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Lunchtime Links: 180 new hires planned at Execution

1 June 2009

eFinancialCareers UK

Execution, the independent UK institutional brokerage, is adding to the excitement surrounding the UK corporate finance advisory/ cash equities sectors. According to the Financial Times, it has ambitious plans to grow headcount from 120 to 300 and to triple revenues by expanding its corporate broking and advisory business. The Financial News also reports that it has a more modest urge to supplement its equity sales and trading business with an additional eight people.

In a previous incarnation, Execution sought to lure staff with such dotcom craziness as in-office space hoppers and crazy golf. But the Financial Times says it is putting such things behind it and is becoming a “serious institutional franchise rather than a maverick outpost.”

Average bonus at the FSA £8k, up 40% on 2008. (The Times)

RBS hires Antonio Polverino from BofA/Merrill. (Financial News)

UBS hires Rajeev Misra, formerly of Deutsche. (Credit Investment News)

Half of Lehman’s Japanese investment bankers agree to forego job for life contracts. (Financial Times)

New outlet for quants: advertising. (ReformedBroker)

Anshu Jain: Complex derivatives are not dead. (Euromoney)

Blanchflower sees UK unemployment rising by 100k per month for the next year or so. (Bloomberg)

Secretaries and accountants are particularly happy at work. (Reuters)

Comments (9)

UBS hired Misra?! What gives?! Now I can really believe the rebound is real. Time to short USD like there is no tomorrow..

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Comments (9)

  • UBS hired Misra?! What gives?! Now I can really believe the rebound is real. Time to short USD like there is no tomorrow..

    LongShort 01 Jun 2009

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  • Hello, I work at Execution.

    Patrick Bateman 01 Jun 2009

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  • LongShort, the rebound is real, and best of all every dipstick who said investment banking / bonuses are dead for good/ever have proven to be wrong. Bonuses this winter will be FANTASTIC.

    Henry 01 Jun 2009

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  • double dip henry....this rally ain't going to last

    Billy 01 Jun 2009

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  • bad news, Henry: in Singapore there IS no winter ;)

    dd 01 Jun 2009

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  • FTSE up 28% since March? I know it happened but doesn't sound right.
    If the  rebound is real what's changed? The monsters are still in the closet. It's quiet. Too quiet.

    Davros 01 Jun 2009

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  • Until the CMBS market tanks and bad loan losses start to filter through on P&L's of banks...

    Let's not forget that about every 'developed' market government is simply shifting the position of over-leverage away from the private sector and onto their own balance sheet.

    Yes, this rebound is real. In the minds of clowns who have no real experience outside of 2006-2008 of how the world works...

    AidanPaulsen 01 Jun 2009

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  • I hope the RBS trading corridors and trading floor is sound proof as little Polverino like to talk so loudly both on his private calls on the mobile and on business calls with his cordless headset! Good salesman thought ;-)

    Anony_Merrill 01 Jun 2009

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  • poverino is quite a hire, one of the most successful and aggressive sales people around , a real coup for RBS - but must have cost huge amounts.

    ponterotto 02 Jun 2009

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