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Lunchtime Links: Goldman says hiring, not capital becoming its focus

29 May 2009

eFinancialCareers UK

Unfortunately, we can’t link to this as it hasn’t been reported anywhere (as far as we know), but it seems that Goldman may be ready to shift the emphasis to recruitment. After meeting with Goldman ‘management’ yesterday, Credit Suisse analysts issued a research note stating that –

Management sees business heads requiring additional people before incremental capital.

The note also says that Goldman has already been hiring ‘selectively,’ despite aggressive counter-offers from rival firms. In Europe, it's is understood to have recruited Tareq Islam, a former head of hedge fund sales at UBS, and has been hiring “across the board” in a “focused but significant” fashion according to headhunters.

Notably, Goldman has also lost quite a few people in recent months, including William Donovan in Russia (who went to UBS), GianLuca Gera (who went to Nomura) and Howard Spooner and David Bunce, (who went to Barcap).

Barclays banging the hiring drum again. (Alphaville)

Morgan Stanley hires four prime brokerage professionals. (Reuters)

Merrill’s US energy chief rumoured to depart. (Bloomberg)

Morgan Stanley hires four prime brokerage professionals. (Reuters)

Wall Street job losses may be overstated. (eFinancialCareers US)

The day the TARP restrictions lapse, banks will go back to annual and long-term bonuses. (Reuters)

Heads, you become richer than Croesus; tails, you get no bonus, receive instead about four times the national average salary, and may (or may not) have to look for a new job. (Wall Street Journal)

Jamie Dimon is a bargain. (Bloomberg)

Dutch to introduce drivers licence for bankers. (CNBC)

Bankers’ financial commitments make them susceptible to bribery if they join MI6. (Financial Times)

Labour MP who attacked banker profligacy claimed £62k in expenses for a £26k mortgage. (Telegraph)

Save the (French) traders. (Savethetraders)

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