Here's a post sent in by one of our readers:
With most of the top banks reporting strong profits for the third quarter, CityNews looks at how the firms are stacking up. UBS and Dresdner have yet to report.
Well, if you are a Managing Director and you work at Greenhill & Co, you will be told how much dosh your peers get when bonus time comes around. In fact, the firm issues a memo to all MDs, which details the bonus payments paid made to all staff at this level.
With bonus numbers currently being kicked around, the press is having a field day on the subject. Here's a run-down of what's being said.
Here are some interesting quotes from the Reuters Investment Banking Summit, which is being held this week at the Reuters Building in Times Square, New York.
The Wall Street Journal reports that Vietnamese authorities are now seeking $3.7m from ABN Amro, claiming that the bank was a party to illegal FX trading from November 2003 to February 2006, which resulted in losses to the state-owned Incombank. Police have apparently indicated that they now plan to prosecute local ABN staff who have been under house arrest for months, and an Incombank staffer who has been languishing in jail awaiting a prosecution decision.
J. Pierpont Morgan's 'personal appearance gave rise to legend
This one's bound to kick up quite a stink!
Aleksey Vayner (the man that can), that investment banking wannabee with the 11 page cv and video he sent in to support his job application to UBS Investment Bank, might have had the right idea after all. The New York Times 'DealBook' column reports that Morgan Stanley is participating in 'the ultimate internship contest', sponsored by Sony's Columbia Pictures. Eight intern positions are up for grabs at a variety of companies for (wait for it) the best video entries!
Huw Jenkins, CEO over at UBS Investment Bank.