Page 2395 

LATEST

BarCap, Citi, Citadel, M Stanley, Och-Ziff, WallStreet.com

The Wall Street Journal reports that Barclays President Bob Diamond has moved to allay fears that there might be some US subprime skeletons in BarCap's cupboard. Diamond said that 'year-to-date performance through September at Barclays Capital, Barclays Global Investors and Barclays Wealth was strong with income and profits well ahead of last year'. The Evening Standard reports that analyst responses to Diamond's remarks were, however, muted. Simon Williams, from NCB Stockbrokers, said 'the market has been living in fear about Barclays for some time. This might be marginally positive news, but I am not inclined to read too much into it'.

ABN AMRO's Nominated Board Structures

Here's a note of ABN's proposed executive team now that the bank is being acquired by the Royal Bank of Scotland consortium. Rijkman Groenink, the bank's current CEO, is off on his bike (with his huge exit package), as expected.

Citi's Investment Banking Restructuring Announcement

Here's the announcement made Thursday by Citi which confirms that the firm is merging its banking and markets unit with alternative investments. Heading it up is former Morgan Stanley executive Vikram Pandit, who recently joined the company to run Alternative Investments. Out is Tom Maheras, who ran Citi's capital markets businesses.

Hedge Fund Manager Jailed Over Kidnap Plot

Hedge fund manager Albert Hsu, 43, co-founder of Anchor Point Capital (he no longer works there), has been sentenced to two-and-a-half years in clink for impersonating his ex-mistress and posting an advertisement on a website asking that someone abduct and rape her. (How sick is that ?)

ABN / RBS, BarCap, Goldman, JPMorgan, Morgan Stanley

The Times reports that ABN AMRO CEO Rijkman Groenink is to step down after the Royal Bank of Scotland consortium won the fight to take over his firm. A date has yet to be agreed, but it won't be long. But fear not, Groenink will walk off with a cool $36.7m in share options and various other bits and pieces. Not bad for screwing up.

HOT LIST

FEATURED