Most Clicked NYSSA SmartBrief Stories
1. The 6 core competencies you probably don't have
NYSSA SmartBrief | Nov 18, 2009
A survey of 2,200 business leaders identified seven core competencies critical for successful leadership now and in the future -- and found that the majority of today's business chiefs had mastered only one of them. The report, from the Center for Creative Leadership, says that there's a "leadership gap" between executives' actual and required skill sets, and that big changes will be needed to keep companies on track in coming years. ThePracticeOfLeadership.net (11/17)
2. Wall Street executives say recruitment is difficult
NYSSA SmartBrief | Nov 20, 2009
Although Wall Street firms have lots of people to choose from as they begin to hire again, executives say top talent remains difficult to find. The situation is predicted to change after employees receive their bonuses. CNBC (11/19)
3. Commentary: Certain skills in demand when hiring resumes
NYSSA SmartBrief | Nov 17, 2009
Writing in an eFinancialCareers commentary, Jon Jacobs considers the skills that will be most in demand when financial-sector companies resume hiring, which is expected to begin next year. Financial institutions group bankers and people with trading-technology skills will be in demand, Jacobs wrote. eFinancial Careers (11/16)
4. Hedge fund managers still can't charge performance fees
NYSSA SmartBrief | Nov 16, 2009
About two-thirds of hedge funds have not recovered from losses of 2008 and are not ready to declare a profit on which managers can take fees, according to a report by Hedge Fund Research. About one-quarter of these funds were 20% short of their best level of performance last year. Wall Street Journal, The (11/16)
5. Analysis: Crisis alters ranks of prime brokers
NYSSA SmartBrief | Nov 19, 2009
Wall Street has held a firm grip on the prime-brokerage business for decades, but the market meltdown and increased competition have loosened that grip and forever altered the ranks. "You had an industry that changed at a glacial pace for 20 years go through two years of rapid change," said Barry Bausano, co-head of global prime finance at Deutsche Bank. "Over the past few months, the cement has set." Reuters (11/18)
6. TARP inspector general: AIG bailout spared Goldman big losses
NYSSA SmartBrief | Nov 18, 2009
Goldman Sachs argued for more than a year that it would not have taken significant losses if the U.S. government had allowed American International Group, one of Goldman's major trading partners, to go bankrupt. An audit by the inspector general for the Troubled Asset Relief Program comes to a different conclusion. According to the report, collateralized debt obligations to protect Goldman from losses on AIG would have done little good given market conditions of the time. "It is far from certain that the underlying CDOs could have easily been liquidated, even at the discounted price of $4.3 billion," the report says. Wall Street Journal, The (11/17)
7. BofA's CMBS touted as another positive sign for market
NYSSA SmartBrief | Nov 20, 2009
A recent $400 million sale of commercial-mortgage bonds by Developers Diversified Realty helped reopen the securitization market. Bank of America is planning a $460 million deal of commercial-mortgage bonds, but unlike the DDR deal, BofA's is not eligible for the Federal Reserve's Term Asset-Backed Securities Loan Facility. Insiders said the deal marks another positive sign for the commercial-mortgage market. Reuters (11/19) Financial Times (tiered subscription model) (11/20)
8. Regulators knew about risks at many failed banks
NYSSA SmartBrief | Nov 19, 2009
State and federal regulators are looking at the causes of bank failures case by case. In many instances, the banks failed because of a combination of management missteps and regulatory lapses. "We all could have done a better job," said Sheila C. Bair, the chairwoman of the Federal Deposit Insurance Corp. New York Times, The (11/18)
9. Bernanke backs giving regulators power to shrink banks
NYSSA SmartBrief | Nov 17, 2009
Ben Bernanke, chairman of the Federal Reserve, signaled his support for legislation that would give financial regulators authority to shrink companies or force them to divest if they pose a risk to the market or broader economy. "The supervisors should be allowed by law to insist that the company divest itself or shrink its activities," Bernanke said. He also voiced concern about reinstating the Glass-Steagall Act, which was repealed in 1999. The law split investment banking activities from retail-banking operations. Bloomberg (11/16) CNBC (11/16)
10. The 7 rules of success for new leaders
NYSSA SmartBrief | Nov 19, 2009
The early months of a new leadership position are when you're the most vulnerable, so it's key to develop a strategy on how you're going to learn your new role, Michael D. Watkins writes. You can be more successful by identifying problems that can be tackled early on without risk of failure, building alliances as soon as possible and developing networks to provide emotional support. Forbes (11/04)
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