Another firm in the midst of an overhaul.
Even by investment bank standards, that was an expensive steak dinner.
About 6,000 external contractor positions will also be scrapped.
TPG Capital hired former Goldman Sachs executive Jon Winkelried as co-chief executive officer to expand the firm’s offerings as it contemplates going public.
Deutsche Bank has said that it plans to suspend dividends for two years as co-Chief Executive Officer John Cryan seeks to improve capital levels and returns by cutting costs.
Herve Falciani, the Frenchman wanted on charges of industrial espionage in Switzerland, has opted to skip his trial at the country’s top court and instead plead his case before a jury of journalists at a French hotel, less than a mile from the Swiss border.
Heavy job losses are feared in the City of London after Deutsche Bank set out plans to boost its performance by axing 15,000 roles and selling off operations employing a further 20,000.
Sad to report
Stress is a natural part of living and a certain level of stress can be healthy and help to drive performance, but excessive stress can be harmful and lead to other issues.
The $2.08tril wiped off global equity markets on Friday after Britain voted to leave the European Union was the biggest daily loss ever, trumping the Lehman Brothers bankruptcy during the 2008 financial crisis and the Black Monday stock market crash of 1987, according to Standard & Poor's Dow Jones Indices.
First signs Brexit will hit jobs.
Online protest-petitions aside, the people have spoken and the UK is now facing an exit from the European Union. What might this mean for the City, and Britain’s businesses more broadly?