UBS Employees Become Members Of NYC “Sexual Elite” Networking Club

UBS blog update courtesy of DealBreaker’s Bess Levin and for many clients, this story could be a deal breaker. UBS, a Swiss global financial services company with its headquarters in Basel and Zürich, Switzerland, UBS is operating in more than 50 countries with about 60,000 employees around the world, as of 2014. Some of these 60,000 employees have decided to attend a “sex club” in New York City. Below is an extraction from DealBreaker

Have you spent a good deal of time gazing upon your coworkers and thinking, “Working alongside each other is nice. Watching them scarf down Seamless has its perks. Burning the midnight oil to get these pitchbooks done is more fun than you’d think. But what I’d really like to do is attend a sex party with these people. But not just any old sex party put together in a slapdash manner and attended by people who give bondage gear a bad name. I’m talking a highly organized sex party produced by pros who know what they’re doing. Maybe someone with a British accent, who only has a couple degrees of separation from the Queen of England, and can lend an air of class to the event and know how to make a decent cup of Earl Grey. Someone whose roster of clients include the crème de la crème of f*cking. Someone who is not just a sex party planner but a serious businesswoman who did 7-figures in revenue last year by providing “A-list actors, British aristocrats, Formula One owners, moneyed married couples” and banking heirs with a smorgasbord of sexual delicacies”? Then today’s your lucky day.

Leggy models in Christian Louboutin heels and Wolford stockings glide from room to candlelit room. A dapper man in a custom suit eyes them while sipping Champagne by the mansion’s fireplace. A DJ plays in a corner. Oysters are slurped at the bar. And then, in a matter of minutes, pants are off, bras are unhooked and a tangled web of nude revelers go at it on a bed plopped smack in the middle of the 12,000-square-foot home. It’s just another night at Killing Kittens — the roving members-only sex club that professes to be “the world’s network for the sexual elite.” On Saturday night, the kinky London-based club makes its New York debut. For $100 per woman and $250 per couple, the adventurous can spend hours sleeping with strangers in a swanky Flatiron loft rented for the evening. Cocktail attire and masks are required (though, needless to say, both will get shed rather quickly)…

“When [my ex-boyfriend and I] hosted a party at our house [in London], we had a bed and there were these two gorgeous silver foxes and this black girl whose legs went to Tokyo, and she was just demanding everything from them . . . it’s complete carnage,” she says. “It’s like a buffet.” […As of Tuesday, Sayle says 60 people have signed up for the NYC event, including a group of British female bankers who work at UBS’s Midtown office and a bevy of models. “They all have the same mentality,” a raspy-voiced Sayle says of her members.” They’re all overachievers.

For the entire article from DealBreaker, click here.


PE Firms Raiding BrokerDealers in Battle for Young Bankers

young blog update courtesy of the New York Times Deal Book section.

Young bankers fresh out of college are in high demand for private equity firms. Firms what the brightest and best that show great tenacity and enthusiasm for Wall Street. Firms are so aggressive about finding the best candidates that recruiters are interviewing potential employees up to 18 months before the start of the actual job.

They are only in their early to mid-20s, but some young bankers on Wall Street are the most sought-after financiers around, with lucrative pay packages dangling before them.

Junior investment bankers who graduated from college only last year are being madly courted by private equity firms like Apollo Global Management, the Blackstone Group, Bain Capital and theCarlyle Group in a scramble that kicked off last weekend. After back-to-back interviews, many are now fielding offers for jobs that won’t start until the summer of 2016.

This process has become an annual rite by private equity firms, which raise money from investors (like pension funds) to buy entire companies. But it has grown more frenzied since the financial crisis, and it started this year weeks earlier than many in the industry had expected. Fearful of missing the best talent being developed at investment banks, the giants of private equity have turned Wall Street’s white-collar entry-level workers into a hot commodity.

Private-equity firms are pushing earlier than ever to lure Wall Street investment banks’ most promising talent.

“It’s as if these were star athletes,” said Adam Zoia, chief executive of the recruiting firm Glocap Search, who helps private equity firms hire young workers. “The irony is they are professionals six, seven months out of undergrad. It’s hard to imagine you can tell if someone’s a star or not.”

For the young bankers, who are known as analysts, the recruiting race is an important step on a journey to becoming a Wall Street tycoon who can command a seven-figure (or more) pay package. These workers, graduates of elite colleges, often hope to spend two years at investment banks, learning the basics of corporate finance, before leaving for private equity firms, where they can use those skills to make investments. That career path makes them prime candidates for an elite business school, or something even more financially rewarding.

Even though these youthful analysts are starting at big Wall Street firms, the sector’s reputation has lost some of its sheen since the financial crisis. At the same time, Silicon Valley is luring away talent.

But private equity firms can offer higher pay to young bankers. A private equity associate — one who is just three years out of college — can earn as much as $300,000 a year, including salary and bonus. That is roughly double what a second-year banker might earn at Goldman Sachs. “Private equity is the preferable place to be in terms of compensation,” said Jeff P. Visithpanich, a managing director at the compensation consulting firm Johnson Associates.

While data is hard to come by, a December report from Vettery, a start-up recruiting firm, said that private equity was the single most popular destination for Wall Street’s junior workers. Roughly 36 percent of junior bankers with two-year contracts in 2012 have now joined private equity firms, compared with 27.5 percent who stayed in the same division at their bank, Vettery said.

It may seem surprising that these untested financiers are being so heavily courted when the overall unemployment rate of workers between the ages of 20 and 24 in January was more than twice as high as the rate for those 25 and older.

But the process of hiring these workers has grown only more frenzied since the crisis, as financial firms increasingly believe they must work harder to attract ambitious graduates. The banks, from which these workers are being poached, are raising salaries or offering additional days off in an effort to retain them.

To read the complete article from the New York Times, click here.


Flipping Burgers On Main Street v. Becoming a BrokerDealer on Wall Street: Glassdoor Survey Says:

download (8) blog update profiling recent study from job review site is courtesy of extract from with reporting by Beecher Tuttle.

People would rather work at In-N-Out Burger Than in Banking

Ok. That headline contains just a twinge of hyperbole. But the latest employer rankings show that Wall Street still has a ways to go in terms of improving its reputation and keeping workers happy.

Job review website Glassdoor recently came out with its Top 50 Places to Work, and not a single bank made the list. Now, you could make the argument that the hours required to make it on Wall Street would likely eliminate banks from contention, but several consulting firms made this year’s list. Consultants put in plenty of hours themselves and often have brutal travel schedules, yet they’re represented extremely well.

Bain finished second on the list, just behind Google, with a 4.4 rating (out of 5). Meanwhile, Boston Consulting Group finished 5th, just a few spots ahead of fellow consulting firm McKinsey, which at nine was nipped by In-N-Out Burger, known for its “fast-paced team environment.” So that’s three out of the top 10 for consulting, trumping every other industry, including tech.

Really, it shouldn’t come as that big of a surprise., which uses employee reviews to rank banks, accounting firms and consulting companies, reported similar rankings in consulting, with Bain, McKinsey and BCG topping the list. But as an industry, consulting took banks and accounting firms to the woodshed. McKinsey, the top ranked consulting firm, finished more than a full point above the highest-ranked accounting firm, PricewaterhouseCoopers, and seven-tenths of a point ahead of J.P. Morgan, the top-ranked bank.

Maybe the reviews are accurate and quantify a true measure of happiness. Or it could be that bankers are chronic complainers, no matter what the reality. A separate study found that bankers are just as satisfied in their careers as tech executives yet they were twice as likely to complain about their compensation, despite making more.

For the record, Goldman Sachs finished highest among the six biggest U.S. banks in Glassdoor’s survey, earning a score of 3.7. Morgan Stanley ended with a 3.6, J.P. Morgan a 3.5, Bank of America and Citigroup each received a 3.3, and Wells Fargo trailed the group with a 3.2.

Alibaba IPO: Minority BrokerDealer Owned by Service-Disabled Vets Wins IPO Selling Group Mandate

Courtesy of CNBC coverage (see below clip), Mischler Financial Group, the financial industry’s oldest minority broker-dealer owned and operated by service-disabled veterans was one of the few minority broker-dealers chosen by Alibaba executive management to serve as a member of the selling group for the world’s largest IPO to date. salutes the capital markets and syndicate team at Mischler Financial.

Best-In-Class Minority BrokerDealer Profile: Mischler Financial Group blog is pleased to profile Mischler Financial Group, the financial industry’s oldest and largest minority brokerdealer/investment bank owned and operated by Service-Disabled military veterans. Now celebrating its 20th anniversary, the firm’s founder and Chairman Walt Mischler is a West Point graduate who served 2 tours of duty in Vietnam prior to being injured in the line of duty. CEO Dean Chamberlain, also a West Point grad, and also certified as a disabled veteran consequent to injuries he sustained during a helicopter training mission, is widely-recognized across the debt capital markets space, much in part due to his prior role as Head of Fixed Income/Americas for global investment bank Nomura Securities.

Mischler is the securities industry’s only federally-certified BD and maintains a significant footprint across both primary debt and equities capital markets where the firm serves as a underwriter, manager, co-manager and/or selling group member for corporate issuers bringing new debt or equities to the investment marketplace. The firm is also one of few in the industry that operates a 24/6 “high touch + high tech” trading desk that facilitates agency-only, direct market access and best execution for institutional clients transacting in US domestic markets and 100+ international equities markets. The firm’s website is located at