It had to happen.
Bloomberg reports that, according to an unnamed person familiar with the strategy, Morgan Stanley may hire as many as 500 private bankers next year who will sell 'jumbo mortgages and structured loans' to Morgan Stanley Smith Barney clients.
The 2007 takeover of ABN AMRO 'was clearly a big mistake'.
BREAKING NEWS - Reuters has reported that FIFA has confirmed that the England v Germany World Cup last 16 match is to be replayed, after officials decided that Frank Lampard's disallowed goal could have materially altered the result of the game.
Here's a note of last week's most read stories.
Bloomberg is citing a Spanish newspaper report which claims that Dieter Frerichs, a former Managing Director of two units of hedge fund K1 Group, has died of apparent self-inflicted gunshot wounds. His body is said to have been found Saturday on the Spanish island of Mallorca.
Here's an opportunity for recruitment consultants to vote for the firms which they believe are the 'Best' and 'Worst' in the financial markets to recruit for.
Citi hit the headlines again last week, after it was revealed that it had fired equities trader Michael McCarthy when it found out he was the mysterious 'Large' who is behind popular US website takeareport.com
Here's a copy of an e-mail obtained by Here Is The City sent by a trader who has recently been suspended by one of the large investment banks. Here, the trader 'pleads' with his boss for his job back.
Data provided by Thomson Reuters.
A dismal fourth quarter for the industry saw steep declines in revenues for banks' trading desks, especially those covering the fixed-income and credit markets, and banks haven't been able to get their message straight on what exactly is causing it.
International Monetary Fund chief Christine Lagard said Thursday the Swiss central bank's announcement that it would remove a 3-year-old cap of 1.20 francs per euro was "a bit of a surprise."
Ever wondered what goes down ?