CityNews Odds & Ends

JP Morgan's loss, it seems, is Bank of America's gain. Mark Werner, JPM's former global head of the firm's futures and options business, is joining BofA as head of global markets. Werner is expected to focus on building out the bank's sales and trading capabilities and will work closely with BofA's international business.

Last week JP Morgan posted relatively weak third quarter profits and the performance of the bank's fixed income businesses are said to now be under the microscope. The bank is believed to be currently reviewing the performance of its fixed income group and some staff are expected to leave as a result.

Allianz Dresdner Asset Management is going through a name change yet again. The mutual funds firm is to be imaginatively renamed Allianz Global Investors.

It seems that US law firm mergers are back on the agenda. According to Hildebrandt International's MergerWatch, there were 44 completed US law firm mergers in the first three quarters of 2004 - 25% more than in the whole of 2003.

US venture capital deal values fell 26% in the third quarter, as deal volume hit an 8-year low. 601 deals were done in the period, with a value of $4.33bn.

And finally, staff at UK regulator The Financial Services Authority (FSA) continue to cross the bridge to the City proper. Despite the FSA hiking salaries to try to compete with the City big-boys, the regulator confirmed that 9.5% of its staff have quit this year, many to the private sector - that's around 4 a week.

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