf, um beispielsweise bei einem anderen Unternehmen eine günstigere Work/Life Balance zu erzielen.

Wie fällt dabei der Unterschied zwischen begehrten Profilen (z.B. IT oder Steuerexperten) und weniger begehrten Profilen aus?

Angebot und Nachfrage bestimmen den „Kurs” mit, so dass die eigene Qualifikation nicht den Ausschlag über die Höhe des Gehalts geben muss.

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Amongst the number of hurdles facing Wall Street – from capital requirements, to new trading rules, to its still-sullied global reputation – the most influential, at least over the long-term, may be its newfound inability to consistently attract top talent.

Each year, management consulting firm Oliver Wyman puts together a comprehensive report identifying the major “blind spots” that may impede growth in the banking sector. “Talent management” was right there in bold.

The case for why top-tier graduates are more interested in careers in technology and consulting is rather obvious. Compensation is down, political and media scrutiny has intensified, and compliance and risk management has become a bear. But the firm offers some real-world suggestions on how to make Wall Street a sunnier place to work, courtesy of the Wall Street Journal.

First proposal: take some talent management responsibilities away from human resources and hand them to senior leadership, making them more responsible for “talent outcomes” – i.e. turnover etc. Judging by our comment section, this would make aspiring bankers very happy.

One of the biggest problems on Wall Street is that the person on the bottom rung is, in essence, a tool for the people one or two rungs above. What do they care if you burn out? Putting leaders on the “first line” of talent management – and making them personally responsible for the metrics that go along with that – could be a significant help. Right now “nurturing talent” isn’t on many to-do lists. It’s toward the top in other sectors.

Other ideas include providing a greater variety of work experiences – something banks don’t often – and subjugating Wall Streets’ ego-driven culture (good luck).

The list is a good start, and one that’s certainly needed. Three top U.S. graduate schools – Harvard, Yale and Cornell – are seeing larger groups of graduates head to Silicon Valley over Wall Street. Just more than one-quarter of Harvard Business School grads took jobs in finance last year, down from 35% in 2012. Roughly 18% went into the tech field, up from 12% a year earlier. On the undergraduate level, consulting has overtaken finance as the top destination.

Sales & Trading Questions (eFinancialCareers)

We’ve collected a list of questions recently asked of business school students who have interviewed for sales and trading positions at large banks. Some are behavioral, but most are aimed to test your market knowledge. How would you do?

Flat Pay at JPM (Reuters)

Due to its lengthy legal bills, bonuses at J.P. Morgan are expected to remain relatively flat this year. Compensation expenses within investment and commercial banking will be down roughly 4%.

Bageled (Dealbreaker)

Analysts and associates at Credit Suisse reportedly received little more than a lump of coal in their bonus stocking. Meanwhile, bonus announcements in London have been delayed.

Double-Edged Sword (eFinancialCareers)

If you thought making it to managing director was the Promised Land, forget about it. “It doesn’t ease off, it goes the other way. Managing directors in investment banking last around 18 months.”

Banned (Reuters)

A judge has ruled that the Chinese affiliates of the Big Four accounting firms be barred from auditing U.S.-listed companies for six months for failing to hand over audit papers of Chinese companies . The firms plan to appeal and fill continue to practice.

Sentenced (Bloomberg)

A former Morgan Stanley employee in the bank’s finance department was sentenced to life in prison after being convicted of strangling his wife. Manas Kapoor was due to attend a disciplinary meeting at the bank the day the murder occurred.

PIMCO Set to Hire? (WSJ)

With former Chief Executive Mohamed El-Erian now retired, PIMCO founder Bill Gross is, yet again, eyeing a bigger push into equities. It sounds like the asset manager may be in need of additional staff.

Buzz Around the Office

Getting the Cold Shoulder (HuffPo)

Here’s video evidence why, as a national news reporter, choosing a snowball fight as a venue to talk weather patterns is a poor idea. At least Anderson Cooper enjoyed himself.

Quote of the Day: “People shouldn’t want us to be everything to everyone,” Chief Executive Officer Michael Corbat on his restructuring strategy.

If you want to make it to managing director at Morgan Stanley you will, if the class of 2014 is any sort of indicator, probably have to work in New York. You have a great chance if you work in an investment banking advisory function, but information technology is also a prime source of senior talent now.

We’ve analysed the new list of managing directors, released today by the bank, to determine which divisions they work in and where in the world they’re based. Just 27% of the 153 elevated to managing director are female, but this is decidedly better than 17.4% figure for 2013.

The charts below outline our research, and beneath that you’ll find as full a list of job titles as we’ve been able to uncover. There are some gaps, so if you have any tips, let us know.

Morgan Stanley’s managing directors 2014: 

Kristin Adams, global head of campus recruiting/global HR coverage for global capital markets/global HR coverage for technology division, New York

Melanie Bradshaw Ahearn, prime brokerage division, New York

Jeannine Vienna Ali, finance function, New York

Burak Alici, manages Global Discovery Fund, Morgan Stanley Investment Management, New York.

Lillian Amato, head of regulatory relationships, compliance division, New York

Vincent Andrews, research analyst, covering Agricultural Products, Agricultural Chemicals, and Packaged Food industries, New York

Daniele Antonucci, senior European economist, London

Rafael F. Arbulu, head of Peru, Ecuador, Central America and Carribiean Investment Banking Coverage, Peru

Masayoshi Asano

Andre Barros, chief operating officer for the Latin America region, New York

Leslie Kane Bazos, chief operating officer for global capital markets, New York

James Edward Beeston, prime brokerage, London

Rosalie Berman, capital markets, New York

Philip Blumberg

Kevin Bonebrake, investment banking division, Houston, Texas

Laura Bottega, portfolio specialist, global equity division, Morgan Stanley Investment Management, London

Kenneth Brady, New York

Andrea Brambilla

David A. W. Brand, head of short term product sales, London

Tim Breitenstein, real estate investing, Germany

Davide Brocato, head of bank deposit products, Morgan Stanley Smith Barney, New York

Stephen Cambor, global banking technology, global wealth management and capital markets, New York

Paul W. Casey, chief operating officer, private wealth management, New York

Raja Chatterjee, global head of anti-corruption and special investigations, New York

Christian A. Cheney, IST Industrials coverage, New York

Christina Chiu, real estate investment, New York

Michael Chung, private equity division, Asia, based in Korea

Edward D. Clementi, global head of institutional securities division model risk and control, New York

Dana Codispoti, global head of HR operations and business transformation, New York

Ira H. Cohen, senior investment banker, global technology group, New York

Pedro Costa, investment banking division, M&A, Brazil

Jonathan Costello, portfolio manager, Morgan Stanley Investment Partners, private equity fund group, New York

Michael Coyle, New York

Melissa M. Daniels, managing principal, Morgan Stanley Expansion Capital, private equity, New York

Patrick Delivanis, investment banking division, financial institutions group, Dubai

Cheryl Dennerlein, global leader of OTC fixed income operations and collateral management, New York

Stefano Diamantini, FX structured products, global capital markets, London

Daniel J. DiBiasio, head of new advisor hiring and development, wealth management, New York

Michael J. DiBiasio

Andrea Dowling, human resources, London

Timothy Drinkall, portfolio manager, frontier emerging markets strategy, Morgan Stanley Wealth Management, New York

Carlos Frederico Sobral Elias, head of Latin America cash/Delta one products, Brazil

Matthew Farlow, commodities CVA Europe and Asia, Singapore

Yann Michel Richard Folloroux

Sharon Lesley Freach, information technology, New York

Susan Galletto

John Gally, par loan trader, New York

Rupesh Gardner, electronic trading, New York

Richard L. Gengenbach, information technology, New York

Manpreet Singh Grewal, head of single stocks exotics trading, Europe, based in London

David Harding, technology and data COO, London

Daniel Hayden, head of legal coverage for institutional equities, global capital markets corporate derivatives, Hong Kong

Shannon Hirai, Asia head of production management, Japan

Yoav J. Hirsch, global head of algorithmic trading technology, New York

Edward P. Hodgson

Karsten Hofacker, Morgan Stanley Smith Barney, London

Scott Honey, exotics trader, New York

Eric Hopp, investment banking, financial institutions group, New York

Matthew T. Hornbach, global head of interest rate strategy, New York

Diane Hosie, Morgan Stanley Investment Management, London

Hilary Irby, head of investing with impact initiative, private equity, New York

Jean-Marc V. Jabre, mid-market private equity, London

John Jachimowicz, real-time market data (information technology), New York

Nitin Jindal, commodities trading, New York

Derek Johnson

Vitaly Kagan, global head of CVA technology, New York

Oliver Kehren, project management, London

Shawn Young Chan Kim, head of South Korea research, Korea

Matthew King, global infrastructure fund management, New York

Chris Kovel, manager of advisory product services and client intelligence practice (information technology), New York

Mathias Kramer, Morgan Stanley Smith Barney, New York

Julia M. Kubis, operations risk and control, London

Dong-Jun John Lee, New York

Peter Lee

Simon Ho Yin Lee

Daniel Alexander Lewis, equity capital markets, London

Cara Y. Li, real estate, Hong Kong

Vadim Lisak, head of New York rates derivatives and global emerging markets technology, New York

Stephen Lloyd, internal audit, institutional securities, New York

Mark Looker, global head of enterprise computing service, London

Susan Ludwigson, international tax planning and compliance, New York

Martin Heinrich Luehrs, capital markets, debt syndicate and leveraged finance, London

Gary Lynn, product control and financial director for credit within fixed income division, New York

Jon Mackay, senior fixed income strategist, Morgan Stanley Wealth Management, New York

Isabel Mahony, head of financial and sterling credit trading, London

Shaw Margulies

Joan C. Marron, head of not-for-profit healthcare investment banking, New York

Joseph A. Martino

Jonathan Martland, London

Damien C. Matthews, corporate interest rate and foreign exchange risk management, New York

John J. McGrory, head of Glasgow operations/global head of prime brokerage/head of EMEA branch and banking operations

Thiago A. Melzer, head of foreign exchange options – Americas, New York

Francois Meunier, technology equity research, London

Christopher J. Morser, head of alternative investment partners hedge fund solutions group, New York

Paul Mouchakkaa, investment banking, Los Angeles

Takanori Nagasaka

Siddhart Srikant Nahata, healthcare investment banking, London

Armistead Nash, growth team, Morgan Stanley Investment Management, New York

Kathleen Naughton, global head of events and conferences, New York

Michael Newby, head of country compliance for Asia Pacific, Hong Kong

Jason B. Noble, investment banking, New York

Carl-Johan O. Nordberg, investment banking, New York

Michael John O’Byrne, equity capital markets, London

Owen O’Keeffe, technology M&A, San Francisco

John O’Meara, research, New York

Jeanne Greeley O’Regan, deputy corporate secretary, legal and compliance division, New York

Michael O’Sullivan, institutional equity sales, New York

Patricia E. Pagoaga, Morgan Stanley Smith Barney, New York

Allison Patton, Morgan Stanley Smith Barney

Filipe Rodrigues Rocha Pereira da Silva, Spain coverage investment banking, Madrid

Franco Piarulli, head of portfolio advisory services, Morgan Stanley Wealth Management, New York

Maureen A. Pierpont, New York

Manoj Pradhan, economist and strategist, London

Mayank Prakash, head of global wealth and investment management technology, India

Amol Prasad, trader, New York

Susan Reid, head of HR coverage for asset management, New York

Aryasomayajula Sekhar, global head of market risk, analytics and securitised product trading, New York

Andrey Sergeev, Russian coverage, investment banking, Moscow

Emily Shelton, Morgan Stanley Smith Barney, New York

Takashi Shida

Gaurav Shukla, head of strategy and business development, international wealth management, New York

Louise Singlehurst, equity research, retail, London

William John Harris Smith, European head of capital introductions, prime brokerage, London

Scott M. Steel

Susan Stein

Roy Swan, corporate treasury, New York

Shuma Takita, Morgan Stanley MUFG Securities, Japan

Scott Taylor, head of loan portfolio analytics, New York

Michelle G. Teitsch, equity research, North America, New York

Cindy Tse, risk management, New York

Christopher Tynan, investment banking, Australia

Kaori Umezu, investment banking, Japan

Kara R. Underwood, talent management, wealth management, New York

Robert Urgo, investment banking, New York

Richard VanderMass, fixed income, New York

Peter Vasiliadis, head of operational due diligence, Morgan Stanley Alternative Investment Partners, New York

Robert Vesey, Morgan Stanley Smith Barney, New York

David Villedieu, capital markets, France

Jeffrey Voight, New York

Sarah Walker, securities reference data and EOD pricing data management (information technology), London

Harry T. Walters, co-head of wealth management litigation, Morgan Stanley Smith Barney

Mika Watanabe, head of corporate communications, Japan

Stephen Whitbread, compliance and legal, London

Sterling C. Wilson, technology investment banking, San Francisco

Valerie Wong, chief of staff, office of the chairman and CEO, New York

Adam Wood, research analyst, technology, New York

Victoria Worster, head of international accounting standards and control, London

David A. Wright, foreign exchange, London

Rong Xie, China corporate sales, Hong Kong

Masaki Yano, investment banking, Japan

Sharon Yeshaya, New York

Sajid Zaidi, head of global collateralised loan obligations, New York

Alex Zhou, general manager private equity investment, China

Banking is an industry where money talks. Although most bankers have far less money to articulate with than previously, some can still make the average annual salary in a few days. In the circumstances, it’s inevitable that a handful will pay handsomely to better themselves.

Senior bankers are paying people to write their CVs, to polish their LinkedIn profiles, to teach them foreign languages and to appease their existential anxieties. The going rate is $500 per hour, plus.

“Senior bankers who come to me on a private basis are typically interested in help with one of three things: career transition, creating some meaning and purpose in their lives or preventing burnout,” says Graham Ward, a top coach who used to be co-head of the European equities business at Goldman Sachs and is now Coaching Practice Director at the INSEAD Leadership Centre. “People will sometimes hire a coach because they’re not sure whether they want to continue in their careers  – they might not find their job meaningful any more, or they might be looking for some balance,” he adds.

Ward does most of his coaching at board level and one rung below. He’s currently coaching an unnamed banking CEO, with whom he interacts virtually. In cases of “situational emergency” Ward says he has offered advice to senior bankers in cars en-route to airports. His technique involves a mixture of psychology and business advice. “People like the fact that I have a banking background and psychological training,” he reflects.

When it comes to adding meaning, Ward says he encourages his clients to look the intersection between what they’re really good at and what they really value.”Very often, people will become very good at something like trading, but to find meaning and purpose in your life you need to find out not only what you’re good at but where your values like and what’s important to you,” he says.

In many cases, Ward’s services are paid for by the company itself. But in others, senior bankers will hire him privately and although Ward declined to say how much he charges, it’s understood that his services do not come cheaply at all.

Nor is it not only senior banking professionals who will pay for betterment. Matt Bardin, a tutor famous for charging $600 an hour for teaching the children of wealthy parents, says his services are also used by junior bankers seeking help with the GMAT exam ahead of their MBA application. He too delivers his teaching by Skype: “We help people to become more efficient in their learning,” Bardin explains.

In London, Angela Abramson of Quintessentially Education counts various bankers and their wives among her clients. “We offer a kind of life tutoring for people who’ve just moved to London and want to know the history of the city,” she explains. “We also offer language tuition, both to people working in the finance industry and to their spouses.” Abramson’s tutors charge anything from £60 to £500 an hour.

More prosaically, people with banking careers can be found paying for résumé writing and LinkedIn profile assemblage. Financial services professionals are time-poor, says Victoria MacLean, a former Goldman Sachs recruiter who founded London-based City CV. Left to their own devices, MacLean says they often produce résumés with, ”silly typos and spelling errors and over use of clichés.” Her clients range from graduates to MDs. “We get quite a few directors who want help with CVs that will bring them up to MD level,” MacLean says. Her fee? £199 to £399 for a CV. £100 for a profile on LinkedIn.

Die Liste der neuen Managing Directors der US-Investmentbank ist heraus. Immerhin 153 Mitarbeiter wurden in 2014 befördert, wovon 27 Prozent Frauen sind. Wir haben untersucht, aus welchen Geschäftsbereichen und von welchen Standorten die frisch ernannten Managing Directors stammen.

So viel scheint schon einmal klar zu sein: Während in New York die Sektkorken knallen, dürften in Frankfurt die Taschentücher herumgereicht werden. Denn nur einer der neuen MDs stammt aus Deutschland: Tim Breitenstein, der im Immobiliengeschäft arbeitet. Allerdings gibt es in der Liste noch Lücken. Wenn Sie also weitere Informationen haben, dann können Sie sie uns gerne mitteilen.

Hier die Liste der Auserwählten

Kristin Adams, Global head of campus recruiting/global HR coverage for global capital markets/global HR coverage for technology division, New York

Melanie Bradshaw Ahearn, Prime brokerage division, New York

Jeannine Vienna Ali, Finance function, New York

Burak Alici, Manages Global Discovery Fund, Morgan Stanley Investment Management, New York.

Lillian Amato, Head of regulatory relationships, compliance division, New York

Vincent Andrews, Research analyst, covering Agricultural Products, Agricultural Chemicals, and Packaged Food industries, New York

Daniele Antonucci, Senior European economist, London

Rafael F. Arbulu, Head of Peru, Ecuador, Central America and Caribbean Investment Banking Coverage, Peru

Masayoshi Asano

Andre Barros, Chief operating officer for the Latin America region, New York

Leslie Kane Bazos, Chief operating officer for global capital markets, New York

James Edward Beeston, Prime brokerage, London

Rosalie Berman, Capital markets, New York

Philip Blumberg

Kevin Bonebrake, Investment banking division, Houston, Texas

Laura Bottega, Portfolio specialist, global equity division, Morgan Stanley Investment Management, London

Kenneth Brady, New York

Andrea Brambilla

David A. W. Brand, Head of short term product sales, London

Tim Breitenstein, Real estate investing, Deutschland

Davide Brocato, Head of bank deposit products, Morgan Stanley Smith Barney, New York

Stephen Cambor, Global banking technology, global wealth management and capital markets, New York

Paul W. Casey, Chief operating officer, private wealth management, New York

Raja Chatterjee, Global head of anti-corruption and special investigations, New York

Christian A. Cheney, IST Industrials coverage, New York

Christina Chiu, real estate investment, New York

Michael Chung, private equity division, Asia, Südkorea

Edward D. Clementi, Global head of institutional securities division model risk and control, New York

Dana Codispoti, Global head of HR operations and business transformation, New York

Ira H. Cohen, Senior investment banker, global technology group, New York

Pedro Costa, Investment banking division, M&A, Brasilien

Jonathan Costello, Portfolio manager, Morgan Stanley Investment Partners, private equity fund group, New York

Michael Coyle, New York

Melissa M. Daniels, Managing principal, Morgan Stanley Expansion Capital, private equity, New York

Patrick Delivanis, Investment banking division, financial institutions group, Dubai

Cheryl Dennerlein, Global leader of OTC fixed income operations and collateral management, New York

Stefano Diamantini, FX structured products, global capital markets, London

Daniel J. DiBiasio, Head of new advisor hiring and development, wealth management, New York

Michael J. DiBiasio

Andrea Dowling, Human resources, London

Timothy Drinkall, Portfolio manager, frontier emerging markets strategy, Morgan Stanley Wealth Management, New York

Carlos Frederico Sobral Elias, Head of Latin America cash/Delta one products, Brazil

Matthew Farlow, Commodities CVA Europe and Asia, Singapur

Yann Michel Richard Folloroux

Sharon Lesley Freach, Information technology, New York

Susan Galletto

John Gally, Par loan trader, New York

Rupesh Gardner, Electronic trading, New York

Richard L. Gengenbach, Information technology, New York

Manpreet Singh Grewal, Head of single stocks exotics trading, Europe, based in London

David Harding, Technology and data COO, London

Daniel Hayden, Head of legal coverage for institutional equities, global capital markets corporate derivatives, Hongkong

Shannon Hirai, Asia head of production management, Japan

Yoav J. Hirsch, Global head of algorithmic trading technology, New York

Edward P. Hodgson

Karsten Hofacker, Morgan Stanley Smith Barney, London

Scott Honey, Exotics trader, New York

Eric Hopp, Investment banking, financial institutions group, New York

Matthew T. Hornbach, Global head of interest rate strategy, New York

Diane Hosie, Morgan Stanley Investment Management, London

Hilary Irby, Head of investing with impact initiative, private equity, New York

Jean-Marc V. Jabre, Mid-market private equity, London

John Jachimowicz, Real-time market data (information technology), New York

Nitin Jindal, commodities trading, New York

Derek Johnson

Vitaly Kagan, Global head of CVA technology, New York

Oliver Kehren, Project management, London

Shawn Young Chan Kim, Head of South Korea research, Korea

Matthew King, Global infrastructure fund management, New York

Chris Kovel, Manager of advisory product services and client intelligence practice (information technology), New York

Mathias Kramer, Morgan Stanley Smith Barney, New York

Julia M. Kubis, Operations risk and control, London

Dong-Jun John Lee, New York

Peter Lee

Simon Ho Yin Lee

Daniel Alexander Lewis, equity capital markets, London

Cara Y. Li, Real estate, Hong Kong

Vadim Lisak, Head of New York rates derivatives and global emerging markets technology, New York

Stephen Lloyd, Internal audit, institutional securities, New York

Mark Looker, Global head of enterprise computing service, London

Susan Ludwigson, International tax planning and compliance, New York

Martin Heinrich Luehrs, Capital markets, debt syndicate and leveraged finance, London

Gary Lynn, Product control and financial director for credit within fixed income division, New York

Jon Mackay, Senior fixed income strategist, Morgan Stanley Wealth Management, New York

Isabel Mahony, Head of financial and sterling credit trading, London

Shaw Margulies

Joan C. Marron, Head of not-for-profit healthcare investment banking, New York

Joseph A. Martino

Jonathan Martland, London

Damien C. Matthews, Corporate interest rate and foreign exchange risk management, New York

John J. McGrory, Head of Glasgow operations/global head of prime brokerage/head of EMEA branch and banking operations

Thiago A. Melzer, Head of foreign exchange options – Americas, New York

Francois Meunier, Technology equity research, London

Christopher J. Morser, Head of alternative investment partners hedge fund solutions group, New York

Paul Mouchakkaa, Investment banking, Los Angeles

Takanori Nagasaka

Siddhart Srikant Nahata, Healthcare investment banking, London

Armistead Nash, Growth team, Morgan Stanley Investment Management, New York

Kathleen Naughton, global head of events and conferences, New York

Michael Newby, Head of country compliance for Asia Pacific, Hongkong

Jason B. Noble, Investment banking, New York

Carl-Johan O. Nordberg, Investment banking, New York

Michael John O’Byrne, Equity capital markets, London

Owen O’Keeffe, Technology M&A, San Francisco

John O’Meara, Research, New York

Jeanne Greeley O’Regan, Deputy corporate secretary, legal and compliance division, New York

Michael O’Sullivan, Institutional equity sales, New York

Patricia E. Pagoaga, Morgan Stanley Smith Barney, New York

Allison Patton, Morgan Stanley Smith Barney

Filipe Rodrigues Rocha Pereira da Silva, Spain coverage investment banking, Madrid

Franco Piarulli, Head of portfolio advisory services, Morgan Stanley Wealth Management, New York

Maureen A. Pierpont, New York

Manoj Pradhan, Economist and strategist, London

Mayank Prakash, Head of global wealth and investment management technology, India

Amol Prasad, Trader, New York

Susan Reid, Head of HR coverage for asset management, New York

Aryasomayajula Sekhar, Global head of market risk, analytics and securitised product trading, New York

Andrey Sergeev, Russian coverage, Investment banking, Moskau

Emily Shelton, Morgan Stanley Smith Barney, New York

Takashi Shida

Gaurav Shukla, Head of strategy and business development, international wealth management, New York

Louise Singlehurst, Equity research, retail, London

William John Harris Smith, European head of capital introductions, prime brokerage, London

Scott M. Steel

Susan Stein

Roy Swan, Corporate treasury, New York

Shuma Takita, Morgan Stanley MUFG Securities, Japan

Scott Taylor, Head of loan portfolio analytics, New York

Michelle G. Teitsch, Equity research, North America, New York

Cindy Tse, Risk management, New York

Christopher Tynan, Investment banking, Australien

Kaori Umezu, Investment banking, Japan

Kara R. Underwood, Talent management, wealth management, New York

Robert Urgo, Investment banking, New York

Richard VanderMass, Fixed income, New York

Peter Vasiliadis, Head of operational due diligence, Morgan Stanley Alternative Investment Partners, New York

Robert Vesey, Morgan Stanley Smith Barney, New York

David Villedieu, Capital markets, Frankreich

Jeffrey Voight, New York

Sarah Walker, Securities reference data and EOD pricing data management (information technology), London

Harry T. Walters, Co-head of wealth management litigation, Morgan Stanley Smith Barney

Mika Watanabe, Head of corporate communications, Japan

Stephen Whitbread, Compliance and legal, London

Sterling C. Wilson, Technology investment banking, San Francisco

Valerie Wong, Chief of staff, office of the chairman and CEO, New York

Adam Wood, Sesearch analyst, technology, New York

Victoria Worster, Head of international accounting standards and control, London

David A. Wright, Foreign exchange, London

Rong Xie, China corporate sales, Hongkong

Masaki Yano, Investment banking, Japan

Sharon Yeshaya, New York

Sajid Zaidi, Head of global collateralised loan obligations, New York

Alex Zhou, General manager private equity investment, China

If you’ve missed the top stories on eFinancialCareers over the past week, here’s your chance to catch up. These are our best read articles of the last seven days.

The five biggest resume mistakes that financial executives make

Here’s how not to look stupid on paper as a senior financial services professional.

Psychological techniques for persuading a boss that your bonus is inadequate

Disappointed with your payout this year? Here’s how to use the subtle art of manipulation to ensure you get more.

Key takeaways from Goldman, JPM, Morgan Stanley, Deutsche, BofA and Citi’s results on hiring and pay for 2014

What are the priorities (and potential areas for shrinkage) within the large U.S. investment banks.

What wealth-addict Samuel Polk didn’t say in his NYT article

It’s not east to walk away from a high-paying finance role if you have a trophy wife.

11 things Goldmanites have said that you (may) actually agree with

The anonymous Goldman tweeter isn’t all about crass comments; he also imparts some pearls of wisdom.

How to get out of bed at 4.15am for the entirety of your career

Is it really necessary to rise at an ungodly hour in order to be successful in a financial career?

Investment banks’ tendency to fire veterans and hire juniors is coming back to bite

If you consider yourself a ‘veteran’ of investment banking, beware…

Work for free, do 60+ hours a week, and other expert tips for success in hedge funds, private equity and investment banking

60 hours a week for investment banking analysts is the absolute bare minimum, not the secret to success.

The real lesson for bankers from the Wolf of Wall Street

Integrity is a vacuous concept in the financial sector.

The two points in your investment banking career when you’re most likely to crash and burn

There are two crucial times in your career, and both are not good for your mental and physical well-being.

In a bid to stand out from the deluge of identikit applicants for finance roles these days, it may be worth putting your head above the parapet and trying something bold. Pitched right and trying something unusual could help distinguish your application, but present it in the wrong way and it’s likely to backfire.

In investment banking, two cases show how bold moves can, and cannot, work. A seemingly stupid covering letter from a student applying for an investment banking internship, was eventually heralded as a bold attempt to stand out from the herd. The student said they wouldn’t go about “feeding you a line of crapp [sic] about how my past experiences and skill set align perfectly for an investment banking internship. The truth is I have no unbelievably special skills or genius eccentricities, but I do have a near perfect GPA and will work hard for you”. He got some interviews, at least.

Then there was (now-deceased) Aleksey Vayner’s 2006 video resume ‘Impossible is Nothing’ in which he attempted to secure a job with UBS’s investment bank by his prowess at pumping iron, skiing (including jumps), ballroom dancing, karate – and career advice – which was leaked by an HR team member and went viral. He didn’t get this (or any) investment banking job.

Career advisors suggest two things when attempting to be bold during your job application – a) actually be good and b) don’t go too far out on a limb. Here are seven tips for success.

1. Take control, but be specific

If you’ve got the guts to do it, try to take control of an interview. It will allow you to sell yourself effectively without waiting for the right question to crop up, says Jeremy I’Anson, a careers coach who works with investment bankers.

“One candidate asked at the start of the interview what were the key things they were looking for in the new recruit,” he says. “He listened, and then spent the next half an hour listing how his qualities matched the requirements, with supporting examples, stats and anecdotes to support his claims. The interview was short, it was structured and he was quickly offered the job.”

2. Get personal

At the very least, you’ll be given the name or names of the people interviewing you – find out as much as humanly possible about them, and mention it at the earliest opportunity, says Simon North, founder of career coaches Position Ignition.

“It’s basic research, but it shows authenticity and that you’ve focused on the person not just the company for a decent amount of time. Knowing that this person moved from, say, JPMorgan a couple of years ago and asking about their motivations for doing so, is a key way to show that the job search isn’t just about you,” he says.

3. Get speculative

In the age of social media, it’s never been easier to gain access to key decision makers within large organisations and you should take every opportunity to interact, says I’Anson. “60-70% of jobs are never advertised – find a way to get in touch with someone, even if it’s just interacting on Twitter.” Be smart, and stay polite, however. This is an alternative to simply turning up at the office uninvited, which career coaches do not recommend.

4. Be honest

Presented with an interview question you patently don’t know the answer to will only result in five minutes of fudging and skirting around the issue to give some sort of answer. Financial services firms throw in tricky interview questions all the time, don’t be afraid to admit you don’t know the answer. Morgan Stanley supposedly asked “Can you spell ‘diverticulitis?” to one candidate, who simply answered ‘no’ and still got the job.

5. Use technology, but be subtle

Despite the ‘Impossible is Nothing’ fiasco, more juniors will have to produce an online video to stand out from the legions of “grey” young candidates with little experience to distinguish themselves, says North.

“This is not your CV, but nor does it need to be an exercise in narcissism,” he says. “Outline something about yourself that you might talk passionately about while out for a drink in a bar. Your gap year and the leadership skills you learned, or your commitment to the hockey team to demonstrate your stickability – banks want people who will stay in the industry for the long term and can demonstrate authenticity.”

6. Big up personal connections

Nepotism within investment banking may be frowned upon, even if Goldman Sachs’ CEO Lloyd Blankfein says it’s a fact of life, but it will ensure you have some sort of champion within the organisation. “Ultimately, getting into banking is about a cultural fit and having someone vouch for you in an informal basis is a good way of getting ahead of the pack,” says Andrew Pullman, founder of consultancy People Risk Solutions and a former head of HR at Dresdner Bank.

7. In public, everyone is a potential lead

So many students looking for work in financial services have turned up in the financial district sporting a placard and handing out CVs to passers by in the hope of securing a job, that it’s no longer considered much of a novelty. It is, however, still generally respected as being a gutsy way to put yourself out there. Expect various reactions, from mocking to support and advice, but always stay positive, advises, Faraaz Kaskar, a Leicester University student who pulled the move in 2012.

“You got the occasional person taunting you, saying stuff like ‘I have a job and you don’t’, but the majority of people we met were really supportive. I handed out CVs to people and from there went on to a few interviews, but aside from that, people were offering advice and support and encouraging us to keep in touch with them,” he says.

The Romanians are coming in their droves. They will be renting flats in the Docklands, buying tailored suits and going skiing in Verbier. They are here to take the jobs of the British bankers who want to work 10-hour days and take alternate weekends off. You have been warned.

This is the gist of a surprise press release from Will Davies, a former M&A banker at SocGen who’s set up a property maintenance company called aspect.co.uk.  ”Britain is in for a rude awakening with the flood gates now open and Bulgarians and Romanians taking not just DIY jobs but also jobs in the City of London,” warns Davies. “If we don’t roll our sleeves up and start competing they will surprise everyone and take the top jobs off us as well.”

Is Davies exaggerating? Last week, the Daily Mail reported that a mere 24 Romanians had flooded into the UK since border controls were relaxed on January 1st. Statistics from Germany suggest that immigrants from Bulgaria and Romania tend to be less qualified than immigrants from other EU countries.

However, Davies isn’t entirely incorrect. A quick check suggests there are already plenty of people with ties to Romania and Bulgaria working in the City. Take Irina Ionescu – a technology analyst at Goldman Sachs, Yoana Nenova – an investment banking analyst at UBS, or Martin Nachev – an FX support analyst at BNP Paribas.

Predictably the Romanians and Bulgarians occupying City jobs aren’t the stereotypical migrants arriving at Victoria Coach Station – they’re highly educated, multi-lingual and have typically attended universities in the US or London, or both. To that extent they’re no different to the other non-Britons who work in the City. Figures from the Office of National Statistics imply that 60% of front office bankers in London aren’t British. A few extra Bulgarians and Romanians aren’t going to make much difference.

Very sadly, a 39 year-old JPMorgan banker fell from the roof of the bank’s office in Canary Wharf this morning.

The unidentified man is said to have fallen slightly before 8am and to have landed on a 9th floor roof. JPMorgan has said that it’s reviewing a very sad incident at 25 Bank Street. Scotland Yard has said it’s not treating the man’s death as suspicious.

Speaking on Twitter, Canary Wharf-based workers commented that the body was left uncovered for up to two hours while emergency workers responded.

In 2006 a man died after falling from a balcony at Citigroup’s office in Canary Wharf. In 2010, a Citi employee reportedly jumped to his death from an internal balcony. Our thoughts are with the man’s family.

Every year since the crisis, one of Wall Street’s top executives tells the world to quit it with all the banker-bashing. And every year, like clockwork, they get publicly roasted for their comments. UBS chief executive Sergio Ermotti needed just a few weeks into 2014 to earn his place on the mantle.

Speaking at the World Economic Forum in Davos, Switzerland, Ermotti said that all the vitriol aimed at the industry is counter-productive to moving beyond years of scandal. “Life is hard enough, and I think this constant lecturing on ethics and on integrity by many stakeholders is probably the most frustrating part of the equation,” he told the Wall Street Journal. “We are far from being perfect…but it’s not going to be very helpful to be constantly bashing banks.”

Ermotti then boldly stepped beyond banking as an industry and talked specifically about what he feels is an unfair standard being held against UBS. “When I look around, I don’t think there are many banks that can come to us and say they are the example that should be followed,” he said.

Bold indeed. Others before him – namely Jamie Dimon and Bob Diamond – took heat for calling out critics of banking, but others fell short of isolating “stakeholders” and pointing to the faults of other firms. Ermotti seems to be calling out friends and foes alike.

The backlash, at least from those who cover banking, has been swift, and rather sarcastic. “Cue the tiny violins” was the lede in MarketWatch. “Sniff. Sniff,” said the Consumerist.

Whether he’s right or not – and he may be – Ermotti is stepping out on a shaky limb. You may remember Bob Diamond’s infamous words, uttered a year before Libor: “There was a period of remorse and apology for banks. That period needs to be over.” Diamond heard those words on playback during the aftermath of the rate-fixing scandal.

Answering Tough Interview Questions (eFinancialCareers)

While banking and finance interviews are typically littered with technical industry questions, it’s the more generic inquiries that tend to trip people up. Here are six common interview questions along with strategies on how to respond to them.

Gaming Your Way Into a Job (eFinancialCareers)

Having trouble finding a banking job the old-fashioned way? Here are seven finance-related competitions that may help open the door just a crack.

Waiting Around (Financial News)

An interesting phenomenon is happening in Europe as banks look to introduce allowance payments to make up for the effects of impending bonus caps. Bankers are waiting around for the allowances before jumping to rival firms. Talent poaching has slowed as a result.

Winston Opening U.S. Shop (FIN Alternatives)

Winton Capital Management plans to open its first U.S. office in New York later this year. The quant firm will start the new office with marketing hires.

Employment Suit Settled (WSJ)

J.P. Morgan has settled a lawsuit with a former right-hand man of CEO Jamie Dimon. Frank Bisignano left the bank for KKR-owned payment processor First Data, then quickly hired away two J.P. Morgan executives. Bisignano’s contract said he wasn’t allowed to poach former co-workers for a full year.

RIP (Bloomberg)

H. Frederick Krimendahl II, who spent more than three decades as a Goldman Sachs exec, died last week. Krimendahl had a range of duties over the years, including finding the firm’s London office. He was 85.

Front-Running Probe (Reuters)

Bank of America is being investigated for potentially illegal trading practices. Investigators are looking into whether swaps traders were front-running their own trades ahead of executing other large orders for clients.

Buzz Around the Office

Priorities (ABC)

A Kansas man whose house caught on fire heroically ran back into the burning building to save his…Xbox. Sadly, it’s a better story than the Georgia man who helped his family escape a house fire only to run back in to grab his Bud Light.

Quote of the Day: “If you precluded yourself from hiring any kid that was affiliated with somebody or whose parent was an important official or important industrialist or executive, you wouldn’t have very many people left.” – Goldman Sachs CEO Lloyd Blankfein, commenting on potential conflicts of interest in hiring.

If you want a new job in banking, you have a few options – you can apply through recruiters, apply directly, upload your CV to our own CV database, or network like crazy.  If you’re truly persistent and charming, you can even go for the cold-calling option.

Whether you want to try the latter option or not, it will usually help if you know something about the key people in the business you’re applying to.

To this end, we’ve assembled the following list of key names that you ought to know if you’re applying for (predominantly front office) jobs at Barclays, Deutsche, Goldman Sachs or JPMorgan.

The list below isn’t prescriptive. Nor is it exhaustive – there are far more than 25 key decision-makers at each of these banks. We’ve tried to avoid the best known public figures at each bank and to provide you with names that are less publicly available. The list errs in favour of equities and M&A. If you have any names to add or corrections to make, please add them to the comments box at the bottom of this page. Let us know if you find this helpful and will follow with similar lists for other key banks soon.

25 names you need to know at Barclays

1. Joe Corcoran – Global head of equities at Barclays. (NY)

2. Bill White - Head of equities electronic trading at Barclays.  (NY)

3. Jonathan Beebe – Head of equities for Europe at Barclays. (London)

4. Nick Wright – Head of equities for Asia Pac at Barclays. (HK)

5. Richard Cunningham – Global head of equities sales at Barclays. (NY)

6. Corinne Grain – EMEA head of equities sales at Barclays. (London)

7. Ester Li -  Barclays’ head of generalist equities sales at Asia ex-Japan. (HK)

8. Will Tovey – Barclays’ head of European cash equities product sales. (London)

9. Richard Evans – Barclays’ chief operating officer for equities. (London).

10. Adrian McGowan – Barclays’ global head of FX trading. (London)

11, Jim Iorio – Barclays’ global head of FX distribution. (NY)

12. Eric Schartz – Barclays’ head of investment banking front office risk and controls. (London)

13. Mike Bagguley, Barclays’ global head of commodities and FX. (London)

14. Ken Baynes, Barclays’ head of GBP liquidity management (Repo). (London)

15. Robert Bogucki, Barclays’ head of commodities trading for the Americas. (NY)

16. Moyeen Islam – Barclays’ senior European fixed income strategist. (London)

17. Tarun Mathur – Barclays’ head of UK rates distribution. (London)

18. Michael Graf – Barclays’ head of USD rates trading. (NY)

19. Marvin Barth – Barclay’s European head of FX research. (London)

20.  Jose Wynne. – Barclays’ global head of FX research. (NY)

21. Tim Whittaker – Barclays’ European head of equity research. (London)

22. Larry Cantor – Barclays’ global head of research. (NY)

23. Richard Taylor – Barclays’ head of European investment banking. (London)

24. Mark Warham – Barclays’ head of EMEA M&A. (London)

25. Paul Parker – Barclays’ head of global corporate finance and M&A. (NY).

25 names you need to know at Deutsche Bank

26. Andrew Morgan – co-head of EMEA equity trading. (London)

27. Stuart McGuire – head of European cash trading and global programme trading at Deutsche. (London)

28. Garth Ritchie – global head of equities, Deutsche Bank. (NY)

29. Thomas Patrick – head of equities for North America at Deutsche Bank. (NY)

30. Joseph Spinelli – head of North American cash equity trading at Deutsche Bank. (NY)

31. Brad Kurtzman – head of quantitative trading at Deutsche Bank. (NY)

32. Stephane Avis – head of APAC equities flow and exotic derivatives trading at Deutsche Bank. (HK)

33. Andre Crawford-Brunt, global head of equity trading at Deutsche Bank. (NY)

34. Rob Ebert – head of equity sales for APAC at Deutsche Bank. (HK)

35. Neil Hosie – head of Asian equity trading at Deutsche Bank. (HK)

36. David Folkerts-Landau – head of research at Deutsche Bank. (London)

37. Richard Smith – director of EMEA equity research at Deutsche Bank. (London)

38. Kevin Rodgers – global head of FX trading at Deutsche Bank. (London)

39. Thomas Hartnett – head of core rates trading at Deutsche Bank. (New York)

40. Zar Amolia – co-head of fixed income currencies and commodities at Deutsche Bank. (London)

41. Wayne Felson – co-head of fixed income currencies and commodities at Deutsche Bank. (London)

42. Mathew Blackwell – co-head of Asia fixed income currencies and commodities sales at Deutsche Bank. (Singapore)

43. David Beale – co-head of Asia fixed income currencies and commodities sales at Deutsche Bank. (Singapore)

44. John Eydenberg, co-head of US M&A at Deutsche Bank. (New York)

45. Mark Fedorcik, co-head of US M&A at Deutsche Bank. (New York)

46. Paul Stefanick, co-head of global investment banking coverage and advisory at Deutsche Bank. (New York)

46. Henrik Aslaksen, co-head of global investment banking coverage and advisory at Deutsche Bank. (London)

47. Thomas Poppensieker, global head of risk at Deutsche Bank. (Frankfurt)

48. Andrew Procter, global head of compliance at Deutsche Bank. (London)

49. Daniela Weber-Rey, deputy global head of compliance at Deutsche Bank. (London)

50. Andrew Reid – head of operational risk management at Deutsche Bank. (London)

25 names you need to know at Goldman Sachs 

51. Rob Crane – co-head of electronic trading for Goldman Sachs EMEA. (London)

52. Stuart McGuire – co-head of electronic trading Goldman Sachs EMEA. (London)

53. Brian Levine – co-head of EMEA equities trading at Goldman Sachs. (London)

54. Ian Smith – head of electronic trading for Goldman Sachs in Asia. (Hong Kong)

55. Todd Lopez – co-head of Americas sales for electronic trading at Goldman Sachs. (New York)

56. Richard Tufft – co-head of European equity research at Goldman Sachs. (London)

57. John Sawtell – co-head of European equity research at Goldman Sachs. (London)

58. Arjun Murti – co-head of Americas equity research at Goldman Sachs. (New York)

59. Robert Boroujerdi – co-head of Americas equity research at Goldman Sachs. (New York)

60. Robert Drake-Brockman – co-head of pan-European equity sales at Goldman Sachs. (London)

61. Thomas Stolper – global head of FX strategy at Goldman Sachs. (New York)

62. Guy Saidenberg – global head of FX trading at Goldman Sachs. (London)

63. Simon Morris – head of credit trading for Europe and Asia at Goldman Sachs. (London)

64. Bryan Mix – global head of loan trading at Goldman Sachs. (New York)

65. Jonathan Meltzer – co-head of US credit sales at Goldman Sachs. (New York)

66. John Shaffer – co-head of US credit sales at Goldman Sachs. (New York)

67. Charles Eve – EMEA head of compliance for Goldman Sachs. (London)

68. Gilberto Pozzi, head of EMEA M&A for Goldman Sachs. (London)

69. Michael Carr, head of Americas M&A for Goldman Sachs. (New York)

70. Richard Campbell Breedon, head of M&A for Goldman Sachs Asia ex-Japan. (HK)

71. Charles McGarraugh - global head of metals trading for Goldman Sachs. (NY)

72. Greg Agran – global head of commodities trading for Goldman Sachs. (NY)

73. Colleen Foster – Americas head of commodities sales for Goldman Sachs. (NY)

74. Martin Wiwen-Nilsson – European head of commodities sales for Goldman Sachs. (London)

75. Alasdair Warren – head of the EMEA financial sponsors group for Goldman Sachs. (London)

25 names you need to know at JPMorgan 

76.  Patrick Burrowes – head of cash equities for EMEA at JPMorgan. (London)

77. Simon Taylor – senior equity salesman for EMEA at JPMorgan. (London)

78. Paul Huxford – head of equity research for Europe at JPMorgan. (London)

79. Noelle Grainger – head of Americas equity research at JPMorgan. (NY)

80. Sunil Garg – head of Asia Pac equity research at JPMorgan. (HK)

81. Andrea Casati, co-head of Asia Pac equity distribution at JPMorgan. (HK)

82. Kazuma Naito, co-head of Asia Pac equity distribution at JPMorgan. (HK)

83. Tim Throsby – global head of equities at JPMorgan. (London)

84. Alessandro Barnaba, co-head of EMEA sales and marketing at JPMorgan. (London)

85. Sikander Ilyas, co-head of EMEA sales and marketing at JPMorgan. (London)

86. Marc Badrichani, co-head of Americas sales and marketing at JPMorgan. (NY)

87. Jeff Bosland, co-head of Americas sales and marketing at JPMorgan. (NY)

88. Damien Roche, head of Asia Pac sales and marketing at JPMorgan. (HK)

89. Troy Rohrbaugh, global head of FX & Rates Trading at JPMorgan. (London)

90. Guy America – global head of credit trading and debt syndication at JPMorgan. (London)

91. Alex Keil – head of FX and commodities EMEA at JPMorgan (London)

92. Mitch Rubinstein – co-head of global oil trading at JPMorgan. (Houston)

93. Leander Christofides, Head of European Distressed & Leveraged Loan Trading at JP Morgan, (London)

94. Camillo Greco – European head of M&A advisory team. (London)

95. Ina De, co-head of UK investment banking at JPMorgan. (London)

96. Conor Hillery, co-head of UK investment banking at JPMorgan. (London)

97. Hernan Cristerna, co-head of global M&A at JPMorgan. (London)

98. Chris Ventresca, co-head of global M&A at JPMorgan. (London)

99. Mark Goulden – global head of equities compliance at JPMorgan. (London)

100. Joe Holderness, chief risk officer for Europe at JPMorgan. (London)

Kaum ein Finanzdienstleister ist so unbekannt und trägt doch einen der renommiertesten  Namen der deutschen Wirtschaft: Siemens. Der Konzern legte heute seine Ergebnisse für das erste Quartal des neuen Geschäftsjahres vor, das am 1. Oktober begonnen hat. Doch Siemens verkauft nicht nur Kraftwerke und Medizintechnik. Vielmehr besitzt der Konzern mit Siemens Financial Services (SFS) ein ganzes Portfolio von Finanzdienstleistern: Von Versicherungsvermittlern über Venture Capital-Unternehmen bis hin zu einer eigenen Bank.

Die Geschäftszahlen von SFS können sich durchaus sehen lassen. Da der Konzern die Ergebnisse seiner Töchter mit einiger Zeitverzögerung in homöopathischen Dosen veröffentlicht, stützen wir uns maßgeblich auf den Jahresabschluss 2013. Demnach kletterte die Bilanzsumme von 11,7 Mrd. Euro in 2009 auf 18,7 Mrd. Euro in 2013 – ein Plus von immerhin 60 Prozent. Unter dem Strich stand im Geschäftsjahr 2013 ein Vorsteuergewinn von 409 Mio. Euro.

Siemens Financial Services deklassiert Banken bei der Eigenkapitalrendite

Besonders bemerkenswert ist die Eigenkapitalrendite, mit der SFS die Konkurrenz aus der wahren Bankenwelt geradezu deklassiert. So weist der Siemens-Geschäftsbericht eine Eigenkapitalrendite von 17,1 Prozent in 2013 und sogar 21,9 Prozent in 2012 aus. Zum Vergleich: Die Deutsche Bank brachte es in den beiden vergangenen Geschäftsjahren gerade einmal auf 1,9 und 0,5 Prozent – Peanuts also. Da Siemens für den Konzern Eigenkapitalkosten (WACC) von 7,5 Prozent ansetzt, erweist sich der Ausflug des Elektrokonzerns in die Finanzdienstleistungen als überaus lukrativ.

60 Prozent mehr Stellen innerhalb von nur vier Jahren

Davon profitieren auch die Mitarbeiter. Während bei anderen Finanzdienstleistern derzeit die Axt an den Mitarbeiterstamm gelegt wird, scheint SFS kräftig Personal aufzubauen. Von 2009 bis 2013 kletterte die Beschäftigung ebenfalls um 60 Prozent auf exakt 3007 Mitarbeiter. Mithin schuf SFS innerhalb von vier Jahren über 1100 Jobs – und das trotz der Finanzkrise. Allerdings ging ein Teil des Stellensegens auf Akquisitionen zurück. So habe der Konzern z.B. ein Leasingunternehmen in Russland gekauft, betont eine Konzernsprecherin. Wie sich der Stellenaufbau auf Neueinstellungen und Akquisitionen verteilt, konnte die Sprecherin nicht beziffern.

Quelle: Siemens Financial Services

Auch die Vergütung kann sich sehen lassen

Doch lohnt sich die Arbeit bei SFS auch in finanzieller Sicht? Leider gibt die Sparte keine gesonderten Angaben zu Personalaufwand oder gar Gehältern. Bei der Siemens Bank GmbH sieht es indes ein wenig besser aus. Das Institut stellt jedoch mit 146 Mitarbeitern in 2012 – neuere Daten sind nicht verfügbar – nur einen winzigen Ausschnitt von SFS dar. Davon arbeiten 118 in München und 27 in London. Laut dem Vergütungsbericht ließ die Siemens Bank für Mitarbeiter insgesamt 14,1 Mio. Euro springen – knapp 11,3 Mio. als Festgehälter und fast 2,9 Mio. als Boni. Unter dem Strich kassierte also jeder Siemens-Banker durchschnittlich 97.000 Euro.

Bei den Boni zeigt sich die Siemens Bank im Vergleich zur Konkurrenz aus dem Corporate and Investment Banking zugeknöpft. So heißt es im jüngsten Vergütungsbericht: „Der Anteil der variablen Einkommensbestandteile am Jahreseinkommen beträgt im Grundsatz maximal 30 Prozent.“ Diese Einschränkung gilt freilich nur für den Standort München. In London zeigt sich die Siemens Bank großzügiger. Dort lägen die Boni „in der Regel“ bei 5 bis 80 Prozent, wenn die Ziele zu 100 Prozent erreicht würden. Doch selbst im Londoner Senior Management liegen die Boni „im Grundsatz bei maximal 65 Prozent der fixen Vergütung“ wie es im Vergütungsbericht weiter heißt.

Konzerne wie Siemens stellen interessante Alternativen für Banker dar

Laut Headhunter Andreas Christl von Talentspy in München können die Finanzdienstleistungstöchter von Großkonzern attraktive Karrierealternativen für Banker darstellen. Die Kandidaten hätten dort oft die Möglichkeit, sich in ihrer Karriere breiter aufzustellen als im Banking und später einmal in andere Bereiche des Konzerns zu wechseln. „Das ist einfach flexibler“, sagt Christl.

Für Headhunter Dirk Albütz von Fibance in Frankfurt handelt es sich bei SFS um eine „Brücke“ zwischen der Industrie und der Finanzwelt. Bei der Finanzierung von Projekten verfüge ein Konzern wie Siemens nicht nur über das Wissen einer Bank, sondern auch über Branchenkenntnisse. Damit besitze ein solcher Konzern einen Wissensvorsprung vor reinen Banken, was möglicherweise auch ein Grund für die gute Eigenkapitalrendite von SFS darstelle.

Auch Albütz hält Corporates für eine interessante Karrierealternative für Banker. „Das Thema Work-Life-Balance wird besser bedient. Dagegen ist Face-Time im Banking auch weiterhin ein großes Problem“, erläutert der Headhunter. Bei Industriekonzernen könnte man sich vielleicht auch mal einen Freitagnachmittag frei nehmen. „Das ist etwas entspannter.“

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Most every big bank – including Goldman Sachs, J.P. Morgan, Bank of America and Credit Suisse – has implemented new rules aimed at easing the workload of its junior staffers. As of today, Deutsche Bank has yet to follow suit, and it’s beginning to create frustration among analysts and associates within the U.S. branch.

A source within the investment bank said that the lack of an official policy has become “a hot topic” within the halls of the firms. Frustration has boiled over due to perception among Deutsche Bank analysts and associates that they already “work harder and get paid less” than bankers who work at the aforementioned firms, the source said. The sense of pay inequity seems to have also affected hiring at other levels.

“We are desperately trying to hire people at the senior associate and junior VP level and can’t find people willing to work here,” the source said.

Recent reports from Financial Times and City AM say that the German lender is working on guidelines that would limit the hours of interns, giving them at least four weekend days off a month, but no word yet on whether the bank will implement similar policies for full-time junior bankers. Of course that doesn’t necessarily mean that won’t eventually happen. Deutsche Bank didn’t immediately respond to a request for comment.

The bank will communicate bonus plans to U.S. workers next Wednesday, according to the source. Those conversations should have a significant effect on the temperament in the office, whether negatively or positively.

En matière de rémunération en finance, la confusion règne souvent, entre les rumeurs, les discours parfois contradictoires des chasseurs, les études de salaires des cabinets de recrutement qui excluent souvent le variable… Pour tenter de se faire une image juste de ce marché difficile à capturer, le site Internet Emolument.com, spécialiste des rémunérations dans l’industrie financière, a réalisé une recherche comparative en exclusivité pour eFinancialCareers.fr sur les grandes places financières où l’on retrouve le plus les financiers français, à savoir Paris, Londres et New York.

Deux secteurs ont été examinés à la loupe : la banque d’investissement et le front-office en finance de marché, avec respectivement plus 650 et 950 données salariales entrées par des professionnels depuis fin 2012.

Et si les Parisiens n’étaient pas si mal payés au bout du compte ?

Sans surprise, dans les deux cas, les rémunérations parisiennes sont à la peine par rapport aux grandes places anglo-saxonnes. En revanche, les chiffres suggèrent que les banquiers d’affaires français ont plutôt intérêt à débuter leur carrière Outre-Manche ou Outre-Atlantique avant de revenir à Paris une fois parvenu à un poste senior. Les écarts entre les places sont en effet surtout très élevés en début de carrière et s’amenuisent fortement par la suite. Ainsi, le salaire médian de l’analyste parisien en banque d’affaires est 30% inférieur à celui de son collègue londonien et jusqu’à -40% par rapport à ses confères new-yorkais. Bien plus tard, au rang de managing director (MD), les rémunérations totales sont quasi les mêmes à Paris et à New-York, et une légère différence (10%) est à relever entre Paris et Londres.

Rémunérations médianes en Banque d’Investissement

De manière générale, les plus grandes différences salariales s’observent surtout en finance de marchés, fait remarquer Thomas Drewry, co-fondateur du site Emolument. « Et c’est encore plus vrai depuis ces dernières années, Londres ayant profité de la crise financière pour se réaffirmer comme pôle central des activités de trading en Europe, au détriment principalement de Paris devenu une place secondaire y compris pour les grandes banques françaises », affirme cet ancien chasseur de têtes, fondateur du cabinet Veni Partners à Londres avant de lancer Emolument en 2012.

En finance de marchés, mieux vaut faire évoluer sa carrière à Londres qu’à New York. Une vraie flambée des rémunérations s’observe à La City au niveau Vice-President (VP) et, plus encore après au niveau MD, où la rémunération totale moyenne atteint 831k €, soit 35% de plus qu’à Wall Street et deux fois plus qu’à Paris. De plus, le fait que la rémunération moyenne soit ici bien plus élevée que la médiane (831k € versus 598k €) indique que Londres s’affiche clairement comme un marché de hauts revenus. Or c’est l’inverse qui se passe à New York et à Paris, où la moyenne est moins élevée que la médiane, et donc les plus hautes rémunérations ne sont le lot que de seulement quelques chanceux.

Rémunérations moyennes en Finance de Marchés (Front Office)

Au final, les Français sont-ils les parents pauvres de l’industrie financière ? Thomas Drewry n’en est pas persuadé. Et pour cause, ces chiffres bruts ne prennent pas en compte le pouvoir d’achat dans chacune de ces villes. Prenons la question du logement : les beaux quartiers de Londres enregistrent un prix au m2 frôlant les 50k contre 13k pour les quartiers parisiens les plus huppés. Sans parler du système de santé, le coût de l’éducation des enfants, ou encore l’indemnisation chômage. À cela, il faut encore ajouter une « pression plus forte à La City, et une carrière qui subit davantage les effets des crises », rappelle Thomas Drewry. Du coup, pas sûr qu’en bout de course, les Français soient perdants financièrement. D’un point de vue du rapport rémunération / équilibre vie professionnelle et vie privée (vacances, « ponts » du mois de mai…), les Français sont même probablement gagnants ! »

Et les bonus, alors ?

Historiquement, la culture du bonus est plus forte à New York qu’à Londres. D’après Thomas Drewry, la crise n’a fait que renforcer cette tendance. « En 2009, la pression de l’opinion publique en Europe a limité la part des bonus dans la rémunération totale. Mais dans la foulée, les fixes ont été largement revalorisés à Londres surtout. Par exemple, les MD y ont souvent vu leur salaire doubler (de 150k à 300k euros en moyen) », explique ce dernier.

À Paris, les augmentations de fixes n’ont pas atteint ces proportions. La hausse des fixes pourrait néanmoins s’effectuer courant 2014, quoique dans une moindre mesure, prédit Emolument. La raison ? Le plafonnement des bonus à 100% du fixe (CRD4) qui s’appliquera aux bonus versés en 2015 (au titre de l’année 2014) met particulièrement Paris en porte-à-faux. La question se poste surtout pour les banquiers les plus seniors (MD) dont le bonus représente environ 150% du salaire fixe médian en banque d’affaires comme en finance de marchés.

Rémunérations médianes en Finance de Marchés (Front Office)

Ces chiffres viennent d’ailleurs confirmer les conclusions d’un récent rapport du régulateur européen du secteur financier (EBA) sur les professionnels dont la rémunération dépasse le million d’euros. Ainsi, selon l’EBA, le bonus représentait à Paris près de 5 fois le salaire fixe pour ces « high earners » en France, contre 3,78 fois à Londres. Les assouplissements annoncés par l’EBA en décembre dernier devraient cependant temporiser la hausse des salaires fixes.

Pendant ce temps, malgré la pression qui s’exerce au sein des banques américaines sur les rémunérations, les professionnels des établissements américains affirment, dans leur majorité, avoir décroché un bonus cette année en hausse par rapport à celui de l’an passé, selon Emolument. Sur 305 données collectées depuis le 1er jour d’annonce des bonus en investment banking and markets, 52% des utilisateurs du site Internet spécialisé disent avoir reçu un bonus en hausse. Et 15% font état d’une hausse supérieure à 30%. L’année dernière, la majorité des bonus était en baisse (de l’ordre de 10 à 20%), nous indique Emolument. « Je ne vois pas pourquoi les employés des banques européennes, et notamment françaises, ne bénéficieraient pas, eux-aussi, d’une hausse – probablement plus mesurée – de leur bonus cette année – à l’exception des professionnels des taux (en raison de leurs mauvais résultats en 2013) », conclut Thomas Drewry.

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The JPMorgan employee who fell from the roof of bank’s Canary Wharf headquarters this morning has been revealed as 39 year technologist Gabriel Magee.

Magee’s LinkedIn profile suggests he’d worked for the US bank for seven years after a three year career at Intel. Magee was JPMorgan’s lead architect in fixed income rates technology.

Our thoughts are with Magee’s family and friends.

The Samaritans can be contacted on 08457 909090.

As expected, Barclays’ investment bank is making some more redundancies. The Financial Times reports that the British bank plans to lay off 400 investment bankers in addition to the 1,700 redundancies it’s announced already. The FT predicts that the redundancies will mainly affect managing directors who will be working ‘across operations’ including in support functions, mainly in London and New York.

Barclays is due to announce a big strategic review on 11 February when all will become clearer. In the meantime, based upon pronouncements at the time of the bank’s third quarter results in October 2013, here’s who’s likely to be chopped.

1. Anyone whose job can be automated

CEO Anthony Jenkins said Barclays’ Transform Programme is focusing on greater use of technology and “industrialisation and innovation.”

“We are working on ways to automate systems which have traditionally been performed manually,” said Jenkins.

Expect jobs to go across operations, OTC derivatives clearing and derivatives sales.

2. Front office fixed income salespeople and traders whose revenues are weak 

In the last quarter, revenues at Barclays’ fixed income currencies and commodities (FICC) business lagged revenues in its combined equities and investment banking business. Jenkins praised the efforts of staff in equities and investment banking, but said that he expected the “FICC revenue pool to shrink over time” and that there was an “implication in that” for Barclays.

3. Anyone working in an ‘exit quadrant’ 

As it attempts to reduce risk weighted assets and cut leverage, Barclays also plans to wind down its efforts in some areas. These are the designated ‘exit quadrants’ in the table below. Jobs in CLOs and structured credit look especially vulnerable.

JPMorgan staff were informed yesterday that the tragic colleague who fell from the roof of the bank’s building in Canary Wharf in the morning was 39 year-old Gabriel Magee, a US-born vice president in rates technology who had worked at the bank for ten years after graduating from the University of New Mexico. He worked at Intel before moving to Wall Street.

The Daily Mail reported that that Magee’s girlfriend reported him missing to the police on Monday night, making it possible that he spent that night at work. The paper claimed that senior colleagues of Magee’s have been investigating his recent workload to establish whether something had gone wrong. This was not confirmed by JPMorgan. The bank said yesterday that it was deeply saddened and that its thoughts were with Magee’s family and friends. Joshua Konstadt, a VP in technology at JPMorgan in New York told the Independent that Magee’s death was a mystery and that he was a,” a very good friend. A very smart guy, with a great sense of humour.”

Separately, Kevin Shea, a rates salesman at Goldman Sachs is getting out of the industry while the going is good. Shea, aged 48, is retiring. Bloomberg reports that he spent 27 years working for Goldman in both New York and London and was named a managing director in 2010. The reason for Shea’s exit is unclear, but rates businesses have been having a difficult time over the past year, and recovery is not expected in 2014. Shea may have decided he was unlikely to progress much further at Goldman, which is due to make its next round of partners in 2015 and seems unlikely to promote from the struggling rates business. Alternatively, Shea may simply have decided that 27 years at his desk was long enough.

Meanwhile:

Bankers at US firms think they will receive higher bonuses than before. (Bloomberg) 

Ex-JC Flowers & Co Partner joins Bob Diamond’s new firm, saying the chance to work with Diamond was, “too compelling to pass up.” (NYTimes) 

Paul Flowers did very well on the psychometric test part of his Coop Bank interview. He also had a very good understanding of the bank’s complicated politics. (Telegraph) 

Rick Bartlett, Citi’s former head of America’s IPOs has died of lung disease aged 46. (Bloomberg) 

Ex-Deutsche Bank risk manager, 58 year old Bill Broeksmit, found hanged at his house in Kensington nearly one year after he retired. (Evening Standard) 

If you didn’t go to a target school getting into Wall Street is like breaking into a house. The front door is locked so you have to try every window and door until you can break in. (Turney Duff)

Ms. Newland’s book rebukes elite schools for allowing Wall Street recruiters to prey on naive students. (DealBook)

Deutsche Bank has got a new preferred definition of profits:  preferred definition of profits: income before income taxes adjusted for credit valuation adjustment, debt valuation adjustment, funding valuation adjustment, costs to achieve, litigation and other items (or IBITAFCVADVAFVACtALOI for short). (Financial News)

Private equity professional’s extravagant new basement extension. (Evening Standard)