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  • US banks the better bet

    It’s been a tough year for US i-banks, but headhunters are warning Aussie bankers to stick with the Yanks. Since the start of this year, shares in Merrill Lynch have plummeted more than 40%, Bear Stearns shareholders are growling about the 38% drop in their investment, and Wall Street heavyweights like Citigroup have taken a pasting. On the flip side, Aussie banks look relatively attractive, with shares in Commonwealth Bank up more... Read more

    Anonymous 10 Dec 2007 - 0 comments

  • Mega-bonuses for M&A stars

    Bumper fee income for 2007, fuelled by a swag of huge M&A deals, has led to massive bonuses for some high performers at major investment banks. Industry insiders point to some senior and junior M&A 'stars' snaring million-dollar-plus cash bonuses, with the so-called millionaire’s factory Macquarie Bank said to be the highest payer. The value of new M&A deals in Australia topped US$100bn (AU$111.2bn) for the first time in 2007, fuelled... Read more

    Anonymous 14 Jan 2008 - 0 comments

  • Buying out bonuses

    Relatively common in 2006 and early 2007, bonus buyouts are now a thing of the past – except, perhaps, for Jeff Herbert-Smith. Long-time Citi-banker Jeff Herbert-Smith quit his home of 19 years for JPMorgan just before Christmas, and only weeks before bonus numbers are announced. A spokesperson at JPMorgan said Herbert-Smith will be responsible for credit and rates and foreign exchange. JPMorgan declined to comment on whether Herbert-Smith garnered a... Read more

    Anonymous 16 Jan 2008 - 0 comments

  • Strategists needed to help survive the markets

    Black Tuesday saw panic selling wipe over AU$100bn off share prices. Will oscillating equity markets feed demand for strategists to help make sense of the ride? The events of 22 January 2008 are sure to leave a mark on the Aussie share market. Though it recovered towards the end of that week, it has since deteriorated again. What will happen next? It’s down to strategists to predict. Adnan Kucukalic, strategist for... Read more

    By Anthony O'Brien 04 Feb 2008 - 0 comments

  • Babcock's bounty

    Managers at Babcock are busy informing their minions how much they'll earn in bonuses this year. It should be (very) good news. The investment bank announced last month that its net profit had jumped 58% in the latest year, to AU$407m, and that its bonus pool had risen an impressive 38.5%, to AU$573m. Based on the bank’s 1,435 headcount at the end of December, the average bonus per employee will be AU$400k,... Read more

    By Tony Kaye 11 Mar 2008 - 0 comments

  • Want to leave? Pay back that bonus

    Investment banks are coming up with innovative ways to keep some staff on their payrolls, even while they let go of others in the wake of the credit crunch. This inventiveness mostly takes the form of long-term stock grants, or measures that let banks defer cash expenses in hopes that revenue growth will pick up later on. They may not be popular but, with most banks facing a more... Read more

    By Anonymous 11 Apr 2008 - 0 comments

  • Macquarie pays London rates

    Australian investment bank Macquarie is moving into the big league by paying its senior staff London-style salaries and recruiting homegrown graduates for its UK business. “We are…competing for high quality staff in all of the world’s major financial centres,” the bank’s chairman, David Clarke is reported as saying on Moneymanagement.com.au. “In order to succeed, the bank’s remuneration needs to be broadly in line with that of other investment banks based in... Read more

    By Tessa Liburd 20 Jul 2006 - 0 comments

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