City News
Charity Started For Hard Up Hedgies
Here's something we found mildly amusing. more
Another Day, Another Firm Confirms No Bonuses For Top Dogs
The Wall Street Journal reports that Bank of America (BofA) CEO Ken Lewis has recommended that he and his top executives receive no bonuses for their efforts in 2008. more
John Thain's Farewell To Bob McCann E-Mail
Here's how Merrill Lynch staff found out that Bob McCann, the head of the firm's brokerage unit, had thrown in the towel. Rumour has it that Bob will resurface at Morgan Stanley, and then pick off all Merrill's best financial advisors. more
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A Great Read This Compensation Time - 'Never Mind Your Bonus'
A must-read for all financial markets professionals, this light-hearted look at the industry is a great stocking filler for Christmas (and cheap, too, for all you cash-strapped bankers - £10 UK, $16.49 USA). Order now to avoid disappointment. more
Still At Work - But The Phones Are Off, The Computers Unplugged
The Mail-on-Sunday had an interview with Julia Fenwick who, for 8 years, was alleged $50bn fraudster Bernie Madoff's London office manager. Ms Fenwick described Madoff as 'the most anally retentive person I have ever met'. more
Top Firm's Xmas Party Needs Approval Of US Government
No wonder Citi canned many of its Christmas bashes - under the terms of its recent bailout, the firm would have had to have got US government approval for any knees-up. more
Is Top Exec Departure First Sign Of Merrill / BofA Culture Clash ?
Bank of America CEO Ken Lewis said when he acquired Merrill Lynch that the jewel in the crown was the firm's brokerage unit. Well, the crown has no king, as Bob McCann, the man who ran the Merrill brokerage show is to step down. And insiders say McCann has gone due to strains in his relationship with former Merrill CEO John Thain, and the culture clash already evident in the Merrill / BofA relationship. more
Dimon Heading For A Fall / Who'll Follow Mack ?
Wall Street loves a hero, and 2008 was the year that JPMorgan Chase CEO Jamie Dimon took on that role. But the smart money is now saying that Dimon is heading for a fall. more
Hope Springs Eternal - Reasons To Be (More) Cheerful In 2009
2009 looks likely to be another tough year, but there are some reasons to be slightly more cheerful. more
2008 Worldwide M&A League Table (Completed Deals)
Here's the Thomson Reuters 2008 M&A League Table (Completed Deals): more
2008 M&A - Who Was King Where (Completed Deals)
Here's a note of who was top dog in M&A around the world in 2008 (completed deals). more
2008 Global Debt, Equity & Equity-Related League Tables
Here's a few Thomson Reuters global debt, equity and equity-related leagues tables for 2008. more
Highly Placed Professional's 2009 Predictions
I'm currently reading the 1970s novel 'The Rag Parade', and you are struck at just how similar things were back then. The same endless striving for quick profit. The same kind of takeovers, attritions, scandals and political struggles. more
Tears On The Trading Floor
The end of Merrill Lynch was not as quick and maybe didn't seem as final (at the time) as the denouement of Bear Stearns or Lehman Brothers, but it was nevertheless as painful for those who worked there. more
Top Firm's Compensation 'Principles' Revealed
Citi CEO Vikram Pandit has been writing to his (ever decreasing number of) staff again. This time it's about the firm's new compensation principles. more
Spinning Hedgie Caught Off Balance (Again)
In June, a New York jury aquitted broker Christopher Carter of assaulting hedge fund manager Stuart Sugarman over an altercation during a spinning class in the Equinox fitness club on the Upper East Side in August 2007. more
More Execs Forgo Bonuses
Bowing to the inevitable at last, Citigroup has now confirmed that CEO Vikram Pandit, chairman Sir Win Bischoff and senior adviser Robert Rubin will forgo their bonuses this year. more
Global Stock Markets - 2008 Performance (Winners & Losers)
Here's a look at how bad things were for global stock market indices in 2008. more
The Weekend That Changed The Face Of Wall Street
The weekend beginning Saturday, 13th September, will go down as the two-day period that changed the face of Wall Street. Lehman Brothers and Merrill Lynch were on the ropes, at the mercy of short sellers. Rumours and speculation were rife. Would Lehman fall or merge ? Would the US government come to the rescue with a bailout ? Would Merrill Lynch be the next shoe to drop ? And what would happen to Goldman Sachs and Morgan Stanley ? As a comprehensive Wall Street Journal article has now made clear, the decisions made over those two days sealed the fate of all these key financial markets players. more
source: Here Is The City News
