John Havens, Citi's head of institutional clients, thought it so important to remind his staff about the firm's 'compliance culture that he sent the memo below out in 25 languages! Cynics wonder just what 'nasty' prompted this latest epistle.
Here's the speech US Federal Reserve Chief Ben Bernanke gave Tuesday to the Council on Foreign relations.
New York State Attorney General Andrew Cuomo has now increased the pressure on Bank of America CEO Ken Lewis over the bonuses paid to his own and Merrill Lynch staff for their work in 2008.
Here's a memo that Citi CEO Vikram Pandit recently wrote to his staff that really is worth a read.
Here's a response to the 'Open Letter' we published last week from one of those bankers at Dresdner Kleinwort who are considering suing Allianz for non-payment of 2008 bonuses:
Bloomberg reports that former Federal Reserve Chairman (and now head of President Obama's Economic Recovery Advisory Board), Paul Volker, has suggested that commercial banks and investment banking activities should perhaps be split, re-instating the position as it was before the repeal of the Glass-Steagall Act in 1999.
Bank of America CEO Ken Lewis is a journalist's dream. He just can't seem to help himself. Lewis seems to have the uncontrollable urge to say just what's on his mind, and damn the consequences. And whilst we at Here Is The City make him right on a lot of the stuff he says, not everything is going to strike a cord with everyone (mostly US lawmakers).
The Financial Times reports that Bank of America is the first US bank to withdraw job offers made to MBA students who require H1-B visas for highly skilled immigrants.
Here's an interesting item that appeared last week on Jon Stewart's 'Daily Show'.
The following exchange took place on Craigslist - the investment banker's response is a classic!