Banks

  • 10 Sep 2014 at 3:17 PM

Layoffs Watch ’14: Bank of America

Traders at at the House of Moynihan should reportedly gird their loins as of next Monday. Read more »

…per the instructions enclosed in a letter sent out by CEO Richard Handler and Chairman Brian Friedman. The short version: Treat junior level employees like they are humans and not life-sized pieces of garbage. The longer version: Read more »

  • 05 Sep 2014 at 3:16 PM

Pay Hike Watch ’14: Credit Suisse

After having monitored the situation, the House of Dougan has decided its youngest members will be getting base pay raises. Read more »

With a strongly worded memo.

Subject: Proper Food Disposal

All-

Read more »

Happy Days At 200 West Street

The news is all good, indeed, for Lloyd and Co. so far this week. Goldman has once again demonstrated its dominance amongst its “peers,” being named the “stabilization agent” for a $20 billion-plus IPO. Read more »

  • 04 Sep 2014 at 11:55 AM
  • Banks

It Won’t Be 2007 Again Until 2024 (And Not Really Even Then)

Deutsche Bank has gone back and re-crunched some numbers and found a couple of things about the line of business it is in. For one, it may have, well, let’s say misspoke when it suggested in December that the Goldmans of the world would inherit the banking industry. Seems that may have been at best a touch optimistic and at worst completely wrong. The Germans have also found that investment banking may not be an industry that one wants to inherit at all. Read more »

Fresh off the greatest Ice Bucket Challenge of all time, Richard Handler threw his clothes back on and raced to the office to put the finishing touches on Jefferies’ third-quarter results, which he expects you’ll be suitably impressed by. Read more »

Such as:

1. Is it standard practice at Credit Suisse to tell traders at other banks, “Hey, we might buy this stock”? Because Zoe Henderson has worked in a lot of offices and people do that all the time.

Credit Suisse has accused the trader, Zoe Henderson, of improperly sharing client communications with her husband, a London-based trader at a rival bank, via electronic chat rooms, the people said…At Credit Suisse, the examination of chat-room records revealed that Ms. Henderson, who has been at the bank since 2004, on multiple occasions during the past several years shared Credit Suisse communications with her husband, Toby Henderson, a London-based equities trader at Royal Bank of Canada, according to the people familiar with the probe. Some of the communications described Credit Suisse clients’ interest in buying or selling stocks, price ranges of upcoming public offerings, or updates on corporate mergers or other deals, the people said…Ms. Henderson has told Credit Suisse lawyers that it was normal practice for traders other than her to send messages indicating interest in certain stocks to traders at rival banks, and that the practice didn’t hurt clients, according to a person familiar with the probe.

2. Why were Credit Suisse traders (allegedly!) making viewings of adult videos a group activity?

2a. …in the office? Read more »