Some More Here Is The City Gossip
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Not jogging, but possibly counting his share options, is Lehman CEO Dick Fuld. An SEC filing revealed that Dick bagged $40m for his toils last year - $35m in restricted stock, $4.3m in cash bonus and $750,000 in salary.
And talking of bonuses, The Times reports that some investment banks are trying to work out how to restructure their firms' bonus schemes to ensure that traders have to earn back losses from previous years before they are eligible for big payouts after a decent year's performance.
Bloomberg reports that Wilson Feng, the chairman of investment banking over at Merrill in China, is off. Feng, 40, told the news agency that 'I want to change my life. It's a nightmare. My father won't recognise me I stay in investment banking. I didn't see him for almost three years'. Feng now plans to join a state-run company in China, as, although salaries are lower than in investment banking, 'you can have a better life'.
Associated Press reports that Goldman is to spend $100m to teach business and management skills to women in the Middle East, Asia and Africa, helping them to return to their native countries and drive forward their local economies.
Finally, Financial News reports that JPMorgan is to beef up its Asia presence (across the board) by hiring an additional 1,700 staffers. The firm's Asia-Pac revenues grew by some 47% last year to $5bn.
Our thanks to Wall Street Folly for drawing our attention to the Lloyd Blankfein item.
