Here's a copy of a memo new UBS chairman Kasper Villiger sent to staff earlier this week.
And who said that staff training and development goes by the wayside when the going gets tough ? Well it doesn't at Citi, it seems.
According to a new report published by Greater London Authority Economics, London's Gross Value Added growth rate should fall 2.7% in 2009, and will probably stay negative in 2010, before rising 1.7% in 2011.
The Observer reports that senior bankers at UBS have seen their base pay rise, mostly by 15% - 20%. Speculation that base salaries for MDs have doubled is, however, thought to be wide of the mark.
The Independent On Sunday reports that 'senior bankers and board members' at Deutsche Bank are said to be mulling over leaving the firm, 'after heated rows over....bonuses'.
Billions in debt, with services showing no signs of improvement and unemployment on the rise, we asked you if you thought UK Plc was finished.
Fortune has just published its annual list of the largest 500 US corporations in terms of revenues as at the end 2008.
Nomura posted a $2.2bn loss in the quarter ended 31st March. The loss, its fifth on the bounce, came in higher than analyst expectations, and was caused by falling brokerage revenues, a drop-off in investment banking fees, increased costs related to last year's Lehman acquisition and investment losses (some Madoff-related).
New York State Attorney General Andrew Cuomo has completed his investigation on those bonuses paid to Merrill Lynch staff last December. And the investigation have lifted the lid on the political machinations that surrounded the Bank of America / Merrill Lynch merger, and suggests that BofA was forced into the deal in the national interest. There is also some juicy stuff about the failure to reveal the $15bn in losses Merrill eventually posted in the fourth-quarter.
The Financial Times reports that the European Commission is likely to recommend that banker bonuses and exit packages should be capped, as bureaucrats try to get to grips with the backlash against banker compensation.