I recently heard that CS Toronto let go of some of their FT analysts in light of poor deal flow. I am concerned that some of the large Canadian banks will also be letting go of their analysts soon. Any thoughts?
Unfortunately I do not have access to a Bloomberg terminal, but would someone kindly be able to copy and paste (or direct me) to a list of deals worked on by TD Securities in 2008?
Thanks so much,
Ash
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CS hasn't laid off a single person in toronto. None of the canadian offices really have except B of A.
i was under the impression that canadian deal teams are always a bit thin and don't hire opportunistically that much, so they don't need to fire that much either.
I doubt there will be major analyst layoffs on Bay Street (knock on wood).
Here is hoping... but given the mass slow-down in deal activity... I am a little concerned. Not much can be done... but I am curious.
Yeah there certainly has been extremely thin M&A and issuance activity these past few months -- certainly doesn't look like there's enough work to go around between the hundreds of investment bankers on Bay St. unless there's a mass of restructuring and takeovers in the works
CS Toronto hired 5 full-time analysts to start this year (I think), so bad things are possible (across the street actually, as hiring for the Class of 2008 was aggressive given a turnaround was expected in market condidtions when recruiting was done in Oct '07)
Does anyone have any info on layoffs that occured on Bay St. (specially with analysts) in the last market slowdown of '01/2?
holy smokes CS hired 5 people this year? Does anyone know how much FT staff they hired at Merrill, Morgan or some of the other BBs in Toronto? I thought these guys hire like 1-2 max...
For those still following Bay St. layoffs, CIBC WM is expected to announce the first official layoffs in Canada this week, cutting about 5% of its staff according to the Globe & Mail (ROB)
Haven't heard of any pink slips being given out at any other firms yet, including the global banks (although I may be wrong) which is odd given the number of positions they've cut in other financial centers...
And so the game begins ...
I heard today that CIBC WM announced 100 lay-offs (BNN).
I have no idea though in what divisions.
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