Monday, May 25, 2009

Credit Suisse places ads to hire Asia private bankers

While some of the investment banks are shedding off staff, I do hear some encouraging news lately. This might make even more sense to my Asia Pacific readers.

Credit Suisse places ads to hire Asia private bankers
23 April 2009 Reuters News

Credit Suisse has placed advertisements in newspapers to hire experienced private bankers in Asia, at a time rivals have been shedding staff.

The Swiss bank placed an advertisement in the Wall Street Journal Asia on Thursday asking bankers to make appointments with senior Credit Suisse officials in Singapore, Hong Kong, Japan and Australia.

Similar ads went out in the Financial Times and Singapore's Business Times, a Credit Suisse spokeswoman said.

"Amid unprecedented market turmoil, our private banking business recorded strong asset inflows," the bank's head of private banking for Asia-Pacific, Marcel Kreis, said in the Wall Street Journal ad.

"Private banking is one of the core businesses of Credit Suisse, with a notable high performance in Asia."

The No. 2 Swiss lender's advertisements come as jobs are cut at the private banking arms of rivals such as UBS and HSBC, and ahead of Credit Suisse's first-quarter earnings later in the day.

UBS last week laid off about 240 private bankers in Asia, while HSBC said on Tuesday it was cutting 100 private banking jobs in Hong Kong [ID:nLL396647].

Citigroup , Societe Generale and Barclays also recently shed staff from their wealth management arms in Asia.

Credit Suisse's private banking arm last year generated 50.9 billion Swiss francs in net new assets including 8.4 billion Swiss francs from clients in the Asia-Pacific.

A Credit Suisse spokeswoman in Singapore declined to say how many bankers the company was planning to hire.

Wednesday, May 13, 2009

Qualities of An Analyst

Many successful bankers started their investment banking career as an analyst. Successful analysts work hard, understand spreadsheets, and have fine analytical skills. Analysts can be promoted to associates who do similar work, but more of it.

Investment banks hire many entry level analysts annually. What determines who are being hired and who are not? Many would say a high GPA from a reputable college. These could be helpful, but there are plenty of such students. What will determine success? There are certain additional qualities that bankers look for.

Keep the following factors in mind while attending an investment banking interview.

People who work smart usually tend to work less hard. However in investment banking, you would need both. Analysts and associates are expected to work hard, long, and late hours. For entry level analysts, ‘work hard’ would even rate higher. During an interview, you need to show a great attitude in your willingness to work hard. Moreover, when asked about past experiences, describe situations that you were able to overcome adversity with your positive and optimistic attitude.

Attention to Detail
Attention to detail is vital in investment banking because it is indicative of a bank’s quality and level of professionalism.

An error-free resume is your first step to prove your attention to detail. During an interview, you have to answer questions precisely. For example, you should be able to quickly and flawlessly describe the various valuation models. You would also need to demonstrate your ability to count. Quoting numbers in your answers is a good strategy.

Team Player
All of the work performed at an investment bank is conducted in teams. Therefore, your ability to work in a team is highly sought after. Present yourself as a good team player by discussing your past experience of being a member of a successful team. List a number of team activities on your resume to attract the interviewer to ask teamwork-related questions.

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Investment Banking Interview