Dick Grasso, the former chairman of The New York Stock Exchange, has been ordered by a New York state supreme judge to pay back at least $36m of the controversial $187m severance and pension package he received when he stepped down in 2003. Grasso immediately confirmed that he will appeal the decision.
US Treasury Secretary (and former Goldman CEO) Hank Paulson has just sold his 9-room Manhattan apartment for $7.9m. According to The New York Post, Paulson purchased two adjoining units in 1998 for $2.88m, and converted them into one apartment.
The Post also reports that former Enron CEO Jeff Skilling, who gets sentenced Monday, could get 20 years after being convicted of Enron-related crimes.
Financial News reports that Calyon, the investment banking arm of French bank Credit Agricole, has confirmed that it is targeting the US with bringing in 40% of total revenues within 2 years. The unit will gear up in equity derivatives and M&A, but hasn't yet said how many staff it will recruit.
Deutsche Bank has agreed to buy UK asset manager Tilney Group from private equity group Bridgepoint, in a deal thought to be worth around $658m. Deutsche withdrew from UK asset management only 18 months ago with the sale of its UK business to Aberdeen Asset Management.
Finally, The New York Post says that it has obtained an e-mail written by Morgan Stanley economist Stephen Roach, in which he alleges he played a 'key role' in getting the US Treasury to change 'its dealings with China, and paved the way for the firm to do more deals in the booming economy'.