It's nearly Easter. The weather seems to be improving. You may not be thinking of looking for a job. But if you are, it seems that two hedge funds and Bank of America may be hiring.
Bloomberg reports today that both BlueCrest Capital Management and Tilden Park Capital Management have been picking up proprietary traders coming out of Deutsche Bank. BlueCrest has reportedly picked up Matt Siravo, a distressed-debt analyst who was previously a Deutsche loans trader. It's also said to have hired John Roach, a Deutsche mortgage-debt trader. Meanwhile, Tilden Park has reportedly hired Michael Boyle, a former mortgage trader at Deutsche. Deutsche closed its proprietary trading group last month, said Bloomberg. Other of Deutsche's ex-traders have gone to Wellington Management Company and to UBS's (strangely enduring) hedge fund division.
Separately, our US editor points out that Bank of America appears ready to hire investment bankers again. Chief executive Brian Moynihan said yesterday that Bank of America will be investing in investment bankers, "in moderation," over the next three years. Speaking off the record, headhunters in London tell us Bank of America has been looking at new fixed income recruits. M&A hiring at BofA seems out of the question, however: Christian Meissner, head of investment banking and M&A at Bank of America told the Financial Times that the corporate finance sector is still suffering from excess capacity and that any recent improvements in capital markets business should not be taken as an indication that structural issues have been resolved.
Bank of America has hired Ajay Kapur, an equities strategist from Deutsche Bank.(WSJ)
RBS will have to cut bonuses still further to meet its capital shortfall. (Telegraph)
Credit Suisse is buying Morgan Stanley’s wealth management business, along with 60 relationship managers therein. (Financial Times)
David Blumer, former EMEA head of Credit Suisse Asset Management, is now head of EMEA operations at Blackrock. (Financial News)
How the Cypriot capital controls will work. (Cyprus Mail)
30 sales interview questions. (Sirona)
How to craft a papier mache Easter egg. (CraftWorld)