The Banking and Strategy Initiative

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Tag Archives: Layoffs

Costs blow up – Goldman Sachs accepts Stock comp

Goldman Sachs’ earlier bonus component that averaged $700,000 per employee for this year is likely to be drastically revised. Initial reports suggested a 5 year stock purchase plan but the … Continue reading

December 11, 2009

Lewis to resign ?

Lewis had his doubts about the transaction, but Paulson convinced him it was not in the CEO’s “best interest” to walk away, according to the testimony given in February as … Continue reading

April 24, 2009

UBS cuts 8,700 more jobs | U.S. | Reuters

UBS made a first-quarter loss and will cut another 11 percent of staff, its new chief executive said on Wednesday, warning that Switzerlands largest bank still faces an uncertain future. … Continue reading

April 15, 2009 · 1 Comment

FT.com / Global Economy raises hopes

Scattered signs of green shoots in the global economy are raising hopes that the recession could bottom out later this year, paving the way for economic recovery in 2010. However, … Continue reading

April 3, 2009

Recession Jobs Losses Top 5 Million – WSJ.com

The U.S. continued to shed jobs at an unrelenting clip in March, pushing total losses since the recession started 16 months ago past five million. The figures, which included another … Continue reading

April 3, 2009

Can this man run your treasury?

Mail written by Ken Lewis to BofA employees

February 21, 2009

UBS hires traders from rivals, DB hires strategy

UBS Financial Services has added more than 400 brokers to its 8,000-strong network in the past few months, insiders say. The moves have enraged rivals, who claim the Swiss group’s … Continue reading

February 9, 2009

UBS arm hiring from rivals

UBS Financial Services has added more than 400 brokers to its 8,000-strong network in the past few months, insiders say. The moves have enraged rivals, who claim the Swiss group’s … Continue reading

February 9, 2009

State Street tries cutting bonuses | FT.com

Last month State Street, the world’s biggest institutional money manager, raised fresh fears about the US financial sector after reporting a 71 per cent drop in quarterly net profits. Its … Continue reading

February 6, 2009

FT.com / Deutsche Bank borrowing Heatons from Merrill / BofA

Merrill lost 12 senior bankers specialising in financial institutions to Deutsche Bank. The departure of a team of bankers based in New York, London and Hong Kong who had spent … Continue reading

February 4, 2009

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