Sunday, 22nd November 2009

 
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29 October 2009 - Press Briefing

Barclays braces for loss on exposure to German fund of funds

Many banks, including Barclays, are said to be facing combined losses worth $400m (€271.5m) in K1 Group, a German fund of hedge funds which is at the centre of an international criminal inquiry, according to a report in The Daily Telegraph, London.

European authorities and the FBI in the US are probing K1 over whether the firm misused the money it got from banks to leverage its investments.

Tags: Hedge Funds

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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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