Russia's probably thanking its lucky stars it's not considered part of the West right about now.
As banks in Europe and the U.S. lay off hundreds of thousands of employees, Russian bank VTB Capital will hire 200 bankers this year. You don't even have to jet off to Moscow if you don't want to: Positions are available in Singapore, New York and Hong Kong.
The bank, which was launched in 2008 and has been poaching bankers left and right, including more than 100 from Deutsche Bank, now has 1,300 employees. VTB specializes in Russian debt and equity sales.
Perhaps surprisingly, the bank is hewing closely to British pay rules in London by extending them to offices around the world (exactly the opposite of what most bankers want to happen). That means the company can claw back bonuses if employees misbehave and also award the majority of bonuses in shares for some employees.
That might be a deterrent for some, but considering the job market, a Russian boutique that's hiring isn't something to turn your nose up at.
Trading for Life (FINS)
So you want to be a foreign exchange trader. We break down how you can get a foot in -- and whether you'll want to stay (get ready to rise and shine at the break of dawn).
Sweeping Away Suisse (WSJ)
Credit Suisse emerged from the financial crisis as one of the most well-positioned European banks, but it no longer has that edge.
Building On Up (Minneapolis St.Paul Business Journal)
Minnesota Bank & Trust is launching a new residential mortgage unit, for which it will hire 20 mortgage lenders and related support staff.
Highest Paid (NACE)
The highest paid members of the undergraduate class of 2011 were finance majors who became financial managers in banks, according to a new report.
Expanding the Ranks (Reuters)
Continuing with its plan to add 500 wealth managers in the Americas, Barclays Wealth added eight of them in Los Angeles and Chicago.
The Lehman Curse (WSJ)
First Nomura, now Barclays Capital. Ever since each firm picked up the dregs of Lehman Brothers' businesses, things haven't been the same.
Your Life Story (Business Insider)
When writing a cover letter for an investment banking job (or any job, really), there is never a need to include this sentence: "That semester I achieved a 3.93, and in the same time I managed to bench double my body weight and do 35 pull-ups."
Buzz Around the Office
We rarely post animal videos, but this one is a must-watch.
List of the Day: When You Hate Your Job
It's important to distinguish whether you hate your job, career or just your company.
1. Ask yourself whether you'd want your boss' job.
2. Take up a hobby to make the days bearable.
3. Remember it's not permanent.
(Source: The Daily Muse)