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Risk and compliance jobs were one of the highlights of last year, and 2010 looks set to be no different, with boardrooms and senior management now taking much more notice of what risk managers and executives are saying – and prepared to pay good money for rock-solid advice. Danske Bank rounded off last year by establishing a new chief risk officer function, reporting straight to chairman Peter Straarup. The importance attached to... Read more

Employees at Norges Bank Investment Management, the Norwegian government pension fund, saw their average pay rise by 258% last year compared with 2008, as the fund reported its best year ever, fuelled by the booming international equity and fixed income markets. The fund, the largest sovereign wealth fund in Europe, returned 25.6%, equivalent to NOK613bn (€76.4bn), it has said in its annual report, with the fund worth NOK2,640bn (€329bn) at the... Read more

For about ten years of my life I was on a flight at least once a week. Quick hops to visit a local office for a day or two, 18 hour long hauls to run a conference, several weeks in multiple locations to launch an ‘initiative’ across regions. Offsetting the number of visits I made to check up on off shored teams alone would require several forests of trees to... Read more

Sweden and Norway are rapidly developing a reputation as something of a hub for green and responsible investing, in turn leading to growing opportunities for asset and fund managers, as well as local banks, to carve out a niche within the ethical, environmental and responsible investment arena. In January Swedish firm BMC announced it was to build a $150m (€109m) bio-energy plant in the US, along with a German partner, while... Read more

An MBA is a question of timing: get it wrong and you’ll find yourself spending £40k+ on two years out of the market when pay is peaking; even worse you may then find it impossible to get back in due to a glut of recently redundant experienced analysts. Equally, however, if you’re determined to do an MBA and you put it off for too long waiting for optimal market conditions, you’ll... Read more

The Nordic bonus debate continues unabated. After relatively polarized moves among the region's largest banks over the past couple of weeks, Handelsbanken's chief executive has questioned the need for variable compensation and presented the case for fixed pay in the industry. Pär Boman, chief executive of the Nordic region's second largest bank, has suggested that there's no commercial rationale for paying bonuses and that there should be a shift towards longer... Read more

Both Nordea and SEB have had their problems throughout 2009, but have emerged from the year in comparatively decent shape. As a result, both firms are planning on upping headcount in 2010. The fourth quarter reports of both institutions aren't particularly positive – Nordea's net income fell to €448m from €638m for the same period last year, while SEB posted a 93% fall in quarterly earnings to SEK257m. The slumping Baltic... Read more

An MBA is a question of timing: get it wrong and you’ll find yourself spending £40k+ on two years out of the market when pay is peaking; even worse you may then find it impossible to get back in due to a glut of recently redundant experienced analysts. Equally, however, if you’re determined to do an MBA and you put it off for too long waiting for optimal market conditions, you’ll... Read more

After 20+ years of full time employment (largely with rating agencies), the start-up agency I was working for was suddenly closed in Jan. 2008. Since then, I have gotten some contract work but offers are getting less frequent now. I believe some of the CV issues I have are 1) too much time worked at rating agencies (unfortunately not seen as having relevant commercial experience in many financial services sectors)... Read more

Contrary to hope/expectation, it now appears that UBS has done the deed and paid zero bonuses to a lot of people in its investment bank. CNBC reports that US managing directors and senior vice presidents at UBS were told yesterday they will be paid absolutely nothing at all as a bonus this year, followed by 100% stock bonuses in 2010, a third of which will vest next year, another third... Read more

Several things have changed since we last looked at different banks’ different compensation structures a few weeks ago. Here, therefore, is a new list of banks according to the generosity of their bonus systems. Let us know if you have anything to add. 1). JPMorgan : Despite being a notorious cost cutter, JPMorgan boss Jamie Dimon has come out strongly in favour of unhindered bonuses. Average compensation per head... Read more

John, 'Commode on Legs', Thain, is leaving Bank of America 'with immediate effect.' Thank you to the reader of the last article who flagged this up marginally before it became common knowledge. Thain's swift removal follows the news that he spent $1.2m carefully crafting his office at Merrill. This included (according to CNBC), the purchase of the following highly indispensable items: Area Rug $87,784 Mahogany Pedestal Table $25,713 19th Century Credenza... Read more

They say that the first step in recovering from any addiction is admitting you have a problem. The same goes for the thousands of bankers addicted to the power and prestige of Investment Banking who are now out of the market and face a far less lucrative and influential future than the one they’d envisaged and had been promised. As a recruitment consultant (or free counselling service), I am faced... Read more

Burnt by their generosity with guaranteed bonuses in 2008, banks are now virtually refusing to pay them at all. According to headhunters, this is contributing to the hiatus in hiring. “After 2008, when already small bonus pools were depleted by guarantees, banks are paranoid about offering guaranteed bonuses to new hires,” says one headhunter. “It’s making it difficult to bring in new talent.” Banks like RBC Capital markets are rumoured not... Read more

For about ten years of my life I was on a flight at least once a week. Quick hops to visit a local office for a day or two, 18 hour long hauls to run a conference, several weeks in multiple locations to launch an ‘initiative’ across regions. Offsetting the number of visits I made to check up on off shored teams alone would require several forests of trees to... Read more