FINCAREER

The Power of Professional Associations

Want to open up opportunities for your future job search and career exploration? Consider joining a professional association.
Professional associations are organizations of people who share a common background in a particular career area. These organizations are typically nonprofit, cooperative and voluntary, and exist to serve their members in a variety of ways, providing networking and social events, professional development activities, and career services. They also compile and disseminate information about the field and may lobby for legislation that is sympathetic to their particular cause. Read the full article featured by Berkeley's Career Center.

Morgan Stanley Offers High Bonuses to Attract Top Private Client Advisors

Morgan Stanley in the US is offering top financial advisors a bonus of up to 200 per cent of their gross revenue over the last year if they join from competitors, according to a Dow Jones Newswires report. Citing people familiar with the package, the report said Morgan Stanley has offered a combination of upfront cash and additional components over several years based on the potential recruit’s performance.

The report added that the move is indicative of the intense competition to attract high-producing private client advisors with large levels of assets. It said UBS is offering similar bonuses and other brokerages may be compelled to make similar offers. Read the full article published by WealthCareers.

Goldman Sachs joins World Cup football bandwagon

According to the FT, Goldman Sachs, the US investment bank, is advising clients against backing England to win the World Cup. In a 50-plus page report on the World Cup and economics, the bank gives three reasons why it "very much" doubts England will win the tournament in Germany this summer. Read the full article.

What an Executive Coach Can Do for You

Do you need an executive coach? Do your managers? Here is a useful framework for thinking about the role of coaching, from Harvard Management Update.

Is executive coaching at U.S. companies destined to play a role occupied by psychoanalysis in some Neil Simon version of Hollywood: a virtual prerequisite for anyone who aspires to be anyone?

It might seem that way at some organizations, at least to the untrained eye. IBM has more than sixty certified coaches among its ranks. Scores of other major companies have made coaching a core part of executive development. The belief is that, under the right circumstances, one-on-one interaction with an objective third party can provide a focus that other forms of organizational support simply cannot.

How Successful People Remain Successful

Mark Thompson and Stewart Emery, co-authors with Jerry Porras of Success Built to Last, spoke recently with Knowledge@Wharton about their new book which will be published by Wharton School Publishing later this year. In addition, the authors are conducting a global survey on how people think about success; a link to the survey can also be found at the end of this interview. Here is an extract: "We found that individuals across the spectrum of professions were striving to find something that mattered to them in a very fundamental way. This prompted them to drive their thoughts to frame a way of producing those results -- and then acting on those results".

Zurich and Geneva Win Quality of Life Poll

After emerging as the two unrivalled wealth management centres in the world in last week’s WealthBriefing poll, Geneva and Zurich have topped a highest quality of living survey conducted by Mercer Human Resources Consulting. Zurich took first place, followed by Geneva. The survey ranked 215 cities worldwide. More on this story.

eFinancialCareers up for Sale?

According to the Telegraph, the owners of eFinancialNews, publisher of investment banking newspaper Financial News and City jobs website eFinancialCareers.com, are considering a sale of the business. The board of eFinancialNews is understood to have appointed investment bank Rothschilds to advise on a strategic review and sale. More on this story.

Finance Boom Puts Job Seekers in Driver's Seat

A booming finance industry in Britain and Ireland has made it a job seeker's market, with an average of only 81 applicants for every 100 jobs on offer, according to a survey published Thursday by the Blomfield Group. Insurance and pension jobs were the toughest to fill in February, with 66 applicants for every 100 jobs, followed by banking operations, with 72, according to the survey, which calculates figures based on demand at its permanent and temporary staffing units. Read the full article.

Singapore: The New Switzerland?

Singapore is the fastest-growing centre for private banking, with private clients' assets in the region jumping by some 25 per cent in 2005, according to Boston Consulting Group. Christian de Juniac, senior vice president and head of global private banking at Boston Consulting group, told WealthBriefing: "In practical terms, Singapore is becoming the new Switzerland. Despite its relatively small population, Singapore has today $250 billion of offshore assets, growing at a rate of 20-25 per cent a year." More on this story by WealthBriefing.com.

Charles Schwab, back from the brink

The discount brokerage pioneer got his namesake company back to the top by returning it to its roots. When you think of innovators in the world of personal finance, Charles Schwab is the first name that comes to mind. The man who famously brought Wall Street back to Main Street by undercutting the big brokerage houses in the late 1970s was also one of the first to bring investing online (on CompuServe, well before the '90s Internet trading frenzy). More on this story published by Business 2.0. 

Pictet & Cie names 15 Group Managing Directors

The partners of Pictet & Cie announced on March 21 the appointment of 15 Group Managing Directors, a major development for the Geneva-based private bank. The appointed executives will be able to participate in the capital of the Pictet Group and will share its risk and profits.

The circle of Group Managing Directors extends beyond Switzerland to Pictet Group companies abroad. This new system does not affect existing remuneration structures.

View from the Top - Citigroup Private Bank's Peter Charrington

Peter Charrington, head of Citigroup’s Private Banking operations in the UK, was told late last year by his bosses in New York that the UK, along with Brazil and India, would be singled out for major growth for the private banking business. Obviously happy with the challenge – and the big cheque which comes with the expansion initiative – Mr Charrington may have not entirely known how much time he would have to spend on hiring the necessary bankers to grow the business. Read this exclusive story published by WealthBriefing.com.

FINCAREER Welcomes Guest Authors!

Our aim is to provide quality career management resources targeted at the financial services community. We invite professionals, academics and consultants to contribute by sharing their views, ideas and industry insights with our truly global professional audience. If you like to write, why don't you give yourself and/or your organization the perfect market exposure by becoming a FINCAREER guest author?  For more information, please contact our editor.

Malcom Gladwell launches a blog

If you liked the books Blink and The Tipping Point, then you will probably also enjoy reading Malcom Gladwell's brand new blog. Using the comments, you can also interact with the author and other readers.

Managing Authenticity: The Paradox of Great Leadership

To attract followers, a leader has to be many things to many people. The trick is to pull that off while remaining true to yourself. In their article published in Harvard Business Review, Rob Goffee and Gareth Jones explain why leadership demands the expression of an authentic self. According to the authors, if you try to lead like someone else–say, Jack Welch, Richard Branson, or Michael Dell –and you will fail. Employees will not follow a CEO who invests little of himself in his leadership behaviors. People want to be led by someone “real.” Read their article.