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royalflush
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Posts: 64
Joined: August 5th, 2008, 8:11 am

Lost my job - What's next?

November 19th, 2014, 11:53 am

OK, I'm 47 now and I worked for almost 20 years as an equity derivatives trader in Germany. 10 of those 20 years I was head of Desk in 3 Banks. I lost my job now and find that it's pretty hard to step in somewhere. My interest is on the commodity side but nobody even reacts on my mails/phonecalls. Anybody an idea how to get into contact with commodity trading firms / producer? Would they consider hiring a guy like me?Has someone faced similar experience? What did you do when you were in such a situation?Kind regards
 
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rmax
Posts: 6080
Joined: December 8th, 2005, 9:31 am

Lost my job - What's next?

November 19th, 2014, 1:25 pm

Sorry to hear. I have not had direct experience. I have worked with a number of senior ex-traders who have all ended up in Consulting or System Sales roles selling trading systems etc. It does not sound as though that is where you want to go, but just a thought.
 
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Gamal
Posts: 2362
Joined: February 26th, 2004, 8:41 am

Lost my job - What's next?

November 19th, 2014, 2:02 pm

Risk management?BTW - how can you loose your job in Germany?
 
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daveangel
Posts: 17031
Joined: October 20th, 2003, 4:05 pm

Lost my job - What's next?

November 19th, 2014, 2:18 pm

sorry to hear this. you should try the buyside. Nowadays it seems even risk people are getting snooty about jobs.
knowledge comes, wisdom lingers
 
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DominicConnor
Posts: 11684
Joined: July 14th, 2002, 3:00 am

Lost my job - What's next?

November 19th, 2014, 4:14 pm

How much commodities work have you done ?
 
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royalflush
Topic Author
Posts: 64
Joined: August 5th, 2008, 8:11 am

Lost my job - What's next?

November 20th, 2014, 6:44 am

Risk management is a good topics. The issue with this is that they ask for experience in Risk Management. As I am a trader I know the basic concepts of course but other candidates who have worked in this area before seem to have an advantage.Loosing job in GER is possible. They will give you a hard time until they find some errors in your work. So it comes down to an offer which I took before all this starts. That gives me some freedom until I know which way I will go.
 
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royalflush
Topic Author
Posts: 64
Joined: August 5th, 2008, 8:11 am

Lost my job - What's next?

November 20th, 2014, 6:58 am

- Hedging Delta1-, volatility- and light exotics exposure coming from customer activities in energy (CL, CO, NG), precius metals and softs. Would like to understand how gas and electrcity producer manage their exposure.
 
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royalflush
Topic Author
Posts: 64
Joined: August 5th, 2008, 8:11 am

Lost my job - What's next?

November 20th, 2014, 7:03 am

Buyside is something that I look into as well. It seems like with switching to risk management: They look for dedicated experience in asset management.
 
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Gamal
Posts: 2362
Joined: February 26th, 2004, 8:41 am

Lost my job - What's next?

November 20th, 2014, 7:03 am

QuoteOriginally posted by: royalflushLoosing job in GER is possible. They will give you a hard time until they find some errors in your work. So it comes down to an offer which I took before all this starts. That gives me some freedom until I know which way I will go.I am based in Germany too. Is there a problem with finding a job with six months notice?
 
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royalflush
Topic Author
Posts: 64
Joined: August 5th, 2008, 8:11 am

Lost my job - What's next?

November 20th, 2014, 7:09 am

Not that I am aware of.
 
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Gamal
Posts: 2362
Joined: February 26th, 2004, 8:41 am

Lost my job - What's next?

November 20th, 2014, 7:27 am

Six months notice is typical in Germany, I had it in all my contracts. In all banks I know they hire in risk management. A trader with 20Y experience and executive position shouldn't have any problems with finding a job.
 
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royalflush
Topic Author
Posts: 64
Joined: August 5th, 2008, 8:11 am

Lost my job - What's next?

November 20th, 2014, 7:45 am

I keep you posted
 
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mit
Posts: 1169
Joined: February 5th, 2005, 4:52 pm

Lost my job - What's next?

December 1st, 2014, 12:42 am

why not just retire. why seek work that will be inferior to previous roles. buy a house in hawaii and open a cafe there..
 
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daveangel
Posts: 17031
Joined: October 20th, 2003, 4:05 pm

Lost my job - What's next?

December 1st, 2014, 4:03 pm

QuoteOriginally posted by: mitwhy not just retire. why seek work that will be inferior to previous roles. buy a house in hawaii and open a cafe there..money. also, not Hawaii may not be everyone' cup of tea
knowledge comes, wisdom lingers
 
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bearish
Posts: 5621
Joined: February 3rd, 2011, 2:19 pm

Lost my job - What's next?

December 2nd, 2014, 2:16 am

QuoteOriginally posted by: daveangelQuoteOriginally posted by: mitwhy not just retire. why seek work that will be inferior to previous roles. buy a house in hawaii and open a cafe there..money. also, not Hawaii may not be everyone' cup of teaAnd the unstated assumption that running a cafe is not like real work is an affront to millions of cafe operators out there (admittedly, I don't expect many of them to frequent this forum).
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