Here's a note of the largest 20 banking M&A deals:
"Happy teams … but poor pay" - Unique survey shows that, despite big bonuses, people still feel they are not paid enough !
Here's the official announcement made Wednesday on the subject of the Fortis, Royal Bank of Scotland and Santander run at ABN AMRO.
According to Institutional Investor's Alpha magazine, James Simons, a former maths professor now hedge fund manager, made an estimated $1.7bn last year - making the $54.3m earned by Goldman CEO Lloyd Blankfein seem like small change.
ABN AMRO's proposed sale of its US retail bank LaSalle to Bank of America in a deal worth $21bn appeared to be one in the eye for the Royal Bank of Scotland consortium attempting itself to snatch the Dutch bank from Barclays. RBS is thought to have been keen to combine LaSalle with its own US retail banking interests.
Bloomberg reports that Barclays Capital is to take up additional office space in London's Canary Wharf financial district. Further proof, if proof were needed, that BarCap boss Bob Diamond and his cohorts are unlikely to be spending much time in Amsterdam - deal or no deal with ABN AMRO.
Here's a factsheet on the Barclays / ABN AMRO takeover prepared by Reuters:
Bloomberg reports that although Barclays President Bob Diamond has said that nothing has yet been decided, he has indicated that up to 4,500 investment banking jobs may go once the dust settles and the proposed takeover of Dutch bank ABN AMRO by Barclays is finally signed-off by shareholders.
Dutch bank ABN AMRO waved the white flag Monday and confirmed that it had agreed a deal to be taken over by Barclays. Whether Barclays ends up walking away with the prize remains to be seen, but, whatever happens, ABN AMRO is no more.
Reuters reports that 34-year-old Bernard Santos, a former corporate actions clerk at ING Financial Services in New York, was arrested last Thursday in connection with an alleged $523,000 fraud.
A senior banker who slowly lost his sanity after a helicopter crash blew millions on lavish gifts to people he barely knew, while his bank adviser did nothing to stop him, a lawsuit claims.
Keeping up with the Joneses.
The OECD is to draw up new rules to limit tax avoidance by some of the world's largest businesses in time for a meeting of the G20 group of nations in July.