Cuts are said to be going down in Deutsche Bank CIB today, affecting associates and VPs. Supposedly some groups will be losing “over forty percent of their mid-level bankers.” We’ll keep you posted.
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
schleische dich!
Bess, pick up this story.
Some funny weasel words here.
Goldman Sachs Would Like to Pay Back TARP Money, Viniar Says
http://www.bloomberg.com/apps/news?pid=20601087&sid=a3xTcf52kEZM&refer=home
““It would send a very good signal” if the firm could repay the money, he said. The firm would only do so if it got “the blessing” of the Treasury and Federal Reserve, he said at a Credit Suisse conference in Naples, Florida today.
Under current rules, Goldman and other firms that received money under TARP are required to raise common or preferred equity to replace the government funds, Viniar said. The company will consider raising money “if the markets are good,” he said.
The government investment “is not really restricting the way we do business,” Viniar said. “
what? no one gives a fook about DB?
Viniar is such a tool. He’s made it so obvious that the only reason they want to pay it back, is because they don’t want to be held back on compensation. Goldman will always be Goldman, they will continue to walk across the room with their nose up.
@3 Everyone’s been fired. No one cares because no one still works there.
That former SVP of GE’s Corp Dev group has done a marvelous job of creating a top tier i-bank… Wait, that was 20 years ago when the old fool was relevant and at Morgan. Sorry for the confusion – carry on.
@4 – if they can pay it back, then they deserve to get paid.
DB just hired 12 in FIG with 3yr gurantees…..
that will go over nice today
ps, who are the VP/Dir’s
seems like it’s mostly in the industrials group
DB industrials new head from ML last year. will see more of his guys come over with packages. cleaning house.
“Cuts are said to be going down in Deutsche Bank CIB today, affecting associates and VPs. Supposedly some groups will be losing “over forty percent of their mid-level wankers.”
There, fixed that for ya.
way to go DB FIG!!!
http://www.pr-inside.com/deutsche-bank-significantly-expands-global-r1041260.htm
severance??
Newman: Banker! So you’re killing yourself because your dreams of becoming a banker have gone unfulfilled. You-you-you-you can’t live without being a banker.
Kramer: Yeah, yeah. If I can’t be banker, I don’t wanna live.
Newman: You must be banker.
Kramer: MUST be banker.
@9 how do you know it was industrials?
FIG at DB is a joke….
They have blown no less than $35 million on multi banker/multi yr. contracts in FIG over last decade
First was Lou Wolfe from ML, 2000-2003 who openly told all he was leaving at 5pm and collecting his 3yr gurantee
Next they had a JPM MD from 2003-2005 who did zilch
Then they brought in a Lazard Insurance MD who did zilch from 2006-2008
Now its the Heaton Bros, who actually are fine chaps….
DB Global Mkts runs the show…and Jain will shortly let them know that an ass raping of their clients for FI business is all that will be tolerated
Any idea about chopping in Asia ? ..
industrials- only ones laid off at db? anyone else from db given the pink slip?? future layoffs planned for the bank?
@ 18, Deutsche Bank has had rolling layoffs all week starting on Tuesday. Lev fin, Natural Resources, Industrials, FIG, Media / Telecom, M&A, every group has had to cut something. Almost all of the cuts have been at the associate level with some bit of VP cutting going on as well.
Were first year associates in the pool fired?