Keep moving: it’s the dream job
As one fixed-income strategist, who had just passed on a great career opportunity because it wasn’t on his terms, told Euromoney last month: "Things seem to be pretty fluid in banking at present, another opportunity will come along soon. Fixed-income guys are in demand!" Fluid is the word.
One notable fixed-income move recently has been that of Guy Cornelius, the one-time cheerleader of the fixed-income agency broker that blossomed in 2009 at the expense of the broken ‘originate and distribute’ investment banking model. In January he left Evolution Securities, where he’d set up a fixed-income agency brokerage, to rejoin UBS. Now word on the street is that he’s off to Nomura, without doing a day’s work at UBS. As another banker tells us, this fluidity could have the makings of the new dream job: "You agree to join Bank A, say starting on August 1, then Bank B hires you, meaning you can’t work another six months, then just before start date, you move to Bank C, so you’re out for another six months, and so on. If you work your way around the market you could pick up a base salary for five years and never have to work." Probably not – after all, it’s not the industry’s nature to look to the long term, is it?