Mark Twain once cabled the Associated Press from Europe to confirm that 'the report of my death was an exaggeration'. DrKW might have to do something similar if the rumours swirling about its future persist.
We're now in the midst of the most frenetic hiring binge seen in the financial markets since the heady days of the dot com boom. Record profits have enabled many firms to really push the boat out on the hiring front, and many are hiring three times more staff each month than they were in 2005. But old habits die hard, and some firms are finding that they are unable to move quickly enough to bag hires before the competition, as they are bogged down in process.
There was a time, and not too long ago, when most of the top US investment and 'Universal' banks looked down their noses at the likes of Deutsche Bank and UBS. Well, not any more. Both firms are really in the big league now.
Commerzbank posted its first-quarter profits this week, up almost double to $931.7m on the sale of a stake in the Korean Exchange Bank and stronger securities trading.
Forbes and Star Mine have have ploughed through research on the sell-side analysts covering US stocks, and have come up with a set of league tables:
The Guardian reports that Goldman's links to rivals lead to media group BSkyB's recent decision to ditch the firm as joint corporate broker. Goldman was involved as adviser and private equity participant for Greg Dyke's recent takeover run at ITV, and also acted as adviser to NTL on the Telewest deal.
The Daily Telegraph reported last week that 36 year-old Helen Green is suing Deutsche Bank for a cool £1m, after claiming that she was bullied by female colleagues at work and was driven to a breakdown.
The New York Times has published an update on that insider dealing scandal that has rocked both Goldman Sachs and Merrill Lynch.
The Scotsman reports rumours are circulating that Dutch bank ABN Amro may be moving some of its operations to Edinburgh. The newspaper quotes an unnamed source, who said that 'the name has been mentioned, and it's not the first time I have heard it. No one can say if it's true or not. Whether they are looking at buying a business or making a fresh start is not clear'.
According to research firm Dealogic, Citigroup topped the league table for fees for advising on private-equity deals in the Asia Pacific region last year. The firm earned $85m, and was followed by Nomura ($50m), and Credit Suisse ($43m). Citi is also favourite to top this table again in 2006, after getting off to a flying start to the year.