WestLB

WestLB AG is a commercial bank domiciled in North Rhine-Westphalia, Germany's most densely populated federal state and it is one of Germany´s leading providers of financial services.

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More Hiring & Firing News

Bloomberg reports that Minneapolis-based investment bank Piper Jaffray is to cut around 40 of the 70 staff it currently employs in London, as its business model 'was impacted by the lack of capital raisings by...small and mid-cap clients'.

HOT LIST

You Could Still Be Fired, Even If Your Firm's Doing Well

All this talk of champagne and the good times returning seems to have provided many of those who work in the financial markets with a false sense of security. Some employees appear to feel that, as long as their firm is doing well, they will enjoy job security. That, of course, is not necessarily the case.

Goldman Said To Be 'Obsessed'

Reuters reports that Merrill Lynch analyst Guy Moszkowski recently met with Goldman Sachs executives, including the firm's Chief Financial Officer David Viniar. He has made some interesting observations following the meetings.

No Money Broke

Artworks go on sale as bank is wound down

The art collection of failed lender WestLB, including a piece by Morris Louis of the Washington Color School movement, is going on sale as the German state seeks to retrieve funds used in the bank’s rescue.

World's 'Dumbest' Bank Raided By Prosecutors

Reuters reports that German authorities raided the Frankfurt offices of state development bank KfW Wednesday, as the probe into how come a $411m swap transaction was executed with Lehman Brothers after the former Wall Street firm had filed for bankrupcty last month.

Deutsche, Morgan Stanley, WestLB, UBS

Deutsche Bank and UBS have been served with $2.7bn in damage claims in connection with the collapse of Italian dairy company Parmalat. Italian authorities have alleged that the banks provided false information about the company's financial position before it was forced into bankruptcy in late 2003. Both banks say that the allegations are false.

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