Well, it wasn't all that long ago that most commentators were saying that the good times were most certainly over for the investment banking industry. But good third-quarterly profit figures from Bear Stearns, Goldman Sachs and Lehman Brothers have prompted a rethink.
Vault.com has just released the results of an online group of surveys into firms operating in the US. Here's the Top 10 league table for staff satisfaction in terms of 'quality of life'.
The Financial Times reports that Goldman Sachs is continuing to build up its staff numbers in India.
Associated Press reports that a former executive at Salomon Smith Barney / Citigroup was sentenced in New York Friday for between one and three years for bribery.
With Citigroup said to now earn more than 50% of its revenues outside New York, more attention than ever before is being paid to the company's European operations. The Sunday Times ran a (rather flattering) piece at the weekend, extolling the virtues of Sir Win Bischoff, chairman of Citigroup Europe, and the success of the company's European investment banking operations.
41 year-old Andrei Kozlov was gunned down in a mob-style contract hit Wednesday. He was first deputy chairman of the Russian Central Bank.
The Wall Street Journal reports that, according to a letter sent out by Global Alpha, a hedge fund in the Goldman fold which is open to wealthy clients and firm partners, the fund lost 10% of its value in August.
Bear Stearns has posted a 16% increase in third-quarter profits, with net income coming in at $438m. The firm is now the third Wall Street securities house to have posted its third-quarter numbers, and, like Goldman Sachs and Morgan Stanley, Bear's profits outperformed most analyst expectations.
Barclays Bank CEO John Varley said at an investor conference in New York earlier this week that his bank's wealth management operations should be able to generate £500m in profits before too long. The unit posted pre-tax profits of £172m in 2005.
Here's a league table of funds under custody at the large global custodians as at 30.06.06: