Like many firms, Morgan Stanley gives some of its employees access to career websites that come complete with CV databases. The idea, of course, is that the firm might be able to pick up some decent staff without going to the trouble of paying expensive recruitment fees.
Barclays shareholders voted 90% in favour of the $82.6bn offer the bank has on the table as it fights for control of Dutch rival ABN AMRO.
According to a recent survey undertaken by data provider EuroHedge, over 150 new hedge funds, attracting $13bn in assets, opened for business in the first 6 months of this year. That's up from 133 in the same period in 2004.
The Evening Standard reports that Guy Hands, the founder of private equity firm Terra Firma, has predicted that the upshot of the current credit crunch will be fewer deals in the near term.
A new poll published by eFinancialCareers reveals that 64% of UK London-based financial markets professionals feel that the job axe is about to start chopping heads. Almost half of these professionals (49%) indicated that they thought redundancies were 'very likely'.
Although still hedging his bets, Barclays President Bob Diamond all but waved the white flag Monday, acknowledging that the Royal Bank of Scotland consortium is likely to win out in the fight for Dutch bank ABN AMRO.
So, you thought all that stuff about employee benefits was a bit boring ? Well, for the most part, it is - all that 'nonsense' about life cover, private healthcare, pensions and the like (you know, the kind of stuff you don't need to worry about unless you're either dead, sick or retired). But the more enterprising firms are now beginning to cotton on to the fact that a happy employee is a more productive employee. And so 'love' is being added to the flexible benefits package.
Here's a copy of the letter dated 4th September to Stephen Green, HSBC's Executive Chairman, from Eric Knight, Knight Vinke Asset Management and Dennis Johnson of the California Public Employees' Retirement System (CalPERS).
Knight Vinke Asset Management, the activist shareholder group, has put the boot in over at HSBC, issuing a statement which confirms that it has written to the bank's board 'requesting that it undertake a fundamental review of the group's strategy in consultation with its shareholders'. The activist investor is also said to have raised a number of unspecified corporate governance concerns and has asked the board to consider these as part of the review.
Just when we thought it might be safe to get back in the water - Barclays Capital is planning to step in again and provide $1bn in rescue finance to bail out Mainsail II, a structured investment vehicle (SIV) managed by London-based hedge fund Solent Capital.