Thursday, 11th March 2010

 
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12 May 2009 - Press Briefing

Schroders and StanChart said to be in frame for Kleinwort Benson

Commerzbank could offload its Kleinwort Benson Private Bank arm to Schroders, Standard Chartered or Royal Bank of Canada, the Wall Street Journal claimed, citing unidentified investment bankers, according to a Bloomberg report.

Kleinwort Benson has “a road map to achieve better returns, based on efficiencies and market recovery', Rob Taylor, the firm’s chief executive, was quoted as saying in the WSJ story.

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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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Which finance billionaires made the Forbes list

Forbes’ 2010 list of the world’s billionaires comprises a record 164 "ten-figure titans" and some familiar names from the world of finance. Spare a thought though for the 12% whose fortunes dipped last year.

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