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Top Firm Reminds Employees To Act Responsibly

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.

Ex-Fed Chair Suggests Splitting Commerial & Investment Banks

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.

Big Bank Boss Won't Work For $1 - Apparently He Can't Afford It

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).

Top Firm Withdraws Job Offers

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.