Sunday, 22nd November 2009

 

20 July 2009 - Press Briefing

Former Lehman traders set for massive Barclays bonuses

Former Lehman Brothers traders recruited by Barclays are set to be among the largest recipients of payouts worth tens of millions of pounds by the UK lender to its investment bankers, according to a report in The Observer, London.

The bankers have generated massive profits from trading in sovereign debt, derivatives and foreign exchange, making it likely that Barclays Capital could account for over two-thirds of the £3bn (€3.5bn) of pretax profit that Barclays is likely to unveil in the first week of August.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

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