Fiona Hau’s Post

✨BARCLAYS ARE SET TO CUT HUNDREDS OF JOBS ACROSS ITS INVESTMENT BANK✨ Barclays is reportedly set to cut hundreds of jobs across its investment bank. According to multiple reports from the likes of Bloomberg News and Reuters, the layoffs will see the bank take the axe to under-performing investment bankers. Sources cited by Reuters said that the cuts come following Barclays' annual review process and are expected to take place in the coming months. A Barclays spokesperson told the news wire: “We regularly review our talent pool to ensure that we can invest in high-performing talent, execute on our strategy, and deliver for our clients." Barclays previously eliminated over 5,000 staff in 2023 in a broader cost-cutting effort. Poor financial conditions saw dealmaking plummet in 2023, a trend which has continued into 2024 and one which has had a significant impact on the wider banking industry. Barclays has previously said that it is looking to shift its strategy, prioritising expansion of its consumer bank and cooling on investment banking. British rival bank HSBC meanwhile is looking to expand its investment bank, with Greg Guyett, chief executive of global banking and markets, telling Financial News this week that it plans to add around 200 staff to the division in "the next couple of years". He told the outlet: "I’ve been very clear that we’re going to stay consistent in our investment in investment banking. You haven’t seen any stories about HSBC cutting or reducing staff. We’ve maintained staff. In fact, we’ve taken the opportunity in Asia as our competitors – particularly the Americans – have reduced their footprint to hire some great people.” Spartan International Executive Search Spartan International Group Oliver Rolfe https://lnkd.in/eNBtcanW

✨BARCLAYS ARE SET TO CUT HUNDREDS OF JOBS ACROSS ITS INVESTMENT BANK✨ Barclays is reportedly set to cut hundreds of jobs across its investment bank. According to multiple reports from the likes of Bloomberg News and Reuters, the layoffs will see the bank take the axe to under-performing investment bankers. Sources cited by Reuters said that the cuts come following Barclays' annual review process and are expected to take place in the coming months. A Barclays spokesperson told the news wire: “We regularly review our talent pool to ensure that we can invest in high-performing talent, execute on our strategy, and deliver for our clients." Barclays previously eliminated over 5,000 staff in 2023 in a broader cost-cutting effort. Poor financial conditions saw dealmaking plummet in 2023, a trend which has continued into 2024 and one which has had a significant impact on the wider banking industry. Barclays has previously said that it is looking to shift its strategy, prioritising expansion of its consumer bank and cooling on investment banking. British rival bank HSBC meanwhile is looking to expand its investment bank, with Greg Guyett, chief executive of global banking and markets, telling Financial News this week that it plans to add around 200 staff to the division in "the next couple of years". He told the outlet: "I’ve been very clear that we’re going to stay consistent in our investment in investment banking. You haven’t seen any stories about HSBC cutting or reducing staff. We’ve maintained staff. In fact, we’ve taken the opportunity in Asia as our competitors – particularly the Americans – have reduced their footprint to hire some great people.” Spartan International Executive Search Spartan International Group Oliver Rolfe https://lnkd.in/eSXZNhzi

📈 #GoldmanSachs Layoffs & #Compensation Increases. Smart Move? 🤔 Goldman Sachs recently laid off an additional 100 employees in Q2, likely from its underperforming platform operations division. At the same time, they decided to increase compensation for the remaining employees. #Layoffs often result from shifts in business priorities, driven by industry trends or concerns over financial performance. But are they sending the right message by immediately redirecting those funds into salary increases? IMO, yes! And, I want to be clear: layoffs are an unfortunate reality. But, this move demonstrates a clear reinvestment in the company's most valuable asset—its people. It's not a play you want to implement often to drive #EmployeeRetention, but it gets the message across. It's reminiscent of Ramit Sethi's advice: "Spend extravagantly on the things you love, and cut costs mercilessly on the things you don't." What do you think? Share your thoughts in the comments below! _______________________ No matter where you stand in your career, it's essential to plan for #resilience in case you ever face a layoff. Check out our latest YouTube video for more insights: https://lnkd.in/ev7QF4E8 https://lnkd.in/eU6Z5j7G #BusinessStrategy #IndustryTrends #EmployeeCompenstation #FinancialIndustry #WorkplaceInsights

UBS announces more layoffs. That is sad, but the right thing to do. This is necessary to keep the bank profitable and avoid problems,  after all they are now too big to fail for Switzerland.  When banks merge they gain complexity (more staff needed), but they also loose business. People and companies like to split assets and business over multiple banks. If you were creating you own market by playing UBS against CS, then your game is soon over and it is time ro move a part of your assets. If you work for UBS, it might be a good moment to be ambitious, get out of your comfort zone, and apply elsewhere. You and me, we tend to be loyal to the companies that we work for,  we trust them (and thus their shareholders) as respected family.  However,  and employer is not family. Family cannot fire you and take your means to subsidence away.  In Krakow, HSBC might be an alternative. I will post later some jobs. If you don't work for UBS, maybe consider every CV from UBS carefully. Behind each CV is a family with needs and fears. https://lnkd.in/de7aknaK

Goldman Sachs has removed caps on banker bonuses in the UK. 🤑 The cap, introduced in 2014 by the EU, limited bonus compensation to 2x an employee’s salary. Now, that figure can extend up to 25x, offering significantly more scope for competition within the city. Spokespeople from GS argued this decision “support[s] the UK as an attractive venue for talent” - but, after 2023 saw reduced starting salaries and a surge of layoffs, this change also signals a move back to a people-first philosophy across the banking sector. Do you think we’ll see other banks following suit in the UK? Let me know in the comments #banking #finance

UBS is planning another round of job cuts as it continues to trim headcount post its rescue of Credit Suisse. Expected to affect over a hundred positions in the global investment bank, wealth management, and markets units, the move is not just routine pruning but a significant reduction. CEO Sergio Ermotti aims to save around $6 billion in staff costs. UBS has shown little appetite for Credit Suisse's investment bank since the takeover, cutting senior investment bankers in January and trimming staff in Asia. The news of Swiss government's proposal to increase regulatory capital requirements has impacted UBS's shares, with potential implications of a $20 billion capital hit. Chairman Colm Kelleher warned that 2024 will be challenging due to the ongoing integration and restructuring process. #UBS #Growth #Investment #Business #WealthManagement I Bloomberg News I Gillian Tan I Jan-Henrik Förster

𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗜𝗻𝘁𝗲𝗿𝘃𝗶𝗲𝘄 𝗣𝗿𝗲𝗽𝗮𝗿𝗮𝘁𝗶𝗼𝗻 - 𝗗𝗮𝘆 𝟴𝟲 1) 𝗗𝗶𝘀𝗰𝘂𝘀𝘀 𝘁𝗵𝗲 𝗶𝗺𝗽𝗮𝗰𝘁 𝗼𝗳 𝗰𝗿𝗲𝗱𝗶𝘁 𝗿𝗮𝘁𝗶𝗻𝗴 𝗱𝗼𝘄𝗻𝗴𝗿𝗮𝗱𝗲𝘀 𝗼𝗻 𝗳𝗶𝘅𝗲𝗱-𝗶𝗻𝗰𝗼𝗺𝗲 𝘀𝗲𝗰𝘂𝗿𝗶𝘁𝗶𝗲𝘀 𝗮𝗻𝗱 𝗵𝗼𝘄 𝗶𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀 𝗺𝗶𝗴𝗵𝘁 𝗿𝗲𝗮𝗰𝘁 𝘁𝗼 𝘀𝘂𝗰𝗵 𝗲𝘃𝗲𝗻𝘁𝘀? Credit rating downgrades can lead to price declines in affected securities as investors demand higher yields for increased credit risk. Some investors may sell, while others might see it as a buying opportunity, depending on their risk tolerance and investment strategy. 𝟮) 𝗛𝗼𝘄 𝗱𝗼𝗲𝘀 𝗮 𝗯𝗼𝗻𝗱'𝘀 𝗰𝗼𝗻𝘃𝗲𝘅𝗶𝘁𝘆 𝗰𝗵𝗮𝗻𝗴𝗲 𝘄𝗶𝘁𝗵 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗿𝗮𝘁𝗲 𝗺𝗼𝘃𝗲𝗺𝗲𝗻𝘁𝘀, 𝗮𝗻𝗱 𝘄𝗵𝘆 𝗶𝘀 𝗰𝗼𝗻𝘃𝗲𝘅𝗶𝘁𝘆 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝗶𝗻 𝗯𝗼𝗻𝗱 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁? Convexity increases as interest rates decrease and decreases as rates rise. It measures the curvature of a bond's price-yield relationship. Higher convexity provides additional protection against interest rate risk, making it an important consideration in bond portfolio management. 𝟯)𝗘𝘅𝗽𝗹𝗮𝗶𝗻 𝘁𝗵𝗲 𝗰𝗼𝗻𝗰𝗲𝗽𝘁 𝗼𝗳 𝗮 𝗰𝗮𝗹𝗹𝗮𝗯𝗹𝗲 𝗯𝗼𝗻𝗱 𝗮𝗻𝗱 𝗵𝗼𝘄 𝗶𝘁 𝗮𝗳𝗳𝗲𝗰𝘁𝘀 𝗮𝗻 𝗶𝗻𝘃𝗲𝘀𝘁𝗼𝗿'𝘀 𝗿𝗶𝘀𝗸 𝗮𝗻𝗱 𝗿𝗲𝘁𝘂𝗿𝗻 𝗽𝗿𝗼𝗳𝗶𝗹𝗲. A callable bond gives the issuer the option to redeem the bond before maturity. While this benefits issuers, providing flexibility in changing interest rate environments, it introduces reinvestment risk for investors if the bond is called in a declining rate environment. 𝟰) 𝗛𝗼𝘄 𝗺𝗶𝗴𝗵𝘁 𝗰𝗵𝗮𝗻𝗴𝗲𝘀 𝗶𝗻 𝘁𝗵𝗲 𝘆𝗶𝗲𝗹𝗱 𝗰𝘂𝗿𝘃𝗲 𝗶𝗻𝗳𝗹𝘂𝗲𝗻𝗰𝗲 𝗮 𝗳𝗶𝘅𝗲𝗱-𝗶𝗻𝗰𝗼𝗺𝗲 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗺𝗮𝗻𝗮𝗴𝗲𝗿'𝘀 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀? Changes in the yield curve impact the relative attractiveness of different maturities. A steeper yield curve might lead to increased exposure to longer-term bonds for potential capital gains, while a flatter or inverted curve might prompt a more defensive approach with shorter-term securities. 𝟱) 𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝘁𝗵𝗲 𝗳𝗮𝗰𝘁𝗼𝗿𝘀 𝘁𝗵𝗮𝘁 𝗶𝗻𝗳𝗹𝘂𝗲𝗻𝗰𝗲 𝘁𝗵𝗲 𝗽𝗿𝗶𝗰𝗶𝗻𝗴 𝗼𝗳 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲-𝗯𝗮𝗰𝗸𝗲𝗱 𝘀𝗲𝗰𝘂𝗿𝗶𝘁𝗶𝗲𝘀 (𝗠𝗕𝗦), 𝗮𝗻𝗱 𝗵𝗼𝘄 𝗽𝗿𝗲𝗽𝗮𝘆𝗺𝗲𝗻𝘁 𝗿𝗶𝘀𝗸𝘀 𝗮𝗳𝗳𝗲𝗰𝘁 𝘁𝗵𝗲𝗶𝗿 𝘃𝗮𝗹𝘂𝗮𝘁𝗶𝗼𝗻? MBS pricing is influenced by interest rates, credit risk, and prepayment risk. Prepayment risk arises when homeowners refinance, impacting cash flows. Investors in MBS need to assess and manage this risk to make informed investment decisions 📌Follow Vigneshwaran Rajendran For More Interesting Content Like This #day86 #bnymellon #jpmorganchase #morganstanley #goldmansach #blackrock #blackstone #investmentbanking #interviewpreparation #opentowork #linkedinforcreators #statestreet

How Citi’s exit is reshaping the muni landscape The Bond Buyer | Jessica Lerner Citi's exit from the municipal business late last year, on the heels of UBS' closure of its negotiated underwriting business in October, has brought about a redistribution of high-level bankers, traders and other market players to a broad range of municipal firms that is leading to an evolved muni market landscape in 2024.  …. The spree of recent hires is part of what JAMES PRUSKOWSKI, chief investment officer at 16Rock Asset Management, calls the “Great Reset” in the muni market, rolling over from 2023, which saw a “war on junior talent and fee compression and regulation” that led to layoffs, compensation resets and consolidation of teams and business. “The market naturally in this scenario created huge opportunities,” JAMES PRUSKOWSKI said. “There is no shortage of skilled labor; it’s that they’re being redistributed to other shops.” https://lnkd.in/gYCCi-yY #municipalbonds #muniland #jobs #opportunity #thegreatreset #notthegreatdepression #roaring20s #talentwar #budgets #fees #compression #regulation #technology #skilledlabor #layoffs #consolidation