From the monthly archives:

November 2008

It isn’t easy finding rays of sunshine amid the gloom in today’s headlines, but Morgan Keegan, one of the nation’s largest regional full-service brokerage and investment banking firms, has announced the hiring of nine municipal banking, sales and trading professionals in the Northeast, the second expansion in that market in just over a year.

The firm has tapped executives from UBS Investment Bank, JP Morgan Securities, Morgan Stanley, Bank of America Securities and the former Bear Stearns & Company to strengthen its New England team, according to a company-issued news release.

Morgan Keegan’s Fixed Income Capital Markets division is one of the largest institutional fixed income operations off of Wall Street. The division encompasses more than 500 professionals in bond research, sales, trading, underwriting and investment banking. Morgan Keegan was also the 11th leading senior manager of long term municipal issues in the nation in 2007, according to Thomson Reuters.

{ Comments on this entry are closed }

Professionals with experience in financial restructuring, auditing and risk analysis could find this bear market a good time to be self-employed, says David King, an executive vice-president at Robert Half Management Resources. His firm specializes in placing contract people in finance and accounting.

According to King, quoted in Canada’s Globe and Mail, “Companies are going to need help in during the financial shakeout, but companies are going to be cautious about committing to a full-time position and the benefits and long-term commitment that comes with it.”

However a short-term, contract job can help you get your foot in the door of a good firm, and be at the front of the line when the economy picks up and companies start hiring again for full-time investment banking jobs and other financial positions.

{ Comments on this entry are closed }

The Wharton School at the University of Pennsylvania recently asked a few investment banking heavyweights to proffer up their advice to the school’s MBA students. CEOs, Co-Chairmen and economists from top firms such as UBS Securities, Merrill Lynch, J.P. Morgan Chase and Citigroup attended the Wharton Finance Conference, according to Deal Journal, a blog published by the Wall Street Journal. Some of their insights include:

Investment banking will survive, but the business model built upon short-term funding and popularized by firms such as Lehman Brothers and Bear Stearns is indeed dead. However, bank deposits, which are more secure than overnight loans from other banks, will continue to fuel what investment banks do best: namely, lending, trading and financing.

The M&A advisory side of the business will be more active in the next few years than the capital-markets side. And the most active part might be restructuring, which advises bankrupt companies. This may be a particularly good investment banking career choice, at least for the next few years until the economy recovers.

If you are thinking of working on the M&A advisory side, consider boutique investment banks. The article mentioned boutiques such as Evercore Partners, Houlihan Lokey Howard & Zukin, Perella Weinberg and Greenhill as good candidates, given that they have all had an increase in their M&A business recently.

And if you are considering capital markets, focus on distressed debt, because there will be plenty of troubled assets looking for buyers. Or consider emerging markets, because the investment banking business is increasingly global.

{ Comments on this entry are closed }

Investment Banking Job Interview Question: Counting Up

November 17, 2008

Analysing this simple number-based strategy game isn’t too difficult outside the stressful context of an investment banking job interview, so put yourself under some time pressure to come up with the answer… Question: We shall play a competitive game, taking turns to call out integers. The first person to call out “50” wins. The rules […]

Read the full article →

Fudge Your Investment Banking Job Resume at Your Own Risk

November 17, 2008

One of the most powerful business figures in Las Vegas’ gambling industry announced that he will be resigning his executive position amid allegations of missing academic credentials. The Wall Street Journal broke the story that MGM Mirage Chairman and Chief Executive J. Terrence Lanni would be stepping down on November 30th. Lanni said the resignation […]

Read the full article →

Advice for Those Seeking Investment Banking Jobs

November 13, 2008

We recently interviewed Ken Heisler, Director of Search at SALO, LLC in Minneapolis, Minnesota, who specializes in permanent placement of senior-level professionals in the fields of Finance and Accounting. Where are the opportunities in this challenging job market? Regardless of the organization, Accounting and Finance is a necessity.  Companies will need to continue to hire […]

Read the full article →

Investment Banking Course

November 10, 2008

The job market has changed significantly and we are often asked about investment banking training options in order to gain a competitive edge. We recommend finance professionals seeking education in financial modeling and valuation analysis look at The Investment Banking Institute (IBI). IBI offers a method of accelerating your career path by guaranteeing financial modeling […]

Read the full article →
Real Time Web Analytics