Unless you work at Goldman Sachs, you probably don't know too much about Lloyd Blankfein, the man who, after current firm boss Hank Paulson is confirmed in as US Treasury Secretary, will run the Wall Street colossus. Here's a brief bio:
Well, we're almost half way through the bonus year, and thoughts are already turning to how much more staff are going to get by way of bonus for their efforts in 2006. And the smart money says that increases of a minimum of 25% on last year are on the cards.
Goldman boss Hank Paulson resigns Tueday to go work for George W Bush, and firm president and COO Lloyd Blankfein is named chairman and CEO on Friday. Just like that.
Good old cost-conscious JP Morgan Chase CEO Jamie Dimon can always be relied on for a good put down.
Things seems to have been going former CSFB IPO King banker Frank Quattrone's way recently, after years fighting with US prosecutors.
Dow Jones Newswires reported last week that Commerzbank has come out and confirmed that it is happy with its derivatives business. Rumours had been circulating that the business may have been in trouble.
Hot off the press Tuesday, Hank Paulson, chairman and CEO over at Goldman Sachs, has resigned.
The Times reports that Barclays Bank is upset about the persistent rumours that investment banking arm Barclays Capital has sustained heavy trading losses. And Naguib Kheraj, the Group Finance Director, has confirmed that the bank is considering asking UK regulator The Financial Services Authority (FSA) to launch an investigation into the false rumours.
Reuters reports that a UBS spokesperson has confirmed that around 50 staff have left its wealth management business in the UK to go work for a competitor. A further 30 staff are also thought to be preparing to resign.
Two former FX traders were found guilty over the weekend for their part in that $272m National Australia Bank (NAB) trading scandal.