Here's a note of ABN's proposed executive team now that the bank is being acquired by the Royal Bank of Scotland consortium. Rijkman Groenink, the bank's current CEO, is off on his bike (with his huge exit package), as expected.
Here's the announcement made Thursday by Citi which confirms that the firm is merging its banking and markets unit with alternative investments. Heading it up is former Morgan Stanley executive Vikram Pandit, who recently joined the company to run Alternative Investments. Out is Tom Maheras, who ran Citi's capital markets businesses.
Here's a little something that was posted on thestudentroom.co.uk - it just goes to show it's tough at the top.
While the London recruitment market appears to be going through a bit of a pause after 2 years of hiring frenzy, it's all hands to the pumps over in the US.
Hedge fund manager Albert Hsu, 43, co-founder of Anchor Point Capital (he no longer works there), has been sentenced to two-and-a-half years in clink for impersonating his ex-mistress and posting an advertisement on a website asking that someone abduct and rape her. (How sick is that ?)
The Times reports that ABN AMRO CEO Rijkman Groenink is to step down after the Royal Bank of Scotland consortium won the fight to take over his firm. A date has yet to be agreed, but it won't be long. But fear not, Groenink will walk off with a cool $36.7m in share options and various other bits and pieces. Not bad for screwing up.
French bank BNP Paribas took it in the neck early last year (probably a bit unfairly), when The Times came out and reported that City headhunters had been 'bombarded' with cvs from BNP staff after they received 'much smaller annual bonuses than they had been led to expect'. Some staff are said to have complained that they received 'doughnuts' by way a bonus - a term which means no bonus at all. Things, however, are likely to be different this year, as BNP Paribas staff might well be among those who are relatively better off when it comes to bonus payout time
As The Royal Bank of Scotland (RBS) consortium gets ready to claim its ABN AMRO prize, there's lots of talks about mass jobs losses, particularly over at the Dutch firm's wholesale banking operations. But, although 19,000 jobs overall are thought likely to be scrapped between the four banks (ABN, Fortis, RBS and Santander) in the next 12 - 18 months, don't expect a bloodbath - even in investment banking.
A number of firms are licking their wounds at the moment, many due to embarrassing third-quarter write-downs related to the recent market turmoil. But two firms are suffering perhaps a little more than the rest.
Channel 4 would like to hear from people selling a desirable family-sized home in London.