It's turning out to be a bit of a bad news week over at Dresdner Kleinwort.
The Wall Street Journal reports that Jefferies & Co has agreed to pay $10.3m (without admitting wrongdoing) to settle allegations that a former EVP 'lavished gifts on mutual-fund traders and treated them to expensive trips to win their business'.
Remember that Morgan Stanley intern contest ? In association with Sony Pictures, the Wall Street firm (and others, including Gap and Yahoo) put an intern place up for grabs for the intern-wannabe who came up with the best video entry.
Bloomberg reports that 49-year-old Goldman Vice Chairman Suzanne Nora Johnson has resigned from the firm. Ms Johnson, a 21-year Goldman veteran, is the highest-ranking woman at Goldman, and is the second person from the firm's 23-member management committee to announce a departure in just two weeks. She will leave in mid-January.
Investment Dealer's Digest have come up with a list of 40 bankers/traders under 40 who are making their marks in the financial markets. Here's the list:
Dress codes have been back in the spotlight in the UK recently, following a British Airways decision not to allow one of its check-in staff to wear a crucifix necklace under her uniform.
Well, we were saying that 2007 is to be the 'year of the big bank merger'. But the first one has been announced before the year has even begun.
There will be a few red faces over at the Financial Times this morning (they can't be expected to get it right ALL the time!). Although Deutsche Bank boss Josef Ackermann might need resuscitating, and this writer nearly chocked on his cornflakes. And all because of what we assume is a typo.
There's likely to be 'trouble at mill' over at Dresdner Kleinwort again soon. And this time, it's because front office staff look like getting advised and paid their 2006 bonuses earlier than 'the little people'. (And most firms are trying to move away from that 'us and them' front / back office cultural split thing!)
New York - The US Drug Administration announced last week that ten defendants have now been charged with federal felony offenses associated with the illegal operation of meths labs throughout New York City and Long Island. One of the defendants is Michael Knibb, a 37-year-old VP who works for Citigroup in IT.