Alternatives Investors Plan to ‘Stay the Course’ This YearRead the rest of this entry »
Despite market volatility and an uncertain economic outlook, investors are committed to their alternative asset programs, declares Preqin in its half year investment update.
The majority of investors in alternatives say they intend to stay the course this year, telling Preqin they are satisfied with the performance of their portfolio over the last year.
“Almost all investors intend to either maintain (60%) or increase (33%) allocations to private capital, …
Wall Street Bonuses Are Shrinking This YearRead the rest of this entry »
About those year-end bonuses Wall Street bankers and traders were expecting just a few months ago: If they happen at all they’re going to be smaller than last year.
The compensation consulting firm Johnson Associates Inc. says the prolonged business shutdown, which has kept millions unemployed, is weighing on banks, which have upped their cash reserves anticipating the possibility of widespread credit defaults.
They’ve also taken a hit to lending …
Banks Seek to Improve Their Senior Level DiversityRead the rest of this entry »
The world’s largest banks may have slowed their overall hiring, but responding to #BlackLivesMatter and other pressures to be more diverse, they are placing greater emphasis on recruiting women and minorities, especially for senior positions.
"It's not tokenism," one London-based recruiter told eFinancialCareers."It's more that if you have a candidate who fulfills diversity criteria they are likely to sail through the approval process more quickly. This is getting more …
COVID-19 Is Teaching Accounting to Get ‘Comfortable With the Uncomfortable’Read the rest of this entry »
In the post-pandemic world, life at successful accounting firms will be very different from what it was just last year.
Partners will be more mentor than boss, engaging with staff in a more personal way than ever before. There will be a new emphasis on leadership and development. The consultative part of accounting will be center stage, as clients look for guidance and help in rebuilding their business. Technology adoption …
Bank Finds Autism Spectrum Hires Make Great TechnologistsRead the rest of this entry »
In the five years since starting its Autism at Work program, global investment bank JP Morgan Chase has discovered there’s almost no job someone on the spectrum can’t do.
An autism spectrum candidate was interviewed for a developer job that required Java. It turned out it was a language he didn’t know, said Anthony Pacilio, the global head of the bank’s autism program.
“We interviewed him on a Friday and …
Companies Are Finding Virtual Recruiting to Be More EfficientRead the rest of this entry »
It takes a little getting used to, but companies are finding that recruiting executives remotely offers more than enough benefits to make up for the lack of in-person meetings.
“There are many ways where the virtual recruitment is more efficient than what we did before,” said Jacqueline Welch, chief human resources officer and chief diversity officer at mortgage-finance giant Freddie Mac.
She told The Wall Street Journal that Freddie …
Investment Banks May Start Hiring in Q3Read the rest of this entry »
Investment banks are having a strong year.
After taking belt-tightening steps last year and announcing cost reduction plans this year, the coronavirus pandemic and subsequent business shutdowns worried the industry that more draconian action might be coming.
That prospect now is much less likely. Most investment banks had a strong 1st quarter and are on track for an equally good Q2.
Reporting on positive financial news from three of the …
Bank Uses Lockdown to Train New Managers, Refresh OthersRead the rest of this entry »
Just days before the UK announced a coronavirus lockdown, Lloyds Banking Group launched a training program for new line managers.
Even for seasoned managers, moving to an entirely virtual world while working remotely for the first time posed exceptional challenges. For new managers, it could have caused training to fall completely off the priority list.
Fortunately for the global firm, much of the program was online, and with the flexibility …
Banks, Asset Managers Begin Hiring AgainRead the rest of this entry »
Amidst a volatile stock market that's seen more ups and downs -- more ups than downs in the last few weeks -- than a roller coaster, more than a few banks did so well in the first quarter some have resumed hiring while their employees are beginning to anticipate year-end bonuses.
"As the pandemic persists, there are signs that banks are biting the bullet and going ahead with interviewing and …
Security a Concern For Accountants Working RemotelyRead the rest of this entry »
As the coronavirus continues to spread, a growing number of companies are telling employees to work from home.
While it is one way to avoid exposure to the virus, remote work presents a unique set of problems for companies unprepared to conduct business entirely or even partially over the internet. Besides the potential for overtaxing in-house systems and inadequate connectivity at home, cybersecurity concerns present an even greater concern. With …