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Thursday's Headlines: Goldman Bans Swear Words In E-Mails
29-Jul-10
George Carlin Never Would've Cut It at the New Goldman Sachs [WSJ]
Goldman Sachs has ordered employees not to use profane words in e-mails, and has deployed software to catch swear words (including the ever-popular partial ones that substitute asterisks for one or more letters) in employee communications. The order was communicated verbally, without an official banned words list. Citigroup and JPMorgan have similar policies.
Ex-Regulators Get Set to Lobby on New...
A Message for all the Banking Prop Traders Thinking of Moving to Hedge Funds
28-Jul-10
Two articles today focus on the plight of investment banks' prop traders under the Volcker Rule.
On one hand, Bloomberg reports that Citigroup is contemplating moving its prop traders into hedge funds seeded with its own money. Or failing that, it says Citi might even scatter them "across the bank's main client-facing trading operations based on their specialties."
On the other hand, Fox Business says Goldman Sachs has already moved half of...
People: Hartford's Jamie Ohl Jumps to Wilshire Funds Management in COO Role
28-Jul-10
Wilshire Associates hires Hartford's Ohl as COO of Wilshire Funds Management [Wilshire Associates, via PRN]
Putnam Investments hires former Fidelity executive Harlow as director of investment retirement solutions [Putnam, via BW]
Moore Foundation hires Chiu from Farallon Capital Management as director of public equities and fixed income [Pensions & Investments]
oDesk hires Lakhani from Russia's Yandex as CFO [oDesk]
Securit
To Ace CFA Exams, Put In the Hours
28-Jul-10
The CFA Institute recently released results for two levels of the June Chartered Financial Analyst (CFA) exams. If you're already in or thinking about signing up for the CFA program, what do the recent and historical pass rates for those exams say about your prospects of making it through the program?
Really, not much. During the past five years, roughly 40 percent of candidates who took the CFA Level I and...
Wednesday's Headlines: Citi May Shift Prop Desk Into Hedge Fund For Outside Investors
28-Jul-10
Citigroup May Move Prop Traders to Hedge Funds for Volcker Rule [Bloomberg BusinessWeek]
Citigroup's Principal Strategies team of proprietary traders might be reassigned to the firm's hedge fund unit and given a new fund to manage that would seek assets from outside investors. That's one of at least three possible means Citi is considering to comply with the Dodd-Frank Act's looming prohibition on prop trading by banks.
New Wells Fargo Unit Geared...
Wealth Managers Demand Social Media Skills To Cement Ties With Clients
27-Jul-10
Social media skills are quickly climbing the list of qualities wealth management hiring managers are seeking, as firms race to meet client demands for better communication and greater transparency.
"There's a re-energized push around what people are calling digital or e-commerce," says Bill Liguori, co-founder and partner of Leadership Capital Group, an executive search firm. Financial services organizations, he observes, "are starting to invest money hiring people to build out these...
Ask the Headhunter: I Burned Out and Burned My Bridges. What Now?
27-Jul-10
A reader asks: My most recent boss was a very dynamic manager who gave me lots of opportunities for advancement. I've really learned a lot. But I think I blew it. The last three months were very stressful for me and just two days ago I quit. I left my boss in the lurch - didn't even give him notice. I was just burned out and didn't know where to...
TD Ameritrade's Tech Budget Signals IT Career Opportunities
27-Jul-10
Opportunities for both IT staff and financial adivsors are on the upswing at TD Ameritrade. The discount broker is ramping up IT spending and plans to invest $30 million in technology and what Chief Executive Fred Tomczyk calls "client-facing" activities in its fiscal year starting in October.
That level of tech spending is a multiple of the SEC's $12 million IT upgrade budget for fiscal 2011, Investment News observes. Last week...
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