Citigroup is building up its investment banking business in the first half of 2011.
It wants to hire corporate and investment bankers in London, Russia, Turkey and the Middle East, the joint heads of banking at the company in Europe, the Middle East and Africa said. It will hire as many as 20 managing directors and executive directors in London.
The unit has seen declining revenue and departures of top staff, two reasons why the firm is eager to hire more talent. Russia, Turkey and the Middle East will see activity grow quickly, the heads said, thus the need for targeted placement there.
Since 2009, Thomas King, Matthew Ponsonby, Jim Peterkin, Reid Marsh, Thomas Demeure and Julian Mylchreest have all left the firm.
If you have your heart set on Europe, it may be time to consider other cities. Talent will command a high price in Moscow, for instance. A sales trader at the MD level could command $1.8 million to $3 million, compared to $1.3 million to $2 million in London. (Bloomberg)
Why Bankers Make Better Lovers (FINS)
Better than accountants, that is. In the office, anyway.
PwC Expansion (FINS)
PwC will hire 45,000 people this year -- and that doesn't daunt global and U.S. talent leader Paula Loop. Get in the loop on how to get a job at the firm.
Bigger Bonuses (DealJournal)
If you received a piddling bonus this year, you may want to head to Asia. Talent wars for investment bankers has pushed up bonus payouts, and less government scrutiny means more bonus money in your pocket.
Bringing on Rivals (Bloomberg)
Hong Kong-based Industrial & Commercial Bank of China will hire "significantly" for its securities unit over the next two years as it expands globally. Part of its strategy includes poaching from rivals.
Stepping Down (WSJ)
After more than two years on the job, Neil Barofsky, the Troubled Assets Relief Program inspector, will resign on March 30. Many say that Barofsky has done a great job in holding the program to accountability, but he's peeved that the Treasury has "mostly ignored his suggestions."
Sticking with Stevie (Dealbreaker)
Want to get a job at SAC Capital? All you have to do is e-mail Stevie Cohen 30 times for a year like one guy did, and then IM with him if he deigns to respond. Then you should tell him there needs to be a book written about him. Yes, flattery gets you everywhere.
Tough Match (AOL Jobs)
A new study finds that total cooperation on a team is impossible. It's not in people's best interests to compromise, so if they do, it's probably because they're going along with groupthink. Now you don't have to feel bad about hogging the remote.
Back to School (Boston Herald)
Harvard Business School has a new attendee whom you may have thought was best suited to yelling at the poor girls on "America's Next Top Model." That's right: Tyra Banks is taking Boston by storm (with her investment banker boyfriend in tow).
High Rolling (Daily Intel)
Rose McGowan (an actress you may remember from "Charmed" and "Jawbreaker), told New York Magazine that she's currently gallivanting around town with "someone in finance." The article provides a picture, so you should be able to name-that-dude using Google.
List of the Day: How to Quit Elegantly
If you've reached the end of your rope at your current job and feel the need to quit, do it in a way for your colleagues and superiors to remember you as "the classy one."
1. Take the high road and be polite.
2. Find your replacement.
3. Stay in touch.
(Source: Harvard Business Review)
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