It was in the lates 1970s, and Goldman co-senior partner John Whitehead was addressing the firm's internal annual investment banking conference.
Slowly but surely, information about 'secretive' City pay deals is being exposed.
Reuters reports that Bank of America CEO Brian Moynihan can rest easy (at least this week), as the bank's Chairman Chad Holliday said at a conference in Abu Dhabi Monday that he supports the CEO '100%'.
Citigroup has reported its Q4 earnings. Net income came in at $1.2bn compared to $1.3bn in the same period in 2010.
Looks like there won't be much cash about this bonus season.
IFR Editor at Large Keith Mullin has an interesting article on Reuters concerning Nomura and its global aspirations.
It was in the early 1990s.
Here's a few links to some interesting Bloomberg, Guardian, New York Post and New York Times stories currently doing the rounds.
Ahead of the full-year results from Goldman Sachs on Wednesday it is worth taking a look at what the Wall Street firm paid its top flight staff in London in 2010.
On a normal balance sheet, there’s a profit and loss account.
JPMorgan, the world’s biggest investment bank, lowered its target for returns at that business and plans to cut $2.8bn in costs because higher capital requirements are crimping profit.
HSBC is suffering “horrible reputational damage” as a result of the exposure of the systematic aiding of tax avoidance in its Swiss subsidiary, the bank’s chairman has conceded before MPs.