Dealbreaker reports speculation that Deutsche Bank has started its long-expected cull of Global Markets staff this week. The firm is thought to be laying off between 5 - 7% of staff.
Business Insider reports that Morgan Stanley has confirmed that it is to exit prop trading.
It's now the turn of our very own Highly Placed Professional to come under the sixty second spotlight.
Simon Johnson, the former IMF economist, has an interesting article in 'The New Republic' which takes in the 'too big to fail' debate.
Staff at The Royal Bank of Scotland's Global Banking & Markets unit may well have had an average of $177,000 set aside for their compensation in the first 9 months of 2010, but CEO Stephen Hester has made it clear that this may not represent what they will make come year-end.
The New York Times 'DealBook' column reports that HSBC has confirmed that it has lost out on hiring at least 15 employees for its investment banking unit in Hong Kong as it can't offer 2-year bonus guarantees.
The Financial Times reports that, according to new research coming out of executive search firm Russell Reynolds, staff at European asset management firms are likely to receive bigger bonuses than their US counterparts this year.
The news last week that Germany's Bayeriche Landesbank and WestLB had called off their merger discussions after just 6 weeks comes as a major blow to WestLB, which needs to sell itself by the end of next year to comply with an EU competition ruling.
Italy's IPO Largest For Europe In 2010
When we found out that ING Direct USA President and chairman Arkadi Kuhlmann puts himself up for a vote by employees each year to see if they think that he should remain in his post, we wondered what approval rating employees at some of the biggest firms in the financial markets industry would give their bosses.