Bonuses Are Expected To Return To Pre-Crisis Levels In....


Australia's Daily Telegraph reports that Australia's banking industry is going through boom times - so much so, in fact, that firms are having to offer pre-crisis level compensation packages in order to retain existing employees and entice staff away from rivals. The newspaper estimates around 4,000 bankers will receive total comp of around $900,000 in 2010.

One banker told Here Is The City: 'Strewth! I didn't even know they had 4,000 bankers in Australia!'. When it was pointed out that around 40,000 bankers ply their trade out there, he remarked: 'I always wondered what became of the descendants of all those criminals!'.

In the meantime, The Wall Street Journal reports that Standard Chartered has revealed that its 6-person executive board received some $25.3m in salary and bonuses for their work in 2009.

The newspaper also reports that Abdelkerim Karim and Sam Ruiz, two former Lehman Brothers traders, are to become co-heads of equities over at Nomura International.

And Reuters reports that investment banks have made some $567.2m in fees this year advising AIG, as the insurer has sold business worth $51bn to pay down some of its US government bailout. And CNBC reports that Morgan Stanley is to be lead underwriter and advisor on the sale of the US government's 27% stake in Citi.

The Financial Times reports that hedge funds like BlueCrest Capital, Man Group and Winton Capital are thought to have made hundreds of millions betting on the decline of value in sterling this year.

Finally, Bloomberg reports that shares in hedge fund GLG Partners finished up over 14% higher Friday, on rumours that Man Group is considering making a bid for the firm.

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