Traders Desperate To Get 'The Clap'

She May Look Clean

The Evening Standard's 'City Spy' column reports that every time a trader leaves Royal Bank of Scotland (and most of them are apparently quitting under their own steam), he (or she) is said to get clapped off the trading floor.

We are told, however, that this actually only happens when a trader is being transferred internally to an overseas office. One banker told Here Is The City: 'It's become a bit of a tradition. How funny, though, that most of us are desperate to get the clap and leave good old Blighty! 

In the meantime, The Daily Mail reports that 29-year-old hedge fund executive Jordan Wimmer is this week at a Central London Employment tribunal hearing, seeking $6.7m from her former boss, Mark Lowe from Nomos Capital, after claiming that she was humiliated by a string of 'dumb blonde' jokes, and forced to attend meetings with hookers. She also claims that she once went to an adult entertainment club, and was forced to endure her boss enjoying himself with two lapdancers. Ms Wimmer left the firm in February this year, and is suing for sex discrimination, constructive dismissal and disability discrimination.

Bloomberg reports that Steven Begleiter, the former head of corporate strategy over at Bear Stearns, was just one card away from winning the $75m pot at the finals of The World Series of Poker last weekend. Like his old firm, however, he bet everything (in his case $22m) - and lost. Begleiter did finish in 6th place, however, taking home a $1.6m prize.

The Financial Times reports that Morgan Stanley only lost money trading on 5 days out of the 64 in the last quarter, and bagged over $100m in profits on 18 occasions. Goldman traders, however, only lost money on only one trading day in the period, and topped $100m profit on no less than 36 occasions.

The newspaper also reports that trading was halted for 86 minutes in almost 300 stocks on The London Stock Exchange Monday, after a computer server crashed.

And The New York Post says that over 100 pieces of property once belonging to Bernie and Ruth Madoff is to go under the hammer this weekend, including furs and golf equipment. Bernie's Mercedes sold last month for just $14,000.

Finally, the newspaper also reports that Lazard is considering establishing a 'multi-headed management structure' following the recent death of head honcho Bruce Wasserstein. Rumors abound that Ken Jacobs could become CEO, Steve Golub may become chairman, and senior banker Gary Parr could also be given a leadership role.

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