As London prepares to hunker down for the onslaught of G20 protesters, the worry now is that financial markets professionals, already angry that they have been made scapegoats for the financial crisis, may decide to stand their ground and fight back if incited to do so by the unruly mob.
Bloomberg reports that Commerzbank has confirmed that it is to eliminate some 2,200 staff from its Frankfurt HQ headcount following the acquisition of Dresdner Bank and investment banking arm Dresdner Kleinwort. Staff numbers will come down to around 9,200.
CNBC reports that, according to a JPMorgan client research note, global banks will probably need to writedown an additional $17bn this year.
We wondered whether all this talk about capping pay would result in more financial markets professionals leaving the larger institutions who had received bailout funds or, indeed, the industry altogether.
The Group of G20 protesters expected to descent in droves on the City this week appear to be a very well-organised lot.
'Private & Extremely Confidential
Cityboy is co-hosting a fund-raiser on April 23rd, trying to raise up to £80,000 to rebuild a school in Kenya.
Reuters reports that all is not well over at Nomura. It seems that 'concerns over pay disparity', 'job security' and culture clashes are not making for a very happy ship.
Swiss newspaper Sonntag reported over the weekend that UBS is expected to announce additional asset writedowns and job losses in the coming days.
US President Barack Obama met with around 15 senior banking bosses Friday. Detailed below are some of the remarks made by those present at the meeting:
Here Is The City is delighted to unveil our fully-responsive and our German website.
JP Morgan reached a $5.1bn (£3.2bn) settlement with the US mortgage company regulator on Friday as the bank continues to negotiate with the justice department over what is expected to be an even larger fine related to bond sales.
There's nothing like a big scandal.