Financial Times seeks U.S. banking and finance reporter

The Financial Times is looking for a dynamic and ambitious journalist to join its New York-based financial services team.

The US banking and finance reporter will lead coverage of Citigroup, a former Wall Street titan undergoing a painful restructuring that has not yet resonated with investors. This company is a priority for the FT and, as such, the successful candidate will need to build a deep network of sources within the bank and its counter-parties to break stories and write compelling analysis pieces as chief executive Jane Fraser tries to turn the lender around. They will also be the lead reporter on Bank of America and Wells Fargo, while working with the US banking editor to cover Chase, JPMorgan’s huge retail banking franchise, and Goldman Sachs’ troubled foray into consumer lending.

You will also be responsible for reporting on the state of the US economy via banks, credit providers and payments companies. With most economists predicting a recession next year, you will need to keep close tabs on the health of the American borrower. You must be able to synthesize data on the housing and mortgage market, consumer spending and credit quality, and pair it with on-the-ground reporting to generate a regular stream of stories on how the impending slowdown is playing out in the real economy.

In this role, you will take ownership of a core FT beat as the financial services industry goes through a period of intense uncertainty. Banks are currently benefiting from the Federal Reserve’s campaign to increase interest rates as they charge more for loans without offering better rates on deposits. But banks and other lenders are expected to suffer in the longer term as the economic downturn results in credit losses and depressed spending. These companies will be the “canary in the coal mine” as the US newsroom prepares for a recession.

You will work closely with the US banking editor, the US economics editor and colleagues covering banks in the UK and Europe. Ultimately, you report into the US financial editor.

Key responsibilities:

• Break news and write agenda-setting analysis on Citigroup.
• Be the lead reporter on how the economic slowdown in the US is affecting a wide range of banks, credit providers and payments companies including Chase, Bank of America, Wells Fargo, Visa, MasterCard and American Express.
• Generate stories on the impact of the slowdown on the American borrower.
• Work within a tight-knit financial services team in New York as well as colleagues in London and Europe.

Is this the role for you?

This position requires you to be comfortable with these essential skills:

• Track record of generating scoops
• Strategy for developing sources at a company that is hard to penetrate
• Ability to monitor a wide selection of companies and official data sources to generate smart stories on the health of the American borrower
• Excellent writing skills with a knack for translating banking jargon into plain English

You will be required to work weekend shifts as part of the New York rota. David Crow and Brooke Masters are available for informal discussions about the role and its responsibilities.

Please submit your application by Sunday 20th November 2022.

To apply, go here.