Saturday, 7th November 2009

 

Profiles

  1. In memoriam: Bruce Wasserstein's career

    Bruce Wasserstein, chairman and chief executive of investment bank Lazard, passed away yesterday. Financial News looks at Wasserstein's career as he became a legendary dealmaker known as "Bid ’em-up Bruce” who advised on more than $250bn (€167bn) of deals.

  2. Krawcheck Stakes Her New Claim

    Sallie Krawcheck's star is rising mighty fast. First, she took over as chief of Bank of America 's huge wealth-management business. Now, less than two months later, there's a chance she'll take charge of the whole bank.

  3. News analysis: How JP Morgan's two heads became one

    Like Hollywood marriages, partnerships between senior bankers are often short-lived and unhappy affairs in which one party agrees to suppress their ambition for a brief period of time, normally followed by a swift and highly public divorce.

  4. Citi Private Bank executive scoops top award

    At Financial News' third annual FN100 Women event last night, which draws together a list of the top 100 most influential European women in finance, Citi Private Bank's chief executive Jane Fraser took the top place in the readers' poll of the most influential women in finance.

  5. Bank chiefs with most to lose lost the most

    New academic research claims bank compensation schemes should not be blamed for the credit crisis, particularly as Richard Fuld, Jimmy Cayne and Stan O’Neal were the chief executives with the three largest equity stakes, worth a combined $2.3bn (€1.6bn), before the onset of the crisis.

  6. Comment: Krawcheck will challenge the men, but is it a trend?

    Over the past week, the UK has been labouring under a surfeit of remarks by Harriet Harman, Labour deputy leader, that male executives are to blame for the credit crisis. With one of Wall Street's top (female) figures cast back in the spotlight this week, could banks be ready to test the alternative?

  7. Who’s likely to run UBS in the US?

    Oswald Grubel, chief executive of UBS, allegedly plans to shake-up top management of the bank’s struggling brokerage business in the US, which might include replacing the current head Marten Hoekstra.

  8. Green Deals go into the Red

    Last year’s green deals have gone into the red, leaving the weight of frustrated ambition resting uneasily over the sector.

  9. The blogs: Reaction to Madoff

    The 150-year sentence handed to Bernard Madoff was met with cheers and applause in a Manhattan courtroom. And a trawl through the blogosphere finds little sympathy for the convicted fraudster, who yesterday received the harshest sentence for his role as architect of a fraud that cost investors $65bn (€46bn).

  10. Life after the City: Ronald Hinterkircher

    One former UBS banker put his career on ice and is pursuing a new career on the ice. Click here to read Ronald Hinterkircher's story.

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”.

Rich Monitor

Sotheby's 3Q loss widens

Sotheby's third-quarter loss widened as the art auction house posted a worst-than-expected decline in revenue and a tax expense.

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