The Headhunter

Client Support Executive- Fixed Income/Ratings - Pan-Euro role

Our client is a ratings agency with offices across Europe. We seek a client-facing executive to manage pre-sales for two sales executives. You will have a good knowledge of fixed income/ratings and will have front office contacts. You will enjoy client interaction and will be pro-active in sourcing new business opportunities for your team. The role is based in London and will involve travel to Europe. European languages are advantageous, particularly Italian. For more information contact Aine Hall on +44 (0)20 7392 2644 or aine@freshman.co.uk

Nasdaq withdraws bid for LSE

The FT reports that Nasdaq has withdrawn its bid for the London Stock Exchange but reserves it right to make another offer should circumstances change. The Times says few observers think this is likely. The latest update on RNS is 28th February and so only covers Macquarie's bid.

London Job Boom

David Smith in the Sunday Times this week reported there are more jobs in the City of London than during the dotcom boom. He says the soaring stock market and the boom in M&A has pushed the number of City jobs to record levels. A letter in today's FT puts London's success down to its cosmopolitan nature and the opportunities it provides for professional development.

Credit Analyst - Utilities and Energy - London

Our client seeks a Credit Analyst to conduct primary analysis of UK Utilities Issuers (water and power). In this role you will present to ratings committees and prepare ratings publications for publication. You will identify industry risk factors and participate in due diligence surveys with originators, servicers and issuers. You will also communciate our client's position on rated issues. You will have a minimum 4 years analytical experience in the financial markets. We are also looking for candidates with a thorough understanding of ratings criteria. For more information contact Aine Hall on +44 (0)20 7392 2644 or aine@freshman.co.uk

Nasdaq/LSE merger would impact jobs

Forrester Research are estimating that if the merger of Nasdaq and LSE were to go ahead there'd be relatively few job cuts in the near-term due to the size and complexity of combining the two exchanges in the first 18/24 months. However, they anticipate higher cuts after this initial period. Click here for the piece on EFinancialCareers.

Users fear rising costs if Nasdaq wins LSE

A press report yesterday reported that a group representing users of the London Stock Exchange were concerned about the rising technology costs if U.S. rival Nasdaq applies its own trading platform to the London market. In addition the Daily Telegraph cites the concern over differences in accounting standards and protection from SEC probes. Here is a summary of the Economist's view. 

Hedge Fund Growth in London

We read an article this morning highlighting that hedge funds managed out of London grew 18% in 2005 to USD 225 billion. This growth is slower than the previous two years. Assets for hedge funds managed in London grew 50% to USD 190 billion in 2004 and 2003 saw a 95% increase to USD 119 billion. One magazine states that their offices are more likely to look like high-tech trading war rooms than examples of excess.

Fixed Income E-Commerce Sales - London

We are representing a global investment bank which is acknowledged to be a world leader in E-Commerce. An opportunity exists for a sales person with a background in fixed income to join the multi-asset class team. Ideally you will have worked in an e-commerce fixed income sales role for another bank or broking firm although we will consider candidates from the vendor community. Renumeration is negotiable according to experience. To apply contact Paul Chambers on +44 (0)20 7392 2644 or paul@freshman.co.uk.

MiFID talk

The European Union's Markets in Financial Instruments Directive (MiFID) is a hot topic and over 50% of our placements so far this year have required an understanding of the legislation. In the news this week,  one firm estimates that about a third of financial firms will be spending more than 10% of IT budgets on its implementation. Last month Atos Consultancy predicted that the UK's securities industry is looking at a £1bn price tag for complying with the directive.

At FISD Amsterdam this week the MiFID Working Group ran a workshop to drill down on the MiFID challenge and TradeTech 2006 will be addressing the topic with a series of panel discussions in April.

The Investor Services Journal Volume 11 Supplement provides in-depth discussion from the Working Group as well as data and software vendors.

Product Specialist - Corporate Actions - London

We seek a Product Specialist to take on responsibility for a number of Corporate Actions and Reference Data related products. You will manage the implementation and customisation of services. We are looking for someone who is bright and pro-active and has the inclination and ability to learn quickly in a challenging environment.  In the role you will have the scope to find creative, supportive and scalable solutions for complex customer needs. This could include suggestions and project management of implementation of changes to existing products and tools. You will have excellent client relationship skills. For more information, contact Aine Hall on +44 (0)20 7392 2644 or aine@freshman.co.uk