Barclays Bank CEO John Varley said at an investor conference in New York earlier this week that his bank's wealth management operations should be able to generate £500m in profits before too long. The unit posted pre-tax profits of £172m in 2005.
As it's Friday, we thought we'd entertain you with a few wise old sayings:
Almost 600 folks have entered the Badenoch & Clark-sponsored Here Is The City World Cup prediction competition so far. Have you ? You must register before the first World Cup game (Germany v Costa Rica) kicks off on Friday for your entry to count.
As summer arrives, we're asking our readers to let us know what they think about dress code. Here's an interesting view sent in by one of our readers, and a few follow-up postings:
John Kelly, the 40-year-old former JP Morgan Chase VP based in Manhattan, who last year jumped out naked from behind a tree and accosted an off-duty police office, has been banged up for 364 days.
The big news last week was that Hank Paulson, chairman and CEO over at Goldman Sachs, agreed to take a $38m pay-cut to join President George W Bush's team as US Treasury Secretary. Now, all over the globe, several former senior Goldman executives are in positions of influence, and are (or were) helping to run the place.
Well, we've run some weird stories during our time on-line, but this one from the United States really is the cats whiskers!
Unless you work at Goldman Sachs, you probably don't know too much about Lloyd Blankfein, the man who, after current firm boss Hank Paulson is confirmed in as US Treasury Secretary, will run the Wall Street colossus. Here's a brief bio:
Well, we're almost half way through the bonus year, and thoughts are already turning to how much more staff are going to get by way of bonus for their efforts in 2006. And the smart money says that increases of a minimum of 25% on last year are on the cards.
Goldman boss Hank Paulson resigns Tueday to go work for George W Bush, and firm president and COO Lloyd Blankfein is named chairman and CEO on Friday. Just like that.
And the biggest cost, of course, is staff.
There's not a lot of love around at the moment.
Barclays was in a 'state of denial' about its dealings with regulators, according to Sir Mervyn King, Governor of the Bank of England, as he came under fire from MPs on Tuesday during the latest bout of accusation and counter-accusation over the Libor scandal.