Citi CEO Vikram Pandit has been busy burning the midnight oil, putting pen to paper for his staff again.
You always know there's trouble ahead when your CEO begins a memo to staff: 'To my teammates'.
OK, so the markets have been in turmoil and panic has been in the air.
Here's something from the mouth of Barclays CEO Bob Diamond earlier this week:
WASHINGTON – The Financial Industry Regulatory Authority (FINRA) has announced that it has fined Citigroup Global Markets, Inc. $500,000 for failing to supervise Tamara Moon, a former registered sales assistant at the firm's branch office in Palo Alto, California. Over an 8 year period, Moon misappropriated $749,978 from 22 customers, falsified account records and engaged in unauthorized trades in customer accounts.
Here are some links to a few interesting BBC, Bloomberg and CNBC articles currently doing the rounds.
Hmmmm. This one really does sound too good to be true.
It's a good job that Carlos Slim is the richest man in the world - how else could you afford to lose $8bn of your net woth in 4 short days ?!
Mohamed El-Erian, chief executive officer at Pacific Investment Management Co., talks about Standard & Poor's downgrade of its U.S. credit rating and the outlook for financial markets.
The Telegraph reports that, according to some of its headhunting sources, 'where private sector companies in a range of industries would have once jumped at the chance of hiring ex-bankers, many now will not touch them with a barge pole'.
Goldman Sachs has $7bn invested in private equity that it might have to sell at a loss. For Morgan Stanley, it’s $2.5bn.
Barclays asked that a federal judge in New York handle claims it hid the role of high-frequency traders in its dark pool, saying the evidence in the case is 'incredibly complex' and includes millions of trading records.
Fed up of getting lame gifts in your Christmas cracker ? That could all change if you have a spare £4m that is.