Page 2687 


Investment Banking Unit NOT For Sale

Dresdner Kleinwort CEO Stefan Jentzsch has come out and confirmed that German insurer Allianz has no plans to sell his unit, following comments recently made by Allianz that it was reviewing its business model. Jentzsch also told German newspaper Handelsblatt in an interview earlier this week that 'I don't think radical restructuring of the bank is appropriate'.

Probably The Biggest Bank Merger Of All Time

JP Citi Logo

Since it was revealed earlier this week that an unnamed investment banker had had the balls to call up Citi and suggest that it might consider a 'merger' with Bank of America, thoughts have turned to what might end up being the biggest bank merger of all time - a tie-up between Citi and JPMorgan Chase!

Time To Be Tough - UK Regulator Must Show Crime Doesn't Pay

The NatWest Three were back in the headlines this week, after pleading guilty to an Enron-related crime in exchange for a lenient sentence. A dodgy extradition was followed by 17 months in the US away from their families and the prospect of up to 35 years in clink if they were convicted as charged - little wonder they coughed. Anyway, here's our 'Highly Placed Profesional's' take on the affair.

More Misery As Firm Staff Get Canned Two Days Before Year-End

Bear Having a Bath

Spare a thought for those folks over at Bear Stearns who got canned Wednesday - just two days before the firm's year-end. There's never a good time to lose your job, but possibly also losing out on a bonus after working 362 days of the fiscal year just about takes the biscuit.

Investment Banker Called Citi About BofA Merger

The Wall Street Journal reports that a well known investment banker is said to have called Citigroup after Chuck Prince stepped down as CEO earlier this month and suggested the possibility of a merger with Bank of America - imagine the fees on that one!