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HSBC - 'Studs' Fails To Leave His Mark

Well, it was really only a matter of time. John Studzinski (known as 'Studs'), the man who was brought in 3 years ago to build up HSBC's M&A franchise, is off to join private equity firm Blackstone later this year. As The Wall Street Journal says, the banker who was brought in 'to lead the charge, is departing this fall, leaving a trail of high costs, few big deals and questions about the bank's strategy'.

Nicked - On-The-Run Hedge Fund Manager Caught

The FBI and Miami Beach police arrested on-the-run hedge fund manager Kirk Wright Wednesday. The founder and CEO of International Management Associates, who was charged with mail fraud in March after $100m of client assets went missing, was caught at a poolside bar at the Ritz Carlton in South Beach. He is said to have had $28,000 in cash on him. His prized Mercedes was close-by.

Here Is The City News Shorts

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.

Working With Cancer - Update

The 'Working With Cancer' Team have formed a partnership with the Chartered Institute of Personnel and Development (CIPD), and patient charity Cancerbackup, to produce guidelines for employers on how to manage people affected by cancer.