Goldman May Become Proper Investment Bank Again
More in BUSINESS NEWS
back-up- Meet Goldman Sachs' Newest Managing Directors
- Geithner On Financial Regulatory Reform
- Free Job Postings Until 31.03.2010
- Bank Tells Staff To Knock Off Early To Make Babies
- 'Do I Seem Like A Guy Who Throws Chairs ?'
- Best Place To Work Update
- Office Humour - Warning, Some May Find This Offensive
- City Bankers Prepare For Disaster Scenario
- John Thain Defends Wall Street Bonuses
- Click Here To Register For Free News E-Mail Alerts
- Lazard Names New CEO
- Top Firm Told To Give Up Bonuses
- Government Accused Of Botching Major Bailout
- UBS Reveals Its Hand
- The Dash For Trash
- Too Big To Fail
- 'Sorry - But Christmas Is Cancelled'
- Regulator To Have Power To Tear Up Banker Pay Contracts
- IT Programmers Accused Of Being Madoff Accomplices
- Cityboy On Corporate Social Responsibility
- Top Firm To Unveil Turnaround Strategy
- The Obvious Candidate To Succeed Ken Lewis Is Ken Lewis
- Quit The UK To Avoid Higher Taxes - Poll Results
- Bankers Forced To Take Second Jobs To Make Ends Meet
- Goldman Kitten Payments Go A Stray
- More Compensation News
- Best Place To Work 2010 - Vote Now
- Banker Eye Test
- Goldman Sachs - View From The Top
- The Lloyd's Prayer
- Exec Claims Hedge Fund Boss Hired Hit Man To Kill Her
- $125m-A-Year Banker's Wife Says She Was Treated Like 'Mail-Order Bride'
- 'The Sell Out'
- 'Many Of You Have Seen Life Savings Vanish'
- Tough Times For Expenses - £5 For Lunch
- Tragic Banker Rehearsed Suicide Before Killing Himself
- Bear Stearns Fraud Case - The Verdict
- Even More Compensation News
- CEO Says That History Will Vindicate Him
- Traders Desperate To Get 'The Clap'
- Reservoir Gods
- Who Was Mr Angry During The Financial Crisis ?
- JPMorgan Chase Compensation Letter
- Regulator Warns - 'Yes, That Does Mean People Go To Jail'
- Brokers Complain Of Bailed-Out Banks Bullying Tactics
- Best Place To Work - Previous Winners
- Best Place To Work 2009 Results - The Top 100 Firms
- CEO Says He Could Top Himself & People Would Cheer
- Top Firm Hires 78-Yr-Old / Ex-Boss Says 'Sorry' For Citigroup
- Top Firm Said To Be At Loggerheads
Related Content
- Bank of America, BNP Paribas, Goldman, JPMorgan, Galleon Group (05/11/2009)
- Geithner For Goldman ? Surely Not! (19/09/2009)
- Nuns Have A Pop At Goldman (15/10/2009)
- Goldman Sachs Must Fail (18/10/2009)
- Goldman Needs To Give Away $1bn (29/10/2009)
- Goldman Responds To 'Huddles' Furore (28/08/2009)
And The Financial Times reports that the sale of BGI will mean that investment banking arm Barclays Capital will get an even higher profile within Barclays Group, as the UK bank strives to beef up profits without one of its crown jewels.
Not everyone is convinced, however, that Barclays will have it easy. The newspaper quotes Sandy Chen, an analyst over at Panmure Gordon, who said in a note to clients: 'Our concerns are longer-term, and relate to sustainability of the remaining group's earnings.....the remaining group will be highly exposed to the risks of increased dependency on the volatile earnings stream from BarCap, and rising impairments on the lending businesses'.
The Financial Times reports that Morgan Stanley and Citi may have to wait up to 2 years to get the most out of their $14bn brokerage joint venture, as it is likely to take that long for the firms to integrate their IT systems.
The newspaper also reports that Bank of America is to launch a $10m print and online advertising campaign this week, which will extol the virtues of Merrill Lynch. Merrill staff will no doubt be miffed - that's another $10m that could have gone in their bonus pot!
And The Daily Telegraph reports that ICAP CEO Michael Spencer saw his compensation fall $3.93 in the firm's last financial year, even though ICAP managed to marginally increase its profitability. Spencer, however, still managed to bag $11m (including long-term incentive awards).
Finally, The Independent reports that City Minister Lord Myners is determined to fight the EU to ensure that tighter hedge fund regulation won't simply mean that the industry ups sticks and quits London. Heaven forbid we lose the tax revenues!
Please use the 'E-Mail' button immediately under the article title to send this item to a friend.
