Here's something amusing to make you smile.
Deutsche Bank published its first ever Group Remuneration Report Tuesday. The report has been published in order to provide transparency on employee compensation.
The Financial Times reports that Raphael Geys, a former London-based Managing Director over at Societe Generale who ran European fixed income sales, is suing the firm for $17.2m, claiming that he was fired in November 2007 as the bank deemed his employment contract overly generous.
The Financial Times reports that just weeks before Barclays seized the opportunity to buy Lehman's North American businesses on the cheap, the firm was busy casting an eye over UBS.
It was perhaps one of the most emotionally charged meetings ever attended by Wall Street's finest. Just a few days after JPMorgan Chase had made its initial offer to acquire Bear Stearns for $2-a-share, some 400 Bear Senior Managing Directors congregated at the firm's New York HQ building to be briefed on the takeover.
The Wall Street Journal reports that Lehman Brothers laid-off 14-year firm veteran Matthew Lee in June 2008, claiming he was just part of a right-sizing initiative.
Two years after Bear Stearns fell (or was pushed) into the arms of JPMorgan Chase, we thought it would be interesting to see what happened to the people mostly associated with the deal.
The Wall Street Journal reports that Bank of America has now agreed to disclose details of donations made with corporate funds to political parties and committees. The bank will not, however, disclose individual political contributions made by employees.
Here's an interesting interview Bloomberg TV ran Friday with Brad Hintz, a top-ranked analyst over at Sanford C. Bernstein, on the subject of that 2,200 page report published last week on the events which led to the bankruptcy of Lehman Brothers.
The Financial Times reports that Barclays Capital is now rolling out a 'partnership' organisational model, which will allow 'partners' to have 'more say in the bank's future direction and their pay will be more aligned with profitability'.