Bloomberg reports that Royal Bank of Scotland's London HQ building in Bishopsgate was picketed by protesters Tuesday, who were angry at the bank's investment in fossil fuels.
The Times reports that around 30 New York-based traders at inter-broker dealer Tullett Prebon are said to have handed their notices in last week to go work for rival BGC Partners.
The Wall Street Journal reports that Morgan Stanley is planning to hire as many as 400 traders and salespeople in the coming months, as it increases its appetite for risk in a bid to generate bigger profits (the firm has lost money in its last 3 quarters).
Bloomberg reports that UBS has lost almost all of its healthcare investment banking team, including boss Benjamin Lorello, to Jefferies Group, in what is being described as a 'massive, premeditated raid'. At least 36 staff in the group are said to have quit between June 17th and June 21st.
Tragedy struck Canada's financial district Wednesday, after 8 people (7 from law firm McCarthy Tetrault and a messenger who was meant to be passing through) were caught in a lift in the Toronto Dominion Bank Tower in downtown Toronto.
Edward Liddy, AIG's CEO, confirmed that he was stepping down last week. He told Reuters that the job was 'easily one of the most challenging jobs in the world of insurance, but add in the public scrutiny, and it becomes a different order of magnitude'.
The New York Post reports that Jerker Johansson, the recently departed UBS Investment Bank CEO, has been accused of being 'out-of-touch', lacking the respect of his staff and losing control of them. According to the newspaper's sources, he is also said to have 'even at times appeared to nod off during meetings'.
UBS came out Wedneday and, as expected, confirmed that it will cut an additional 8,700 positions between now and 2010. Global headcount will come down from 76,200 to 67,500.
UBS has a new CEO. After two years out of the industry, Oswald Grubel has joined UBS as its new CEO.
Red faces over at UBS Wednesday, as the Tokyo Stock Exchange temporarily halted trading in gamemaker Capcom's convertible bonds, after the Swiss bank placed an erroneous order for some $31bn!