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The Financial Times (FT) reports that UK institutional broker Execution has drawn up a plan to increase headcount from 120 to 300 as it bids to triple revenues to $242m by 2011.

In the meantime, The Times reports that UK market regulator The Financial Services Authority (FSA) is to increase headcount by around 80 staff, as it ups its game against insider trading abuses.

The FT also reports that Nomura has persuaded half of its 1,600 'jobs-for-life' Japanese investment bankers to give up their local contracts in favour of deals which tie pay more closely to performance.

Financial New reports that Barclays Wealth is aiming to become one of the top 5 largest wealth management firms globally in the next 10 years, and believes that the time may now be right to look at acquisitions.

All is not good, however, on the M&A front. Bloomberg reports that, according to New York-based research firm Freeman & Co, M&A fees in the second-quarter are heading for their worst quarter in a decade, as corporates continue to delay or cancel transactions due to the economic climate.

Finally, the news agency reports that Boaz Weinstein, the former Deutsche Bank bond trader who made billions for the German bank over the years (but is thought to have lost $1bn last year), has raised around $160m for his new hedge fund, Saba Capital Management.

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