“there might be a more legitimate reason why many wealth managers steer clear of Norway” -- David Bain
Sunday, 22nd November 2009
Barclays is close to selling its iShares exchange-traded-funds division in a transaction that could fetch the UK bank over $5bn (€3.8bn), sources said, according to a report in The Wall Street Journal.
Bidders include Goldman Sachs, a consortium comprising Bain Capital and Colony Capital, a group of Apax Partners and Hellman & Friedman, and possibly CVC Capital Partners.
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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