Reuters reports that Solengo Capital, a new hedge fund founded by former Amaranth trader Brian Hunter (yes, the man said to have lost over $6bn in just week last September in the wholesale gas market), has asked two blogs to remove the firm's marking materials from their websites.
Leonhard Fischer, the man recently appointed to head Credit Suisse's European business units, is off. He will become co-CEO of Belgium-based RHJ International, part of a private equity group.
Citigroup has entered the ABN AMRO deal mania - not as a predator, but by joining the group of firms advising Barclays Bank. That will put paid to the rumours that Citigroup boss Chuck Prince was buckling under the pressure from senior executives to make a hostile bid himself for the Dutch bank.
Warning - please do not attempt to try this at home. Well, not unless you have a 197 feet escalator on the premises.
The Wall Street Journal reports that Deutsche Bank looks set for some legal woes after luring away 16 fund managers from Amvescap. The group of 16 key staff are said to have been responsible for managing 20% of Amvescap's $465bn in assets.
Reuters reports that a US District Judge has confirmed a $14m arbitration award made to 3 former Merrill Lynch brokers, who were fired from the firm in October 2003 over claims that they were involved in market timing of mutual funds. The brokers always claimed that they had done nothing wrong, and said that Merrill's policy in this matter was vague and unworkable.
Fears are growing that, with big transformational mergers now on the horizon and large companies like Citigroup coming under pressure over costs, there's likely to be blood on the streets as staff who work in the financial markets come in the firing line and face the prospect of losing their jobs.
The Wall Street Journal has reported that Barclays President Bob Diamond indicated Tuesday that he had spoken to several bank shareholders who were 'pretty happy' about the prospect of the proposed merger deal with Dutch bank ABN AMRO. Diamond's comments came in the wake of reports that the deal might not be in the interests of Barclays investors as a merged unit could be a drag on profits until at least 2009.
Are you worried about losing your job ? Is all this talk about job cuts, hiring freezes and transformational bank mergers making you nervous ?
Are you in your 30s or early 40's and ready for marriage and babies, but still haven't found the right partner ?