Sunday, 22nd November 2009

 

13 October 2009 - Press Briefing

Six European Lehman bankers seek £70m in lost remuneration

Six European bankers at Lehman Brothers, including Riccardo Banchetti, former joint chief executive of the bank in Europe and the Middle East, have filed a £70m (€74.7m) claim for lost compensation and bonuses with the administrators of the bankrupt firm, according to a report in The Daily Telegraph, London.

Banchetti, who is seeking £16.4m, is joined by Kieran Higgins and Georges Assi, former co-heads of the fixed-income business, as well as David Bizer, co-head of equity sales, and Harsh Shah and Giancarlo Saronne.

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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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