The Telegraph reports that investment banks are so busy on the M&A front that they are turning away clients who wants to do smaller deals.
BNP Paribas confirmed late last week that it has combined its FX Trading platform with Interest Rate Trading in order to improve efficiencies. Guillaume Amblard will become the global head of the new combined unit.
We've now had week 2 of the trial of former Enron bosses Ken Lay and Jeff Skilling. Here's what went down:
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After months of speculation, HSBC has restructured its investment banking unit. But John Studzinski, tipped by many to move off to another role in the HSBC group, is staying put and being given more time to make it right.
Wachovia has confirmed that Kevin Roche, the head of the firm's investment banking unit, is to leave for personal reasons. Roche, 47, will be replaced on 'an interim basis', by Stephen Cummings, who runs corporate and investment banking.
Our most recent bonus poll has captured the imagination of our readers, but many have mailed in saying that we are asking the wrong question.
The Daily Telegraph reported last week that Credit Suisse was mulling over the possibility of offshoring around 1,000 IT jobs in its investment banking unit (the unit formerly known as CSFB), mainly in London and New York, to India. The newspaper has now said that this looks like it may be only the tip of the iceberg.
The Financial Times reported earlier this week that DrKW had 'cracked down' on bankers' bonuses. According to the newspaper, the firm has deferred up to 50% of bonuses for significant numbers of staff, and paid others up to a third less than expected. Staff who work in equity sales and trading in London, Frankfurt, Italy and Asia are said to have been particularly affected. Some employees are thought to be up in arms about 'peanut', if not 'doughnut', bonus awards.