Despite a slew of bad news on bonuses and hiring, pay on Wall Street could reach an all-time high for the second straight year. [WSJ] Citigroup plans to hire 7,500 staff in China over the next three years and add commodities traders and private bankers in North America. [Bloomberg] Morgan Stanley fired a software developer after he allegedly violated the firm's code of conduct when a subway conversation led to an ill-advised... Read more

Financial institutions will be forced to scale down, merge or sell off their investment banking businesses to avoid becoming obsolete in the wake of Basel III, says the former president of Goldman Sachs International. [WSJ] After a year of reassessment and retrenchment, many firms appear to have reached an inflection point in their staffing plans and are cautiously planning for new hires. Many say they'll increase their staffing levels from last... Read more

M&A activity among U.S. banks could spike next year as the financial crisis and continued bank failures bring more consolidation to the industry. [Reuters via International Business Times] Bankers in Europe could see their compensation curtailed by regulators, with bonuses capped based on links between performance and risk. [FT] Hiring in London’s financial services industry may soon come to a halt, according to a report by the Centre for Economics and Business... Read more

Barclays hired an ex-Neuberger Berman exec and 14 other investment representatives for its wealth management business in the Americas. [WSJ] Private equity firm Welsh Carson Anderson & Stowe hired Ryan Harper and Edward Sobol as vice presidents. [Reuters] Julius Baer will appoint Jacqueline Koo as its new head of portfolio management for North Asia. [Finance Asia] Advantus Capital Management, which manages $20 billion in assets, named Randal Harrison as vice president and head... Read more

IPOs are heating up in Hong Kong, creating demand for investment bankers. [Deal Journal] Newedge Group,a joint venture between Societe Generale and Credit Agricole is set to hire 50 sales people in Asia over the next year. [BusinessWeek] Life insurers American General Life and Accident Insurance Co are hiring 4,000 sales agents nationally. [Ft. Worth Star -Telegram] Fixed income professionals could be in for a rough ride as several firms are reportedly set to... Read more

With new regulations reshaping the market for Wall Street's riskier products, jobs in derivatives would appear to be in short supply. Credit derivatives are a thing of the past, and banks such as Goldman Sachs have shifted to derivatives clearing and market-making. Yet, despite tighter rules, banks in Europe are hiring. And, areas such as equity derivatives, while becoming commoditized, have become launching pads for new business in other parts... Read more

Jefferies continues its rapid expansion, naming Peter T. Santry as head of distressed trading, a new position in its leveraged-finance sales and trading division. [Bloomberg] BMO Capital Markets appointed three new equity sales execs in its Chicago office. [Reuters] JPMorganChase hired Tyson Reed and Adam Hartzell in its private banking business, to be based in the firm's Boston and Seattle offices, respectively.[WSJ] Wells Fargo hired financial advisers Mark Bukowski, who managed assets of... Read more

This question was asked at an interview for a junior-level position at an investment bank. The background It was a third-round interview and the panel seemed to have exhausted their questions. But as the interview drew to a close, the head interviewer said: “As we have five minutes left, could you tell us something remarkable?” How the candidate responded My mind was blank, but before I could stop the words... Read more

The $30 million package given to ex-UBS energy banker Stephen Tauber by Citigroup is a sign the bank is distancing from government aid. [Dealbook via WSJ] Commerzbank plan to cut 1,650 more investment banking jobs as part of consolidation following its acquisition of Dresdner Bank. [Bloomberg] B-school graduates in India will soon be subject to testing as part of the job application process at many large firms. [Businessweek] British private equity firm 3i... Read more

JPMorgan hired former Cantor Fitzgerald exec Irvin Goldman to help in its capital markets business. [Bloomberg] Nomura appointed Gregg Fatzinger as Managing Director and Head of Consumer Retail for the Americas. [Reuters] BMO Capital Markets named Ilias Konstantopoulos as Head of Investment & Corporate Banking. [Marketwatch] Macquarie named Tim Gould as head of its US equity markets division. [

As part of its look into how the investment banking world has transformed since the halcyon days of 2007, Financial News has assessed how the rankings have changed since then across various business areas. The results, perhaps surprisingly, show that although the deck has been shuffled quite significantly since that time, the firms at the top of the tree have retained the top spot. Goldman Sachs remains first within sales... Read more

CIBC hired Helen Hayes, who will be based in London and lead the Canadian bank's sales to European clients. [Globe and Mail] Philadelphia-based middle market lender LBC Credit Partners named Jeffrey L. Blumin as a managing director in its New York office. [Distressed Debt] Columbia Management appointed Toby Cromwell and Mark Dence help build out its institutional business. [Businesswire] Fund of fund Hermes BPK Partners named Pawel Kisielewsk... Read more

Wall Street analyst Meredith Whitney has made a name for herself with her dire predictions for years. But last month she got the Street's attention when she said that securities firms would shed 80,000 jobs over the next year-and-a-half. Now that Bank of America has announced a slew of cuts in its investment bank, many are wondering whether lower revenues will lead others to follow suit. And, whether Whitney will be... Read more

Middle-market investment bank Jefferies is hoping it can leverage its rapid ascent in fixed income and commodities to gain a foothold in the futures business. The firm announced the launch of a futures division and named a 25-year veteran to lead it. Regarded as a leading player in high-yield debt, Jefferies has stepped up its fixed income and commodities businesses in recent years. Now, the firm has set its sights on... Read more

Morgan Stanley hired four financial advisers, overseeing $443 million in assets, in its New York office. [Reuters] Barclays named David Lewis as head of its Americas banking unit, where he'll oversee expansion of the bank's regional banking products and services over 14 offices. [PR Newswire] Merrill Lynch Wealth Management hired David Barnett, a financial adviser managing $180 million in assets, from Morgan Stanley Smith Barney. [WSJ] Credit Suisse's Canadian unit hired Scott Fromson... Read more

Describe your career path. I graduated with a bachelor's in commerce from the University of Toronto with a minor in Spanish and East Asian studies. My career started in a bank training program where I rotated to different areas within the organization. It was during this program that I was identified as a good candidate for a sales position. I enjoy interacting with people, and demonstrated a passion for the capital... Read more

G2 Investment Group, which formed a joint venture with Forbes in private equity and hedge funds, hired former Lehman Brothers exec Robert Cox, along with Terri Kahan, Norris Lam and David Martus. [Bloomberg] Fund of Fund Meridian Capital Partners named Mark Gordon director of risk management. [Finalternatives] Wells Fargo named Brian Abrahams as a director and senior analyst covering biotech [BusinessWire] Citigroup hired Gage Olcott as head of its retail structured-note sales in... Read more

As part of its look into how the investment banking world has transformed since the halcyon days of 2007, Financial News has assessed how the rankings have changed since then across various business areas. The results, perhaps surprisingly, show that although the deck has been shuffled quite significantly since that time, the firms at the top of the tree have retained the top spot. Goldman Sachs remains first within sales and... Read more

Deutsche Bank named Mitch Braselton and Matthew O'Connor as managing directors in the institutional client group for debt in North America. [Comtex via Trading Markets] BNP Paribas named Laure Morsy as its new global head of the financial institutions group. [London South East via Reuters] Cantor Fitzgerald hired Garett Stoffels and Steven Tuch to co-head its private capital group, part of the firm's investment banking group. [Businesswire] Barclay's named Patrick Ramsey managing director... Read more

A study by The Wall Street Journal indicates the days of an Ivy league degree being the key to success everywhere may be over. But not on Wall Street. Ivy Leaguers remain perched atop the pecking order. Jobs in investment banking, for example, are still dominated by those from elite academic institutions. A Harvard MBA or a degree from Wharton remain the best way to gain entry into firms like Goldman... Read more