Finance

Trading Places: HSBC’s Tarda jumps to Credit Suisse, Liberum hires Peel Hunt’s How

Among key moves to keep an eye on this week were HSBC’s Orazio Tarda, who will join Credit Suisse as its new global co-head of fintech investment banking as the Swiss bank looks to rebuild its bench of senior dealmakers after a spate of exits.

City investment bank Liberum has hired Peel Hunt’s Nicholas How to fill the role exited by Bidhi Bhoma, who was promoted to its chief executive last year, joining its investment banking team to lead its coverage of support services and industrials.

Meanwhile, the government’s fight to fix audit regulation continues. Amid a planned overhaul of the watchdog, a formal recruitment drive has begun to hire a new chair to lead the board of the Financial Reporting Council, replacing current interim chair Keith Skeoch who is due to depart in October.

Here’s your roundup of other big hires this week:

Natixis Investment Managers, the €1.5bn asset manager, has appointed Nathalie Wallace as global head of sustainable investing. Wallace, who is starting her new role on 1 September and will be based in Boston, will report to Joseph Pinto, head of distribution for Europe, Latin America, the Middle East and Asia Pacific. She is joining the French asset manager from Mirova US, where she was head of ESG strategy and development.

Pensions and investment giant Royal London announced on 4 August that Jane Guyett has joined the board as a non-executive director. Guyett, who started her role that same day, has held senior roles with Bank of America Merrill Lynch in London and New York.

What will the return to the office look like, if there even is one? That is the question the banking community pondered this week as more hybrid-working plans started to take shape.

In the UK, the government is still leaving it up to employers to decide. But Chancellor Rishi Sunakmade clear on 3 August that he wants to see a gradual return.

As does Vanguard. The US fund giant sent a memo to staff saying that anyone who gets jabbed before 1 October will be offered $1,000 for their troubles.

Flexible working has become a key battleground in the fight to lure top talent in and keep it there.  Japanese bank MUFG became the latest to unveil a hybrid work scheme for European staff. In the US, Wall Street titans seem to be much keener on seeing staff in person, but that doesn’t mean their hiring policies aren’t evolving either — we explore why JPMorgan isn’t just looking to elite universities, but to former Olympians as well for its next generation of leaders.

What we do know is that those who do hang around will be well compensated for their troubles.

Credit Suisse prepared to follow Wall Street by joining the $100,000 club for juniors, as did HSBC with its 18% hike, and Goldman Sachs one-upped everyone by going to $110,000 for first-year analysts. In case you missed it, here is our roundup of where all the leading banks stand now when it comes to their salary offers.

Pay could jump even higher as well, as reports suggest that the Treasury could ditch the cap on bonus payments in the wake of Brexit.

It’s not just the banking sector either — law firms are continuing to report bumper results and are hiking pay as well.

And recruiters are reporting that the fight for talent is running at a pace not seen since the heady days of before the financial crisis.

To contact the author of this story with feedback or news, email FN Staff

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