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Costs blow up – Goldman Sachs accepts Stock comp

Posted on December 11, 2009 by zyakaira

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 exact structuring is likely to throw up even more surprises…

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Posted in Financial Markets, GDOW, Global, TARP, Uncategorized

Lewis to resign ?

Posted on April 24, 2009 by zyakaira

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 part of New York attorney general Andrew Cuomo’s investigation into…

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Posted in Meltdown, US

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

Posted on April 15, 2009 by zyakaira

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. Chief Executive Oswald Gruebel, the veteran former Credit Suisse boss…

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Posted in Financial Markets, Global, Meltdown, Uncategorized

FT.com / Global Economy raises hopes

Posted on April 3, 2009 by zyakaira

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, the signs remain tentative. Economists warn that recessions rarely proceed…

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Posted in Financial Markets

Recession Jobs Losses Top 5 Million – WSJ.com

Posted on April 3, 2009 by zyakaira

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 sharp rise in the unemployment rate to a 25-year high,…

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Posted in Financial Markets, Investments, Uncategorized, US

Can this man run your treasury?

Posted on February 21, 2009 by zyakaira

Mail written by Ken Lewis to BofA employees

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Posted in Financial Markets

UBS hires traders from rivals, DB hires strategy

Posted on February 9, 2009 by zyakaira

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 big pay offers have triggered a costly price war for…

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Posted in Financial Markets, Global, Meltdown, TARP, Uncategorized, US

UBS arm hiring from rivals

Posted on February 9, 2009 by zyakaira

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 big pay offers have triggered a costly price war for…

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Posted in Financial Markets, Global, Meltdown, Uncategorized, US

State Street tries cutting bonuses | FT.com

Posted on February 6, 2009 by zyakaira

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 share price fell by more than half in a day.…

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Posted in Financial Markets, Meltdown, TARP, Uncategorized, US

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

Posted on February 4, 2009 by zyakaira

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 their entire career at Merrill reinforces speculation of a clash…

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Posted in Financial Markets, Meltdown, Uncategorized, US