Monday, 23rd November 2009

 

3 November 2009 - Press Briefing

Goldman appoints head for global prime-brokerage operations

Goldman Sachs has appointed US equity-sales co-head Dean Backer as the chief of global prime-brokerage sales and fundraising for hedge-fund customers, an internal memo from the firm's four global securities and trading co-heads revealed on Monday, according to a report in The Wall Street Journal.

A 19-year veteran of the bulge-bracket bank, Backer has previously served as co-chief operating officer of US Global Securities Services.

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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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Chopard out to show it has good timing

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