Morgan Stanley: Hiring Now
Wanted: investment bankers. No banking experience necessary.
Morgan Stanley has launched a free-for-all recruitment drive aimed at diversifying its London corporate finance, mergers advisory and capital markets teams. MS Experienced Professionals Program is open to anyone with three or more years of postgraduate work experience, whether in finance. Successful candidates will join the associate level on a permanent basis after receiving six to eight weeks of training.
A similar program on the sales and commerce side of Morgan Stanley late last year resulted in 14 hires out of more than 1,100 applications. The new recruits, who started work this week, have changed careers in sectors such as the armed forces, education, software services and charity. Almost 80% of sales and commerce workers in London identify as black and 40% are women, a spokesperson said.
“Recruiting talented people can be a tough business,” said Tosin Akinluyi, head of Emea Macro Research at Morgan Stanley and chairman of its equality group Race to Action. “This new initiative is based on the premise that there is a huge pool of diverse talent working in other professions who, given the opportunity, would turn to a career in banking.”
JPMorgan: the benefits of plastic
Still not sold on a career change? Maybe you could be swayed by USB flash drive.
One of the perks of working for JPMorgan Chase is that every five years, employees receive “a digital memory book filled with well wishes from co-workers and other company colleagues.” According to bumf, the global rewards program “offers managers and employees the opportunity to recognize the hard work and dedication of their colleagues by sending congratulatory messages and presenting them with special rewards.”
Milestones start for those that last 10 years and after 20 years come with an additional gift. Jan Loeys, JPMorgan’s senior advisor for long-term strategy, recently published on LinkedIn to show his reward for 35 years of service: a blue number 35 encased in plastic.
Awarding trophies marking years of service was “not automatic given environmental considerations,” an insider said. JPMorgan declined to say whether Jamie Dimon, chief executive and chairman, will receive a USB flash drive and Lucite brick on his 20th birthday in 2024.
THG: challenging questions
“£1bn invested in 2021 in technology, infrastructure and M&A,” says a video posted on Instagram account of Matthew Molding February 9. Shares in his company, THG, have fallen every day since, reducing its market value to just over £1billion. For the many private equity funds supposed to manage THG numbers, return on investment may not be the most flattering metric.
What exactly ate THG? A cumulative loss of nearly 35% over the past 11 sessions compares to a 5% drop for the FTSE All-Share, but the only statement from the e-commerce conglomerate was to deny a Sunday news report on a dispute with a supplier.
That seemed insignificant amid ongoing bid speculation and talk of corporate upheaval, as a slew of regulatory filings from THG subsidiaries in recent days suggest. Buyout groups including Advent and Clayton, Dubilier & Rice have been linked to an interest in THG, but under normal market rules of engagement, continued silence from all sides would either indicate that the valuation work is at a very early stage, i.e. on pause.