Banks considering pay freeze for junior bankers

According to Bloomberg, banks are considering freezing the pay of junior bankers. As bankers progress through the ranks of analyst, associate, and vice presidents an annual increase has been the norm. Credit Suisse (CSGN) is supposedly the first to test against the norm. Others are watching to see if Goldman (GS) and JP Morgan Chase (JPM) will follow. 

Niall Ferguson - Ascent of Money Pt 6

Stumbled onto this little gem. Worth a watch.

Niall Ferguson - Ascent of Money Pt 5

Stumbled onto this little gem. Worth a watch.

Niall Ferguson - Ascent of Money Pt 4

Stumbled onto this little gem. Worth a watch.

Niall Ferguson - Ascent of Money Pt 3

Stumbled onto this little gem. Worth a watch.

Edward Green London store sale

On Jermyn Street - Sale ends Jan 28, 3012. 


http://www.edwardgreen.co.uk/index.php?option=news_full&news_id=127

Niall Ferguson - Ascent of Money Pt 2

Stumbled onto this little gem. Worth a watch.

Models and Bottles for Marc Leder

Are you a big baller like Marc Leder, Sun Capital Partners co-CEO? Check out some of the rumors about his parties on Page Six:


Event Week 2011/2012 in St Bart's


Bridgehampton

Niall Ferguson - Ascent of Money Pt 1

Stumbled onto this little gem. Worth a watch.

Is Evercore branching out?

Evercore (EVR) is primarily an investment banking advisory, they have recently purchased a 45% stake in fund of hedge funds, ABS. Previously they had taken a minority interest in Trilantic Capital, the Lehman Brothers spin-out.

Morgan Stanley: 580 layoffs may come from NYC

Today Bloomberg reported that Morgan Stanley (MS) announced 580 of the 1600 layoffs announced last month may come from NYC. 

Fortress CEO taking leave

According to Reuters, Daniel Mudd, Head of Fortress Investment Group (FIG) and former CEO of Fannie Mae, will take leave in the wake of SEC investigations into Fannie Mae (FNMA) and Freddie Mac (FMCC).

BofA mulls selling ML?

Just saw the rumor on Bloomberg, but no link yet. They are looking at selling assets to meet new capital requirements. But it has been rumored for sometime.

BofA (BAC)

The Rockefellers Documentary

Lenovo thinkpads

Thinkpads are the solutions leading enterprises use across the world. High-performance and reliability typifies the machines. 

PEI 2010 Awards

For those of you not familiar with the private equity industry. PEI announced a awards for best performers by category and region. It's a good way to become acquainted with the names. 


PEI 2010 Awards

Incentive for top executives and salesmen

Ergo (division of Munich Re) has given their top salesmen and executives an orgy in a Budapest spa as reward. There were approximately 100 men from Ergo (mostly old guys) and 20 prostitutes. The prostitutes wore colored armbands to signify their availability. Some were exclusive only for "higher performers" and executives. But with a particular German twist, each prostitute was stamped on the arm for each time they serviced a client. 

Dailymail


Telegraph

The House Of Rothschild - The Money's Prophets

Interesting documentary of the Rothschild dynasty:

BBC Documentary: When Bankers Were Good

RBS Considering Closure of Equities Business

According to Bloomberg, RBS Considering Closure of Equities Business. 

Key facts:

options are to sell or shut the division

about 1000 people in the unit

why? to shrink the investment bank

upcoming regulatory change 

83% state-owned bank

Investment banking unit employs 19,000

30,000 jobs cut since bailout

2,000 further job cuts announced

final decision has not been made

UK Chancellor of the Exchequer George Osborne: 

"Investment banking will continue to support RBS’ corporate lending business,” Osborne said. “RBS will make further significant reductions in the investment bank, scaling back riskier activities that are heavy users of capital or funding.”