“there might be a more legitimate reason why many wealth managers steer clear of Norway” -- David Bain
Sunday, 22nd November 2009
Goldman Sachs is contemplating an offer for iShares, as the first round of the sell-off of Barclays’ asset management business closes next week, according to a report in The Times, London.
The Wall Street bank is believed to be one of at least three firms in discussions with Barclays about iShares.
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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