hsbc - cull starts

[slogger]

Change your surname to Zwingli, wait until they get halfway through, and then change it back again.

excellent! I'll do that next time! However HSBC would take a year to change a username.

[SueEllen]

excellent! I'll do that next time! However HSBC would take a year to change a username.

Change your name via Deed Poll now.

[BrilloPad]

Starts again is a more apt title? They've a number of entries in the Roger Sinclairs list and I'm sure I've seen them mentioned at least twice on here that are not on his list.

http://www.egos.co.uk/contract-breakers.htm

If you are in a bank for more than 6 months you have to expect this now surely?

Hardly contract breakers as the banks gave notice.

Alot of bank work(not just IT) is being offshored. An increasing tide.

[slogger]

Hardly contract breakers as the banks gave notice.

Alot of bank work(not just IT) is being offshored. An increasing tide.

I'm not complaining - wasn't enjoying it there and was thinking of leaving - wasn't terrible but not positive - I usually feel obliged to stay to the end of a contract unless something big stops me from doing so.

I think though that a lot of companies would get upset if a contractor wanted to change t&c part way through a contract, or I've seen companies get upset with contractors leaving part way through a contract - it should work both ways - i.e. a company should treat contractors in the way they expect to be treated... in hsbcs case thats obviously for everyone to act in their own best interests - which I guess most people and companies do anyway.

[BrilloPad]

I'm not complaining - wasn't enjoying it there and was thinking of leaving - wasn't terrible but not positive - I usually feel obliged to stay to the end of a contract unless something big stops me from doing so.

I think though that a lot of companies would get upset if a contractor wanted to change t&c part way through a contract, or I've seen companies get upset with contractors leaving part way through a contract - it should work both ways - i.e. a company should treat contractors in the way they expect to be treated... in hsbcs case thats obviously for everyone to act in their own best interests - which I guess most people and companies do anyway.

I was BEGGED to go to a big IB from a nice hedge fund. They could not get the skills, loads of money.

18 months later I got made redundant.

Anyone who does anything other than look after their own interests is .....

[slogger]

I was BEGGED to go to a big IB from a nice hedge fund. They could not get the skills, loads of money.

18 months later I got made redundant.

Anyone who does anything other than look after their own interests is .....

indeed!

[uk contractor]

I was BEGGED to go to a big IB from a nice hedge fund. They could not get the skills, loads of money.

18 months later I got made redundant.

Anyone who does anything other than look after their own interests is .....

That old chesnut....the thing is with IB now they are all under immense pressure to cut costs & keep hiring on lower packages then making redundant & so on once they find somewhere to outsource cheap! Its hard I know but I would try to avoid the sector altogether. Goldman Sachs announced a few weeks ago they have lost 40% profit from their bond trading business in the last year if they cannot make money shows you how competitive it all is. I think the HFTs are sucking everything up now including IT jobs as so many trading floors are downsizing rapidly this is making many associated roles go in front & back office.

[radish2008]

Where did you work (function etc) ?

[MrMarkyMark]

Regulatory work is one of the few places where its at in the Investment Banks, at the moment.

A lot of them can't hire due to higher headcount reduction / offshore initiatives.

I had three (rightfully quite worried) people who had budget try and get me extended, but no sign off from the higher up project regardless of potential business impact.
Massive regulatory change regarding reassigning the granularity of their DW and reporting, one of the biggest changes you can make to the back end of a reporting system. I have done it before, none of them have, usually it's total carnage

They potentially want to hire me for another regulatory project but cannot hire in London.
If the hire occurs the budget and hire will come from New York, I said I wasn't prepared to locate, so it will largely be WFH with occasional travel.

Thats how hard it is for London IB hires at the moment regardless of business impact and need.

[oliverson]

Regulatory work is one of the few places where its at in the Investment Banks, at the moment.

A lot of them can't hire due to higher headcount reduction / offshore initiatives.

I had three (rightfully quite worried) people who had budget try and get me extended, but no sign off from the higher up project regardless of potential business impact.
Massive regulatory change regarding reassigning the granularity of their DW and reporting, one of the biggest changes you can make to the back end of a reporting system. I have done it before, none of them have, usually it's total carnage

They potentially want to hire me for another regulatory project but cannot hire in London.
If the hire occurs the budget and hire will come from New York, I said I wasn't prepared to locate, so it will largely be WFH with occasional travel.

Thats how hard it is for London IB hires at the moment regardless of business impact and need.

I dumped the IB's back in the summer of 2014, shortly after the second rate cut in a year. Do they actually think people will take 2 hits? That was at Barclays in Canary Wharf btw. I'm still down CW 2 days a week and bumped into the manger who worked on the project. He's still at Barclays but looked ill - physically drained and a broken man. That reinforced my decision to stay away from that type of client. Whenever I walk past their 10 South Colonnade offices, the only traffic in and out is bobs.