Reuters reports that Bank of New York posted its first quarter profits Wednesday. They came in up 3% at $434m.
as voted by the recruitment consultants who took part in our recent poll is.....
There's a raft a reports in the media Tuesday about Katharina Tofeji, the 38-year-old London-based trader who is seeking almost $2.8m from French bank BNP Paribas, claiming that she was forced from her job because of a culture of sexism. Ms Tofeji is claiming breaches of the bank's maternity and flexible working policies, sex discrimination and constructive dismissal.
as voted by our readers is......
Citi CEO Chuck Prince may well be wielding the job axe (17,000 positions are to go in the first round of cuts), but it's good to see that the company is still on the hire - in fact, it has probably just made one of the most expensive hires of all time.
The fate of ABN AMRO is up in the air again, as Royal Bank of Scotland (RBS), Banco Santander and Fortis have clubbed together to bid for the Dutch firm in a deal which would see ABN carved up.
It was in 2003 when Citi founder Sandy Weill tapped lawyer Chuck Prince for his successor as CEO. Chuck's had a tough time of it since - cleaning up after a series of regulatory problems, seeing costs rise at a faster rate than income in 2006 and standing by as the company share price remains in the toilet (shares are down around 7% this year).
Despite all the doom and gloom about the prospect of job losses in London's financial district (up to 1,000 jobs are thought likely to be lost over at Citigroup, and staff at ABN AMRO are at risk WHOEVER ends up acquiring the bank), it's not all bad news.
British bankers are celebrating - high earners will not have to shell out large chucks of future income to their spouses, it seems, in the event of a divorce.
It takes more than a bit of superstitious nonsense to put off Wall Street giant Goldman Sachs.