Some bankers / traders will have to wait another 12 months for all their variable pay.
Reducing expenses and culling low performers.
Goldman Sachs plans to eliminate more than 5% of traders and salespeople in its fixed-income business, cutting deeper into those operations than an annual company wide cull that has already begun, according to a person briefed on the matter.
Citigroup is in talks to hire Armando Diaz as global head of cash equities trading, according to a person with knowledge of the matter, who asked not to be identified discussing personnel.
A former Deutsche Bank managing director at the centre of the U.K.’s biggest insider trading case said nerves, and the aftermath of a night of drinking, resulted in his misleading answers to police and regulators during his initial questioning in 2010.
Nomura and United Overseas Bank are among the banks considering bids for Barclays’ Singapore and Hong Kong private-wealth business, according to people familiar with the matter.
Guy Hands' private equity firm, Terra Firma, has announced its chief executive is planning to step down.
Bank of New York Mellon must face a lawsuit seeking to hold it liable for causing $1.12bn of investor losses by failing to properly monitor five trusts backed by toxic residential mortgages, a Manhattan federal judge ruled.
Sad to report.
Morgan Stanley has appointed Saher Bin Jung as head of trading for sterling corporate bonds in London, according to a person familiar with the matter.
According to Wealth-X, these universities produce the most billionaires.
European banks either sold or begun working on deals to dump more than €100bn of bad loans in the first half of the year.
Bonus pools for many Wall Street traders and dealmakers this year may not shrink as severely as expected just a few months ago, according to compensation consultant Johnson Associates Inc.