Bloomberg report that Standard Chartered is pretty miffed that banks owned by the UK government (for that read Lloyds Banking Group and Royal Bank of Scotland) appear to be poaching its staff.
The news agency quotes Standard Chartered's Finance Director Richard Meddings, who said: 'On a number of occasions, it's essentially government-owned or very significantly government-owned banks, that are competing with, or taking our staff, or competing with us for staff, on the basis of remuneration, which, if you believe the regulators, isn't allowed'.
In the meantime, JPMorgan Chase CEO Jamie Dimon better beware, as he has just been named Banker of the Year by American Banker. The award appears to have become a bit of a curse in recent years; last year's winner was Bank of America's Ken Lewis, and previous winners include Wachovia's Ken Thompson (who was forced to resign), and Kerry Killinger, CEO of Washington Mutual before it went belly up.
And The Financial Times reports that The Kuwait Investment Authority is said to have held internal meetings to discuss transferring some of its cash from Citigroup, where it has maintained accounts for decades.
The Wall Street Journal reports that Royal Bank of Scotland is close to selling its retail and commercial banking assets in China, India and Malaysia to HSBC.
The newspaper also reports that having anything Madoff-related on your cv appears to be the kiss-off-death when it comes to trying to get a new job. Many previous Madoff employees have apparently found it difficult to find alternative employment since Bernie's empire crumbled following the revelation that he was running a Ponzi scheme. Strange, that.
And Reuters reports that Matthew Uberoi, a former intern over at Hoare Govett, has been jailed for 12 months, after being found guilty of insider trading. Uberoi's father, Neel, got 2 years. He made $179,000 from the illegal trading scam.
The New York Daily News reports that US Treasury Secretary Tim Geithner has confirmed that the Obama administration is to extend the TARP bailout program by a further year, to October 2010, just in case the funds are required to protect against any future economic shocks.
Finally, on the hiring front, Morgan McKinley's November London Employment Monitor reveals that the number of new job vacancies last month rose 15% on the same period in 2008. And Bloomberg reports that Piper Jaffray has plans to hire around 60 investment bankers in order to capitalize on improving markets next year.
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