Reuters reports that Citi has been on the hire in London, agreeing 'multi-million dollar' guaranteed bonuses for a small group of top salespeople and traders.
Bloomberg reports that $65bn fraudster Bernie Madoff's lawyers are attempting to obtain the release of their client pending his sentencing on June 16th (he is expected to get 150 years). After admitting in Court Thursday that he engaged in a 'Ponzi' scheme which lasted over 15 years, Madoff is being held in New York's Metropolitan Correctional Centre.
Bloomberg reports that Oswald Gruebel, UBS's new CEO, has told staff in a memo that costs will still need to fall. And employees, particularly those in the investment bank, are concerned that this means further job losses.
There seems something a little perverse about under-pressure banks significantly increasing base salaries, but that's what many of them are now expected to do.
Bloomberg reports that Goldman Sachs has changed the way it allocates stock and stock options to employees, savings a cool $1bn in the fourth-quarter in the process.
Although bankers are more likely to be on their knees praying for their jobs or their bonuses these days, one senior US religious figure says that they should, in fact, be asking God to forgive their sins.
We offered you the chance to shake off those winter blues and enjoy dinner with a Sporting Legend courtesy of Eclipse Sports.
Global equity markets really loved what Citi CEO Vikram Pandit had to say about the performance of his firm earlier this week. Here's something sent in by one of our readers, who has been reading between the lines:
ABC News reports that the final tally of losses sustained by traders at AIG's London Mayfair offices may end up at $500bn (yes, that's half a TRILLION dollars).
Inga Lidaka from Bank of New York Mellon.