Morning Coffee Nov 29 2010

UBS I-Banking Triage

By julie steinberg

UBS has lost several top bankers to other firms this year, and it hopes its recent hires will make up for it.

The big bank brought on 168 new people in its i-banking division and has plans to add more in Europe. The hope is that the new hires will help with the struggling European M&A division. Bloomberg data show that UBS has fallen to sixth in the rankings from No. 1 two years ago. Other data show that UBS's i-banking revenue was the lowest compared to its eight rivals during the first nine months of 2010.

The firm has also had a hard time matching its rivals' compensation packages. If it's going to get to the top again, it may have to increase its payouts. (Bloomberg)

Making the Most (FINS)

The month between Thanksgiving and Christmas may seem short, but be sure to pack it with networking opportunities. Holiday cheer makes people more likely to give you some of their time

M&A Competition (BusinessWeek)

Nomura's not the only Japanese bank hiring outside of the home country. Sumitomo Mitsui Financial Group will hire 40 bankers outside Japan for its M&A business by March 2012.

Home Sweet Home (DealBook)

The CFPB has a new address: 1801 L Street. Its staff has doubled since September, and now numbers 70 employees. Headcount is expected to increase again.

Banding Together (Reuters)

A group of British banks had been discussing possible bonus restraint this year, but Standard Chartered has pulled out of the deliberations. Now that one bank's gone, it's only a matter of time before the rest pull out.

Beefing Up (Dow Jones)

HSBC is looking to expand its capital markets team in Australia. It will also expand its onshore leveraged acquisition and loan syndication operations.

Two Years Later (Financial News)

FN Rising Star Greg Coffey left GLG partners in 2008, the same year he landed on the list. Two years later, he's resurfaced at Moore Capital.

Turkey Lurkey (HuffPo)

Thanksgiving may be over, but you're probably still feeling the turkey, stuffing and apple pie. Here are some ways to reset before the next holiday comes around.

List of the Day: Job Interview Lies

You'll hear all sorts of things from hiring managers, so beware when they utter something along these lines.

1. We're looking to hire quickly.

2. We don't have office politics here.

3. We haven't nailed down the salary range yet.

(Source: BusinessWeek)

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