Bloomberg reports that, according to the coroner investigating his death, former ABN AMRO executive Huibert Boumeester rehearsed his suicide 3 months before he actually shot himself. The banker, 49, died of gunshot wounds and was found in woodland in Berkshire in June.
AIG CEO Robert Benmosche has written to his staff explaining the frustration he has in dealing with the government over executive pay, but reaffirming that he is not about to up and walk away'
Bloomberg reports that the compensation reform bill introduced by Senate Banking Committee chairman Christopher Dodd Tuesday has been described as 'a toothless tiger' which will do little to impact investment banker pay and rein in excesses. The bill still only provides corporate boards advisory responsibilities on compensation, and recommendations can still be ignored by management.
Goldman Sachs CEO Lloyd Blankfein claimed in a Sunday Times article that bankers do 'God's work'.
Here are the winners and the runners-up in each of our eight 2006 Best Place to Work categories:
Tim Linacre, CEO of Panmure Gordon, Oliver Hemsley, boss over at Numis, and Alex Snow, chairman of Evolution, have written a joint letter to City Minister Lord Myners, complaining that bailed-out UK banks are forcing clients to use their own investment banking services as the price of continuing financial support.
Andrew Ross Sorkin's excellent book 'Too Big To Fail' gives a blow-by-blow account of how the main players in the financial markets behaved during those tense times during September / October last year.
Here's an interesting note from an HR Director over at JPMorgan Chase which provides some useful insight into how compensation works there:
Bob Diamond, who stepped down as head of Barclays last year amid a rate-rigging scandal, is considering backing a firm started by former executives at the bank’s investment unit that was acquired by BlackRock in 2009, according to a person familiar with the matter.
Someone's back on the hire.
As EU regulators mull introducing the world's strictest bonus cap, the president of the European parliament told CNBC that the plan could put pressure on the U.S. to follow suit.