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UBS Reveals Its Hand

UBS provided an update on progress in transforming the firm and announced the firm's medium-term Group and divisional objectives at its Investor Day Tuesday.

Regulator To Have Power To Tear Up Banker Pay Contracts

Although the UK authorities have said that they do not intent to introduce legislation that caps banker pay, UK Chancellor Alisdair Darling has said that the new financial services bill will enable regulator The Financial Services Authority to set aside banker pay contracts which it deems encourage excessive risk taking.

'Sorry - But Christmas Is Cancelled'

Boozy Banker

Most firms cancelled their plans to celebrate Christmas in 2008, as they found that cash was in short supply. The year ended with huge asset writedowns, big losses, and largescale layoffs.

Bankers Forced To Take Second Jobs To Make Ends Meet


'I don't know where we are going to find the money to go to Barbados this Christmas. And we always go to Barbados', a slender thirtysomething female banker told Here Is The City. 'It's so distressing', she continued, 'What will I tell the children ? Do you really expect them to believe in Santa Claus now!',