That McKinsey Report commissioned by New York City mayor Bloomberg forecasts that, unless the regulatory and legal framework changes in the Big Apple, 60,000 financial markets jobs could be at risk in the next 5 years. And some are now saying that, whatever they do in New York, they will never make up lost ground.
Don't marry for 'love' - just do it for money! That's the message for rich bankers who wish to protect their bonuses from ex-spouses.
Bloomberg reports that Morgan Stanley is playing down the recent loss of four senior investment bankers. Paulo Pereira, the firm's European head of M&A, is off to join former colleagues Joseph Perella and Terry Meguid at their investment banking boutique.
Todd Thomson, the head of Citigroup's wealth management businesses, was fired last week after CEO Chuck Prince allegedly became upset at the way he splashed the cash.
Despite seeing his 2006 compensation rise 30% to a mind-blowing $48m, Merrill Lynch boss Stan O'Neal wasn't the highest paid CEO on Wall Street last year.
Bloomberg reports that Barclays Capital is aiming for up to 20% growth. Speaking at The World Economic Forum in Davos, Switzerland, Barclays President (and BarCap CEO) Bob Diamond said that 'there is still 15 - 20% growth ahead'. And he mentioned that the firm would need to 'build on our position' in the US if it was to achieve its goals.
There has been much uncertainty surrounding the employment status of agency workers in recent years. However, two recent EAT (Employment Appeals Tribunal) decisions should reassure end-users that they are still worth taking on in appropriate circumstances.
The graduate recruitment team of a well known US securities firm is said to been over at Oxford University fairly recently, on the make for good grad hires. As is usual in such circumstances, the firm took a senior banker along to bang the drum. He was apparently scheduled to give a 10 minute talk.
possibly Roger Jenkins, who heads up principal investments and private equity over at Barclays Capital.
Our friends across the pond have finally woken from their slumbers and realised that the continuing unfriendly business regulatory and legal environment in the US is likely to mean that New York becomes increasingly marginalized. A new report undertaken by McKinsey, estimates that, unless things change, The Big Apple could lose $25bn in cash flows and that up to 60,000 jobs in the financial markets could be lost there in the next 5 years.