Bank of the envelope numbers suggest Deutsche’s investment bank is worth little. Most investment banks had a poor fourth quarter. Deutsche Bank’s results on Friday were worrying for other reasons: costs are set to rise this year and trading revenues are thus far technology investment banking interview last year.
As shareholders grumble, it is worth asking whether a radically different strategy might have yielded better results. 11 billion based on Autonomous Research estimates. 4 billion would tumble as lavishly remunerated bankers depart. 40 billion of capital could be deployed elsewhere, or returned to shareholders. In practice, a closure would be extremely difficult. Deutsche’s derivatives exposure would make the task more complex.
Like RBS, it would find it a challenge to retain staff to manage the wind-down. Exiting investment banking would also entail calling an end to a two-decade push to become a global bank. For this and other reasons, it is most unlikely to happen. But a few more quarters like the last one, and the question should at least be asked.
Examining the important role better corporate reporting plays in maintaining trust with all stakeholders. The secret to good business with Asia? Entry level positions for recent college graduates are referred to as analyst jobs. Your title will be Analyst or Financial Analyst. Typically, an analyst will stay in position for two to three years before leaving for an MBA or for a promotion to Associate.
Of course, you should apply and, increasingly, a number of investment banks allow you to apply for an entry level position online. Online job ads are not much better than the career center. If you search the ‘net for banking jobs you will occasionally find listings for entry level positions. However, these are few and far between.
Almost all entry level positions are not advertised. No need since demand outstrips supply. As we discuss in Making a Trip to New York, it is important to meet with potential employers face to face multiple times. You need to network, connect and focus on a vertical area that interests you whether it’s nanotechnology, private placements, oil trading, risk management or autos. Some of our guides listed below can help.
A good time to send your resume to an investment bank is in November and December. Hires are usually made around January and February. But don’t stop in February just because you haven’t hit your target. According to one analyst we spoke to it’s really crucial to be persistent. But at the same time, customize your approach to each person and bank. Similarly, Bank of America absorbed Merrill Lynch. Citigroup has laid off large numbers of people but is holding its own in 2010.
10 list of banks that are not at the top. Investment banking is seeing massive consolidation. Today,firms are combining at an unprecedented rate. Recently, Merrill Lynch has merged into Bank of America. Lehman has merged into Barclays and Nomura and there is talk that other major firms may combine as well. The investment banking business is notoriously competitive. It is not by augmenting the capital of the country, but by rendering a greater part of that capital active and productive than would otherwise be so, that the most judicious operations of banking can increase the industry of the country.
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