Job losses are beginning to mount, and bonus pots are shrinking, but it's not all bad news for bankers - at least base pay might be going up (again) for some.
Well, the numbers for staff compensation for the first 9 months are out at Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan, Morgan Stanley and UBS, and the media is making hay that Goldman looks to have lost its bonus crown.
Here's Thomson Reuters' Global Debt League Table for 01/01/10 - 30/09/10.
We've been assessing top firms on 6 key criteria in order to establish what kind of prospects they (and the staff they employ) have in the foreseeable future.
Here's a little gem said to have come from the pen of PIMCO Managing Director Bill Gross.
By Jeremy Abraham
Here's the latest from our Highly Placed Professional.
The Financial Times reports that Macquarie has cut around 10%, or 60 staff, from its infrastructure investment business. According to the newspaper, the cuts come after the infrastructure unit was stripped out of the investment bank and the job losses occurred mainly in support areas.
The Financial Times reports that UBS is lobbying Swiss regulators in a bid to do away with the $1m cap on cash bonuses paid out to top earners.
Deutsche Bank today reported results for the third quarter and first nine months of 2010.
Bank of America on Thursday asked a federal judge to throw out a jury verdict finding it liable for fraud over defective mortgages sold by its Countrywide unit that resulted in a $1.27bn penalty.
Sergio Ermotti was challenged by Marc Walder, Chief Executive Officer of Swiss media company Ringier and Gianluigi Bianchi, Managing Partner for Europe of Wealth-X to undertake the ALS Ice Bucket Challenge.
Now this is hilarious - but all in a good cause!