Exclusive: Jonathan Powell Leaves Goldman Sachs for HSBC Asia
- FX dealer Jonathan Powell has decided to move eastward, another example of the ongoing trend amongst key banking personnel.
One of the key foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term professionals at Goldman Sachs, Jonathan Powell has become the latest key executive to move eastward, Finance Magnates has learned. As the need for a qualified talent pool in banking services in Asia continues growing, the former London-based FX dealer at Goldman Sachs, Barclays Capital and Dresdner Bank has now moved to HSBC Asia.
Test your knowledge, win a prize! Take the Finance Magnates quiz...
Mr Powell had spent over 3 years at Goldman, before making the move. Notably, he was one of the more high-value claimants against Commerzbank in a post-financial crisis case against the German lender, which was denying bonus Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term to about 20 of the former employees of Dresdner bank.
The London banker’s claim of about €1.7 million was one of the highest in the case, which was lost by Commezbank in 2012. An appeal by the German lender was denied in 2013 and the bank was forced to pay over €60 million in bonuses.
The move represents another example of the latest trend in high profile baking jobs. While London remains a lucrative place for financial industry professionals, a number of major banks have been expanding their operations in the Far East in response to growing demand for their products.
While having to relocate from London can be an unpleasant experience, a number of banking executives are making the move, perhaps anticipating the higher potential for earnings in the Far East in the coming decades.
HSBC Asia was contacted by Finance Magnates reporters about the move, however at the time of publication no official response has been received.
One of the key foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term professionals at Goldman Sachs, Jonathan Powell has become the latest key executive to move eastward, Finance Magnates has learned. As the need for a qualified talent pool in banking services in Asia continues growing, the former London-based FX dealer at Goldman Sachs, Barclays Capital and Dresdner Bank has now moved to HSBC Asia.
Test your knowledge, win a prize! Take the Finance Magnates quiz...
Mr Powell had spent over 3 years at Goldman, before making the move. Notably, he was one of the more high-value claimants against Commerzbank in a post-financial crisis case against the German lender, which was denying bonus Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term to about 20 of the former employees of Dresdner bank.
The London banker’s claim of about €1.7 million was one of the highest in the case, which was lost by Commezbank in 2012. An appeal by the German lender was denied in 2013 and the bank was forced to pay over €60 million in bonuses.
The move represents another example of the latest trend in high profile baking jobs. While London remains a lucrative place for financial industry professionals, a number of major banks have been expanding their operations in the Far East in response to growing demand for their products.
While having to relocate from London can be an unpleasant experience, a number of banking executives are making the move, perhaps anticipating the higher potential for earnings in the Far East in the coming decades.
HSBC Asia was contacted by Finance Magnates reporters about the move, however at the time of publication no official response has been received.