Any Grads Want to Join a BrokerDealer? These Banks Want You!


If you or your college grad who you just financed 4 years of college for has yet to secure that sought-after Wall Street job, profiles 9 different types of people that Goldman Sachs, J.P. Morgan and Morgan Stanley are looking to hire at this point in the year. Here is what said:

1. Goldman Sachs wants private wealth management and fund management professionals

2. Sachs wants technology professionals in Warsaw

3. Sachs wants derivatives clearing professionals in London and Warsaw

4. J.P. Morgan wants ‘client rationalization’ professionals in London

5. Morgan wants associates for its London investment banking team in London

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6. J.P. Morgan wants someone to join a new team working on ‘VaR methodology’ in London

7.  Morgan Stanley wants a cyber intelligence analyst in Glasgow

8. Stanley wants over the counter collateral analysts in Glasgow

9. Morgan Stanley wants top university graduates for glorified data monitoring and presentation roles

If you’re interested in getting into contact with one of these broker dealers, click provides a global database of broker-dealers registered in the US as well as those performing brokerdealer services in upwards of 30 major countries throughout the world. -


BrokerDealer Bonus Season a Bust? blog update courtesy of Kevin Dugan’s article from 9 January in the New York Post.

With record fines this year, brokerdealers are preparing to receive lower than average bonuses from their bosses.

Wall Street might have to settle for the second-best caviar this year.

After a year of record fines, sluggish trading and low interest rates, bankers hoping for richer payouts should prepare to be disappointed when bonus season gets underway next week.

By most estimates, the pool of money set aside for Wall Street workers is expected to be flat with the previous year, when the industry took home $16.7 billion, or an average of $164,530 per person.

Last year, big banks were slammed by billions in fines and penalties — Bank of America paid the largest fine ever for a single company, $16.7 billion — for offenses ranging from toxic mortgage securities to money laundering to tax evasion.

“The fines have come to roost,” said Michael Karp, CEO and co-founder of headhunting firm Options Group. “The bonus pool and compensation are the most vulnerable for banks to make up the shortfall.”

While the overall bonus pool is expected to be flat, there will be gains in some better-performing business areas. Investment bankers, private wealth managers and securitized product traders could see bonuses rise by more than 10 percent, according to a research report from Johnson Associates.

That will be offset by declines for credit and stock traders, the report said.

Layoffs across Wall Street should keep individual bonuses from sliding too much for those who still have a job, even for those working in areas with smaller bonus pools, Karp said.

Wall Street had shed 2,600 jobs through October of last year, according to New York State Comptroller Thomas DiNapoli.

Morgan Stanley is set to be the first bank to announce bonuses, on Jan. 15, sources said. The bank is expected to have some of the biggest payouts because of its focus on wealth management, which has exploded as wealthier clients give banks more money to manage.

Citigroup and Goldman Sachs are expected to announce bonuses the following day. Citi’s traders will see their bonuses slashed by 5 percent to 10 percent after a weak year, said a person familiar with the company’s plans. That’s worse than earlier estimates that had the bonus pool level with the previous year.

Goldman’s investment bankers could see some of the fattest payouts this year, as the firm pulled in the most business during the busiest M&A year since the financial crisis, according to Bloomberg data.

JPMorgan Chase is expected to announce bonuses during the last week of January, while European-based banks typically tell their employees in February and March.

Morgan Stanley, Citi, and JPMorgan declined to comment. Goldman didn’t return a call seeking comment.

BrokerDealer Icon “Ace” Greenberg; Frmr Bear Stearns Chief is Dead

Courtesy of AP

Courtesy of AP blog post courtesy of extract from Bloomberg LP

July 25- Alan C. “Ace” Greenberg, who as chief executive officer of Bear Stearns Cos. transformed a small bond shop into the fifth-largest U.S. securities firm before it collapsed in 2008 in one of the key events of the global credit crisis, has died. He was 86.

He died Friday at Mount Sinai Hospital in New York of complications from cancer, his son, Ted Greenberg, said in an e-mail.

An amateur magician and bridge player, Mr. Greenberg took over New York-based Bear Stearns in 1978, when it was a private partnership with about 1,000 employees and $46 million in capital. He expanded shareholders’ equity to $1.8 billion and headcount reached 6,300 by 1993, when he handed power to James “Jimmy” Cayne, himself a one-time professional bridge player. Mr. Greenberg stayed on with Bear Stearns as an equities trader.

The forced sale of 85-year-old Bear Stearns to JPMorgan Chase & Co. in March 2008 followed a bank run by clients that left Bear Stearns on the brink of bankruptcy. The firm’s troubles traced to 2007, when two of its hedge funds tied to the real estate market collapsed. In a 2010 book, Mr. Greenberg said the run on Bear Stearns in 2008 stemmed from “a groundless rumor” that it had a liquidity problem at a time when it had $18 billion in cash reserves.

Chairman emeritus

On March 16, 2008, JPMorgan Chief Executive Officer Jamie Dimon agreed to buy Bear Stearns for $2 per share, later raised to $10. The stock had traded at $172 in January 2007. After the sale, Mr. Greenberg became vice chairman emeritus of JPMorgan.

“It’s hard to imagine a financial services industry without Ace,” Mr. Dimon and the firm’s head of asset management, Mary Erdoes, said Friday in a memo to employees. JPMorgan’s Jamie Dimon Diagnosed With Cancer blog update: JP Morgan CEO Jamie Dimon, indisputably one of the global banking industry’s most recognized leaders announced via internal memo to the investment bank/broker-dealer’s employees that he was recently diagnosed with throat cancer and is scheduled to undergo treatment beginning immediately.


JP Morgan CEO Jamie Dimon

According to Dimon’s e-mail, the cancer is curable and “the prognosis from doctors is excellent” after multiple tests confirmed the cancer is confined in the lymph nodes on the right side of his neck. The memo said Dimon will undergo eight weeks of chemotherapy and radiation at Memorial Sloan Kettering Hospital and curtail his travel, but he does not plan to take time off from his day-to-day leadership of the firm.

Dimon’s announcement came on the very day he celebrates his 10th anniversary at the helm of the bank, which makes him the longest-tenured CEO among the major U.S. banks. That tenure, which began when JPMorgan acquired Dimon-led Bank One a decade ago, has had plenty of highs and lows.