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People & 'Challenges' - Credit Suisse, Morgan Stanley, UBS

Credit Suisse Canary Wharf

Former Credit Suisse broker Julian Tzolov, who pleaded guilty in 2009 to three counts of securities fraud and other offences in relation to the sale of auction rate securities, has now been sentenced to a total of four years in prison - two years for time-served, plus an additional two years.

Things Will Never Be The Same Again

Abandoned Factory

As news filters across the wires that Royal Bank of Scotland is thought to be on the verge of axing 200 investment banking jobs, market professionals are coming to realise that the impending round of job cuts is very different in nature to the usual downsizing that occurs when the economy hits a temporary bad patch.