• mikecorbat


    Layoffs Watch ’14: Citi

    The House of Corbat has asked a few employees to turn in their ID badges […]

    / Apr 14, 2014 at 10:13 AM
  • saccapitalfleece


    Handful of SAC Employees Not Even Waiting For Bonuses To Hit Before Turning In Their Fleeces

    Others are toughing it out ’til February.

    / Dec 18, 2013 at 5:42 PM
  • billackmanpershingsquare

    Hedge Funds

    Story Of Pershing Square’s Investment In JC Penney Is Over

    And it has ended with the handsome prince, practically perfect in every way, being forced […]

    / Aug 26, 2013 at 5:29 PM
  • News

    David Viniar’s Work Here Is Done

    Back in 2009, Goldman Sachs Chief Financial Officer David Viniar, whose face may not be as recognizable to you as that of Lloyd’s but whose voice you’ve likely found just as if not more soothing each time you hear it during the firm’s earnings calls, decided he was ready to move on after a three-plus decade long career with The Firm. Normally, that would have been just fine; people would have wished Viniar all the best as he happily waved good-bye to all his colleagues and friends from the gondola lift made of fluffy clouds and money that transports all Goldman Sachs executives to retirement.

    Unfortunately for DV, however, it was around the time that he started to think about leaving that Goldman hit some unfortunate rough patches that included “a civil fraud suit by the Securities and Exchange Commission over marketing of mortgage-related securities, a federal criminal probe on the same matter, and a civil suit brought by a hedge fund that bought a Goldman CDO.” And while other higher-ups– no names: Jon Winkelried— would have thought nothing of abandoning Lloyd in his time of need or what kind of message it would have sent that a top official was calling it quits, David “Bones” Viniar is  a little more loyal than that. Lot more loyal in fact (“He’s so loyal he’s only going to do anything when the timing is appropriate,” one person said at the time, adding that “David will do whatever the firm asks of him”) and so he stayed. Stayed by Lloyd’s side during his darkest hour. Stayed when the Goldman needed him most. And although some might have hoped he’d forget about wanting to leave; that he could be tricked into staying “just one more year” and another and another and another after that; that that good-bye he put on hold would stay on hold forever; that, if all else failed, Gary Cohn could put him in a sleeper hold with his legs…that good-bye has come

    Goldman Sachs today announced that Harvey M. Schwartz, the global co-head of the Securities Division, will become Chief Financial Officer at the end of January 2013. After a distinguished 32 year career at the firm, including 12 years as the Chief Financial Officer, David Viniar has decided to retire and will join the Board of Directors as a non-independent director at that time. The firm expects to appoint additional independent directors to its board in the near term.

    David Viniar retiring as Goldman CFO [FT Alphaville]
    Related: David Viniar Stands By His Man

    / Sep 18, 2012 at 5:10 PM
  • News

    Layoffs Watch ’12: JPMorgan

    Some people are keeping their London-based gigs (for now) and some people are not.

    JPMorgan Chase, the biggest U.S. lender by assets, will eliminate 20 investment-banking jobs in London as market conditions weaken, according to a person with knowledge of the cuts. The staff cuts aren’t related to the $2 billion loss at the New York-based company’s chief investment office in London, said the person, who asked for anonymity because the investment bank reductions haven’t been made public.


    / May 16, 2012 at 6:07 PM
  • billgrossmustache

    News, this is important

    Bill Gross’s Mustache Is Never Coming Back

    Has there ever been a person in your life you didn’t realize how much meant to you ’til they were gone? Who you would have treated better if you’d known your final day with was your last? Who you would have begged to stay? Who you assumed would be back eventually but as the weeks, months, and years crept on forced you to come to the hard realization that the next and only time you’d see them would be in your dreams, because they were never coming back? Whose permanent absence, once finally accepted it, hit you like a ton of bricks? Then you know how people involved with Bill Gross’s Mustache feel today. Once a
    daily presence on the PIMCO manager’s face, the BGM went away for a while but it was assumed not for good because how could that be? Why would that be? It felt impossible. Then this happened:

    Bloomberg’s Tom Keene: When does the mustache come back?
    Gross: Never. My wife has finally adjusted, so it’s not coming back.

    If you never got to say a proper good-bye, if you would have done things differently, if you feel like the wind’s been knocked out of you, if you can’t bear the thought of being alone tonight, join us as we light a candle in memoriam.

    Bill Gross’s mustache in deep contemplation

    Bill Gross’s mustache in an insane asylum

    Bill Gross’s mustache mustache so stoned it can’t feel its face

    Bill Gross’s angry mustache!

    Bill Gross’s suicidal mustache

    Bill Gross’s mustache undressing you with its mind

    Pimco’s Gross on Financial Repression, ETF, Greece [Bloomberg]

    / Mar 1, 2012 at 3:49 PM
  • News

    Good Night, Sweet Prince

    After 12 years of outstanding service, Lucas van Praag, global head of Corporate Communications, will […]

    / Feb 8, 2012 at 10:30 AM
  • News

    Is Today Erin Burnett’s Last Day On CNBC? (Update)

    No one has said anything but…the standing ovation on the floor of the NYSE, the […]

    / May 6, 2011 at 10:23 AM