Bloomberg reports that BNP Paribas retail banking head Francois Villeroy de Galhau has admitted that any further reduction in bonus payouts is likely to result in staff quitting the bank for rival firms.
Here Is The City is a group of websites with over 350,000 readers.
Apparently Hong Kong.
You work hard all year looking forward to three weeks holiday over Christmas, only to fall ill on the second day in - bedridden for the entire period. And, of course, you conveniently recover the day before you are due to start back at work!
With one or two notable exceptions, the majority of firm bonus pots have increased this year, although some 45% of bankers are said to be dissatisfied with their payouts.
The Boston Herald reports that actress Lindsay Lohan is suing E-Trade for $100m, claiming that the firm has improperly used her 'likeness, name, characterization and personality without permission' in a promotional ad which debuted during Super Bowl XLIV last month.
The Wall Street Journal reports that the 'golden handcuffs' put in place by Nomura to retain the Lehman bankers that the firm brought on board following the collapse of the US investment bank, are due to come off soon.
Remarks by FDIC Chairman Sheila C. Bair To the National Association for Business Economics, Washington Policy Conference; Arlington, Virginia.
The London Evening Standard reports that Terry Smith, the CEO of broker dealer Tullett Prebon, has admitted that many of his traders are rethinking their plans to flee the UK to avoid the tax increases being imposed next month.
It's 14th October, 2008. Hank Paulson (US Treasury), Ben Bernanke (Federal Reserve), Tim Geithner (New York Fed) and Sheila Bair (FDIC) had been busy trying to save the financial system from going to hell in a hand cart.