BNP Paribas posted third-quarter profits Thursday, which came in up 25% to $2.15bn. Bloomberg reports that pretax profit at the bank's corporate and investment banking unit were up 12% to $1.09bn, after earnings from the advisory and capital markets businesses rose 25%. The bank said that it enjoyed 'a good level of business' in fixed income, mainly from its European operations, and that its equity derivative business put in a 'good performance'. Pre-tax profit at the bank's asset management arm rose 27% to $462m.
Here's a post sent in by one of our readers on the subject of age discrimination:
Here's a post sent in by one of our readers:
With most of the top banks reporting strong profits for the third quarter, CityNews looks at how the firms are stacking up. UBS and Dresdner have yet to report.
Well, if you are a Managing Director and you work at Greenhill & Co, you will be told how much dosh your peers get when bonus time comes around. In fact, the firm issues a memo to all MDs, which details the bonus payments paid made to all staff at this level.
With bonus numbers currently being kicked around, the press is having a field day on the subject. Here's a run-down of what's being said.
Here are some interesting quotes from the Reuters Investment Banking Summit, which is being held this week at the Reuters Building in Times Square, New York.
The Wall Street Journal reports that Vietnamese authorities are now seeking $3.7m from ABN Amro, claiming that the bank was a party to illegal FX trading from November 2003 to February 2006, which resulted in losses to the state-owned Incombank. Police have apparently indicated that they now plan to prosecute local ABN staff who have been under house arrest for months, and an Incombank staffer who has been languishing in jail awaiting a prosecution decision.
J. Pierpont Morgan's 'personal appearance gave rise to legend
This one's bound to kick up quite a stink!
Twenty-two of the 50 biggest banks have announced plans to eliminate at least 1,000 positions each since the start of August 2011, according to data compiled by Bloomberg.
Vikram Pandit, who stepped down Tuesday as Citigroup’s Chief Executive Officer, stands to forfeit almost $33m in cash and stock from a retention package unless the board gives him a payout to ease his exit.
Here's what the smart guys are saying: