Reuters reports that Citi CFO John Gerspach said at the Credit Suisse Financial Services Conference in New York Thursday that his firm will pay employees competitely in 2009, and that staff will not be disadvantaged in terms of market rates this year either.
The White House has tried to do some damage limitation, after President Obama appeared this week to bless the bonuses given to Goldman CEO Lloyd Blankfein ($9m) and JPMorgan Chase CEO Jamie Dimon($17m)
IDC Financial Insights recently released a new report, which covers the company's top 10 predictions for the EMEA banking industry in 2010.
Here's the latest from Our Highly-Placed Professional
The Financial Times reports that the so-called Merrill 'Milkshake Murder' case has taken another dramatic turn.
Reuters reports that Goldman CFO David Viniar has revealed details of the firm's 'magic' compensation formula - there ain't one!
Bloomberg reports that an examiner tasked with undertaking a report on the bankruptcy of Lehman is to go to court to ask a Judge to unseal its contents, after many of the people interviewed for the probe refused to agree to lift their demands of confidentiality.
We have received several e-mails from readers who are not always receiving our regular Here Is The City News e-mail alerts.
The Wall Street Journal reports that Bank of America CEO Brian Moynihan received $5.1m in restricted stock units for his work in 2009.
Here's our rankings for the best-positioned large investment banks for 2010, based on the strength of the firms' balance sheets, their ability to pay market rate compensation, and bench-strength of their staff.