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This is not a nice dragon: More job cuts may come after Chinese New Year
If you are heaving a sigh a relief that you have managed to hold onto your job as we enter the Year of the Dragon, here is some rather inauspicious news: investment banks in Asia are not quite done with their cutting. Simon Roberts, managing director, Sheffield Haworth, says: “I don’t think the bulk of [...]
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The Insider: Here’s my short and not so sweet view of the Hong Kong employment market
Hong Kong-based investment professionals face strong headwinds because of the sharp deterioration in global market equities since May last year. Hong Kong’s own market has been battered by international macro economic uncertainties, which have chipped away at investor and market-participant confidence. I met a headhunter recently, who had this to say about the state of [...]
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Daily Dispatches: Credit Suisse bankers in Asia ought to be grateful they aren’t in the West
Credit Suisse may slash compensation for bankers in Asia by as much as 20 per cent. Still, that’s better than the 30 per cent cut the firm is inflicting on some senior bankers in other regions. (Bloomberg) The Islamic Bank of Asia has made two senior appointments – a Singapore-based head of i-banking and a [...]
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Why your employer could fire you, but then help you with your job hunting
The recent news that ipac is closing in Singapore and Hong Kong will affect some 80 staff, but according to the The Business Times, the financial planner will help retrenched employees seek out jobs in other firms as well as possibly redeploying them within parent company AXA. Gary Harvey, ipac Singapore’s chief executive, told the [...]
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Daily Dispatches: Morgan Stanley’s James Gorman tells complaining bankers to grow up (well sort of)
Unhappy over pay cuts? Morgan Stanley CEO James Gorman has this advice for you. “You’re naive, read the newspaper, number one, number two, if you put your compensation in a one-year context to define your overall level of happiness, you have a problem which is much bigger than the job. And number three, if you’re [...]
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GUEST COMMENT: How to rework your CV for roles outside the financial services industry
In the current environment, many of you may be thinking of broadening your job search so that it’s not restricted to financial services. If so, it is advisable to bear the following points in mind. 1. Research before you rush in Carefully research what your target companies(s) and target sector value – what skills do [...]
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Looking back, would I choose to take the CFA again? Probably not. It simply doesn’t justify the effort
Through sheer (read, brutal) discipline and some luck, I was able to pass all three levels of the CFA programme. Honestly, the course isn’t rocket science. The daunting task is really to cover the entire syllabus – six textbooks per level – and then remember the contents at least until you are through with the [...]
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Daily Dispatches: Citi cuts in India; Morgan Stanley promotes fewer MDs
The Indian unit of Citigroup will eliminate about 100 jobs as it restructures its local business, part of a global plan to axe roughly 4,500 jobs globally. Citigroup is among several banking groups that are tightening their belts through Citi India, which employs about 7,000 people, didn’t specify where the cuts would be, saying they [...]
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My Masters: Yes, taking time out to study IS worth it. Here’s why it’s working for me by boosting my financial knowledge
A blink of an eye and I’m halfway through my term at London Business School. A question that some friends ask me is whether my time here is really worth the expense and opportunity cost. My answer is an unqualified yes. One of my key goals in taking time out from the workforce has been [...]
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Redundancies and hardly any jobs: It’s an anxious start to 2012 for Asian equities
Asian equities has been a rather unpopular and depressing place to work in of late. Last week, RBS announced significant cuts to its equities division across Hong Kong, Singapore and Japan, along with plans to sell off its Asian cash-equities operations. Spain’s BBVA has also downsized its equity derivatives team from 26 to 12 in [...]
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