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’Another IB “surprises” on the downside…
And so to the harsh news amongst the “key messages” from Credit Suisse, which on Thursday followed both UBS and Deutsche Bank in reporting rather softer Q4 numbers than anyone seemed to be expecting…
It’s bonus season, so what’s the meaning of life?
Around exam time at university, the conversation always seemed to fluctuate between points of revision, questions that might be asked, and what the meaning of life actually is. “Exams aren’t a test of your real ability,”
The state of investment banking
Market intelligence provider Tricumen released their report on the state of the investment banking industry on Wednesday.
Their researchers sorted through an inordinate amount of company filings in order to determine the revenues by product segment,
SocGen gives up on net income
The half-year reporting season for the UK banking sector may have started well, with results from HSBC, Barclays and Standard Chartered all exceeding expectations, but a different story is emerging on the continent.
An audience with Lloyd Blankfein
Nomura’s banking analyst Glenn Schorr recently caught up with the Goldman boss (plus chief financial officer David Viniar).
And Schorr was able to quiz him on some of the pressing issues of the moment:
UK graduates <3 Goldman Sachs
Bad press and Jamie ‘Most Dangerous Man in America’ Dimon be damned. The UK’s graduating classes have spoken, and for those who see themselves as heirs to Gekko, Goldman Sachs is their would-be employer of choice.
Nomura staff warm to western contracts
Nomura has persuaded half of its jobs-for-life Japanese investment bankers to give up their local contracts and adopt more volatile western deals, in the mould of the Lehman Brothers operations it acquired last autumn.
Bonuses are back, baby
Don’t sell the Lamborghini just yet, counsels FT columnist and M&A correspondent Lina Saigol. According to a report issued by pay consultants Johnson Associates last week, expect a rebound in bonuses for 2009 on the back of strong first-quarter earnings.
Investment bank revisionism, Wiki edition
Felix Salmon points us in the direction of a new feature for Wikipedia, the user-generated online encyclopedia.
WikiDashboard, created by Silicon Valley’s Palo Alto Research Center, “aims to reveal much of the normally hidden back-and-forth behind Wikipedia’s most controversial pages.”
Yes, bankers are overpaid and no, it will not last
The below graph comes from this authoritative study of financial service industry wages in the US by Thomas Philippon and Ariell Reshef, which has just been published as an NBER working paper.
(It’s