HSBC trims UK investment bankers as layoffs pick up pace

HSBC has trimmed front-line staff from its investment bank in the UK, as a dealmaking slump this year is set to prompt a fresh round of layoffs across the sector. The UK lender, which is in the midst of an ongoing cost-cutting exercise unveiled in February 2020, has axed a handful of roles within its global … Read more

Credit Suisse draws up plans to split investment bank in three

Credit Suisse could split its struggling investment bank into three parts, a move that would involve thousands of job cuts as the Swiss bank reshapes its business. The bank has drawn up plans to split its beleaguered investment banking unit, including creating a so-called ‘bad bank’ to hive off unwanted assets, the Financial Times reported … Read more

The crypto graduates are coming — and they want your finance jobs

Veterans of traditional finance watch out: An ever-growing horde of graduates armed with crypto skills will soon enter the workforce as universities ramp up efforts to teach the subject. The number of students enrolling in courses teaching crypto and blockchain is growing by hundreds each year, British universities tell Financial News. While major cryptocurrencies such as bitcoin have … Read more

Why I started a family as a trainee at a Magic Circle law firm: ‘There was no right time’

Gillian Boateng is an employment lawyer in the London office of US law firm Skadden, Arps, Slate, Meagher & Flom  From a young age, it was always clear to me that I wanted a successful career. It was also clear to me that I wanted a family of my own and, if possible, I would want … Read more

Johnny Depp’s law firm Brown Rudnick has big plans in London

The live-streamed US libel trial of actor Johnny Depp against his ex-wife Amber Heard dominated the internet for just over a month. But the fervent Google searches also threw his law firm, Brown Rudnick, into the blazing spotlight. Now the 146th largest law firm in the US by revenue is capitalising on its new-found online fame by plotting a London … Read more

Michael Lewis teases new Wall Street book: ‘You’ll learn all about crypto’

Author Michael Lewis is being coy about his next project. But, he says over a video call from his home in Berkeley, California: “I will lift my skirt a little, but not a lot here.” He then gets more animated: “I really don’t want to reveal exactly what I’m writing about,” he tells Financial News. “But I found a … Read more

Meet the young stars of M&A

As mergers and acquisitions hit record levels last year, the young dealmakers on Financial News‘ Rising Stars of Investment Banking list made their mark, taking central roles on key deals. Here are the M&A bankers that rose to the challenge and made it on to FN’s illustrious ranking: Jack Blomfield, managing director, William Blair Augustin D’Angerville, … Read more

Meet the rookie trader who battled NFT hackers and dodged the crypto crash: ‘When do you sell?’

Vinny Zane has a taste for life — and an appetite for risk. The 38-year-old teacher and father of a 2-year-old son on Brooklyn’s Coney Island got into crypto in 2017 with $4,000 worth of bitcoin, and jumped into NFTs, or non-fungible tokens, last year. “It was a learning curve for me,” he told MarketWatch. … Read more

FCA struggles to lure diverse candidates for chair role

Just one candidate applying to chair the Financial Conduct Authority disclosed that they were from a Black, Asian or minority ethnic background, Financial News has learned. The markets watchdog received 17 applications for the recently vacated chair role, according to figures disclosed under the Freedom of Information Act. Thirteen came from white individuals, with just a … Read more

Klarna CEO draws criticism for posting emails of almost 600 ‘Klarnauts’ who lost jobs

The chief executive of embattled buy-now-pay-later company Klarna drew criticism for publishing a list of the hundreds of employees he has let go. Sebastian Siemiatkowski posted the list on LinkedIn, a week after announcing job cuts for about 10% of Klarna’s global workforce. The 565 so-called “Klarnauts” volunteered to have their names added to the list. The … Read more