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Derek Loosvelt

Derek Loosvelt is Vault's senior finance editor. Derek has a BS in economics from the Wharton School at the University of Pennsylvania and an MFA in creative writing from the New School. His writing has appeared in several online and print publications. Previously, he worked in investment banking as an M&A analyst and associate.

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All Posts by Derek Loosvelt

1,825 Days Later: Wall Street After the Crisis

by Derek Loosvelt  |  September 18, 2013

Five years ago this week, Lehman Brothers infamously filed for bankruptcy, Merrill Lynch was force-fed to Bank of America, and 80 percent of AIG was purchased by the Federal Reserve Bank of New York in exchange for $85 billion in debt in what was the largest government bailout in U.S. history. In other words, this week marks the fifth anniversary of the financial crisis of 2008.  In the ensuing months of that brutal September '08, hundreds of thousands of Wall Street workers lost their... Read More >

The 16 Most Disgruntled Analysts on Wall Street

by Derek Loosvelt  |  September 11, 2013

Last week, Vault released its latest Vault Banking 50, a ranking of the best investment banks to work for in North America. And for the first time, a non-bulge-bracket bank ranked No. 1 in the rankings: The Blackstone Group. As mentioned, Blackstone's rise to the top spot underlined the fact that many of the largest Wall Street banks have grown somewhat out of favor with jobseekers as well as with clients and employees, not to mention the public, which has little to no empathy for the... Read More >

50 Best Investment Banks to Work For

by Derek Loosvelt  |  September 03, 2013

Earlier this year, Vault surveyed nearly 3,500 banking professionals, asking them to rate their peer firms in terms of prestige, as well as their own firms in several quality of life categories, including compensation, hours, culture, business outlook, training, and overall satisfaction. A weighted formula* was then applied to these ratings to create the 2014 Vault Banking 50-a ranking of the best firms to work for in investment banking. And so, below, in descending order, are the... Read More >

Death of BofA Intern Shines Brighter Light on Killer Workweeks

by Derek Loosvelt  |  August 21, 2013

Last week, a 21-year-old Bank of America intern in London died after reportedly working three all-nighters in a row. Although the cause of death has not yet been determined-there have been reports that the investment banking intern, Moritz Erhardt, suffered from epilepsy, and neither BofA nor anyone outside the bank has substantiated rumors that he worked 72 hours straight-the news is shining a rather bright light on the long workweeks and high stress that young bankers routinely deal with... Read More >

Will the London Whale Swallow Jamie Dimon’s Swagger?

by Derek Loosvelt  |  August 14, 2013

Yesterday it was just a rumor but today it became official: the U.S. has filed criminal charges against two ex-JPMorgan traders in connection with a controversial trading position/scandal commonly referred to, for its largesse, as the London Whale. The position (a trade in credit derivatives) went extremely south last year and so far has cost JPMorgan more than $6 billion. What the U.S. is alleging is that the two traders attempted to hide the losses and in the process committed wire fraud... Read More >

Fab Fab Tourre and Wall Street’s Ongoing Image Crisis

by Derek Loosvelt  |  August 06, 2013

Just over a handful of years ago, working on Wall Street carried nearly unmatched prestige for undergraduate and MBA students. It was widely accepted that only the best and brightest from the top schools in the country were admitted into skyscrapers housing the likes of Goldman Sachs, Morgan Stanley, Merrill Lynch, and a defunct firm formerly known as Lehman Brothers. But come 2007, when it was discovered that those same firms played more than a small part in bringing the U.S. economy to... Read More >

You Don't Have to Work on Wall Street to Work on Wall Street

by Derek Loosvelt  |  July 18, 2013

To many people, the phrase "Wall Street" conjures a young Michael Douglas, hair slicked-back, red suspenders over his shoulders, manicured fingernails curled around a microphone, standing at the head of a classroom filled with eager MBA students as the words "Greed is good" proudly spews forth from between devil-red lips. To others, it conjures a line of imposing skyscrapers inside of which clean-shaven men in blue and gray Italian wool lean back, place their feet on desks, and speak into... Read More >

On Wall Street You Might Get Vacation, But You Can’t Take It

by Derek Loosvelt  |  July 03, 2013

Investment banking analysts and associates notoriously work very long hours. It's not uncommon for a corporate finance analyst at a prestigious bank in New York to regularly work more than 90 hours each week, or for an M&A or restructuring associate to put in more than 80 hours week after week. And it's not even all that unusual for first-year analysts at busy Wall Street firms to log in more than 100 hours in a single week (which means, on average, working more than 14-hour... Read More >

How To Have Summer Fridays If You Don't Have Summer Fridays

by Derek Loosvelt  |  June 21, 2013

Many moons ago, when I worked as an associate for a small investment bank in New York, there was one particular managing director who commonly scheduled Friday morning meetings during the summer in Connecticut, not far from where he lived. I was often involved in these meetings, which meant I had to wake up rather early in my East Village apartment on those summer Friday mornings to get to Grand Central Station and take a Metro North train heading north, to Connecticut. This wasn't always... Read More >

Where's the Love for Working Fathers?

by Derek Loosvelt  |  June 12, 2013

Often forgotten in the conversation about the difficulty of raising children while cultivating a career is the other half of the equation: working fathers.  Of course, historically, since working fathers have been the primary breadwinners of American families and mothers the primary caregivers, there hasn't been much sympathy for fathers when it comes to helping them achieve a better balance between their work and home lives. However, given that women are now increasingly becoming the... Read More >

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