Here Is The City has a new blogger. 'Bud Momus' is an analyst finding his feet in investment banking, having graduated not too long ago. By day he works for 'the man', by night he occasionally dreams of liberation and a job doing more noble things for mankind. His innocence was quickly lost, and he already finds himself held prisoner by the relatively large amounts of cash that come his way for selling his soul.
Bloomberg reports that Janus Capital Group has posted a 36% increase in second-quarter earnings to $66.3m. In the period, the US-based fund manager attracted its biggest inflow of new cash from investors in 8 years ($5bn).
The irrespressible Cityboy has got a new single out, complete with the obligatory video. It's so bad, it's, well, bad - but at least any dosh he makes from it will be donated to the homeless charity Shelter.
Financial institutions pre-employment screening company Powerchex has just released the results of a study which took into account 3,876 job applications submitted to financial insitutions in the UK between June 2007 and May 2008. When compared to a sample of 2,960 applications made the year before, the results showed an increase of 30% in the frequency of discrepancies on CVs. The study reveals that some 17% of job applicants within financial services are prepared to tell porkies on their CV.
Another day, another Lehman story.
The Financial Times reports that 63-year-old Malcolm Calvert, a former partner at UK stockbroker Cazenove, is facing an insider dealing prosecution by UK market regulator The Financial Services Authority. Calvert is due in court Thursday. The case is not believed to relate to any activity at his old firm.
Reuters reports that Fidelity Investments, the world's largest mutual fund firm, has said that its total client assets have risen 2% to $1.92 trillion as at the end of June, compared to the same period last year.
We're trying to identify the two firms which have the best Graduate Recruitment & Development Programme (one for firms taking on less than 50 graduates each year, one for firms taking on 50 plus). And helping us is graduate recruitment and development specialists Graduate Solutions.
Here's a little something one of our readers sent in. Although not something we ordinarily run, it does serve to get things into perspective. Press on the link below.
The Financial Times reports that Bank of America posted a decent set of second-quarter earnings Monday. Despite, net profit sliding some 41%, earnings came in at $3.41bn, beating most analyst expectations.