“there might be a more legitimate reason why many wealth managers steer clear of Norway” -- David Bain
Monday, 23rd November 2009
Barclays Wealth has hired Jamie Arguello as head of multi-manager and third party funds, a newly created position.
Arguello joins Barclays from Pictet, where he was head of third party mutual fund offering. He will be based in London, reporting to Thomas Fekete, head of investment products, and Thomas Rostron, head of retail distribution and European fund management.
Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.
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