Swiss newspaper NZZ am Sonntag quotes Credit Suisse CEO Brady Dougan, who has confirmed that emerging from the financial crisis relatively unscathed has given the firm an edge in the hiring stakes.
The Charlotte Observer reports that, according to an unnamed 'knowledgeable source', 'the FBI in Charlotte and the US Justice Department are among the multitude of agencies' investigating the Bank of America takeover of Merrill Lynch.
The smart money says that US Treasury Secretary Tim Geithner will probably step down during Obama's second term (if he gets one), and head to Wall Street, where he can earn some decent money. And Geithner's most likely destination ? Goldman Sachs.
It was almost a year ago, in October 2008, when the founders of Here Is The City both decided to try their luck in the US stock market.
Bloomberg reports that former Merrill Lynch CEO John Thain wishes that he'd gone to IKEA when he reburbished his office, two conference rooms and a reception area soon after he was appointed in December 2007. The refurb, which cost $1.2m, caused uproar when the details were made public.
As Merrill Lynch CEO John Thain disappears into the sunset with his exit package, the media is going crazy about what it alleged to have been some profligate spending which Thain is said to have incurred to refurbish his New York North Tower office. The total cost of the refurb is said to have been $1.22m
The BBC reports that EU leaders meeting in Brussels on Thursday have agreed to act collectively to put pressure on the G20 to come up with a global solution on banker pay. The Corporation quotes Swedish Prime Minister Fredrik Reinfeld, whose country currently holds the EU presidency, who said: 'The bonus bubble burst tonight. We have agreed to say 'enough is enough', and we need to move away from the current culture of compensation based on short-term performance'.
Reuters reports that New York State Attorney General Andrew Cuomo has subpoenaed five current or former Bank of America main board directors, as he continues on his quest to find out who knew what about those 2008 Merrill Lynch bonus payments. The five individuals, William Barnet III, John Collins, Tommy Franks, Walter Massey, and Thomas May, are all said to have been members of the bank's audit committee at the time the bonuses were paid.
You got to hand it to the old dog. You can't teach him any new tricks - it looks like he knows them all already! Warren Buffett, that is.