There was a bloodbath today at RBS’s Samford, Connecticut offices with 20 traders and sales people from the credit desk being axed alone. According to Charlie Gasparino, traders who got cut said RBS will lay off 30-35% of the fixed income unit. He doesn’t know if it’s US-only or global.An unnamed source tells ValueWalk that in Europe things David Tepper’s Appaloosa have been looking at, “…. include ‘real’ companies in peripheral Euro countries, such as EDP, Portugal Telecom. I also know a few CMBS issues.”
A banker in Australia hopped on his bike and helped police track down a suspicious man believed to be part of an international criminal gang that targets ATMs.
Veteran portfolio manager Patrick Evershed his suing his former employer New Star Asset Management’s founder John Duffield for allegedly bullying him.
JPMorgan’s chief executive Jamie Dimon beat Goldman Sachs’ Lloyd Blankfein on this year’s Forbes’ “World’s Most Powerful People” list.
Sallie Krawcheck, the former head of global wealth and investment management at BofA Merrill Lynch, made one of her first public speaking appearances since being ousted from the bank.
Unidentified burglars broke into the house of a banker named Mohammed Siraj in India and stole cash, jewelry and one cell phone while he was at work.
Boutique investment bank Moelis & Co. hired John Thorndike, a Credit Suisse managing director and senior adviser, to focus on large power company clients.
During the month of October, bank customers removed $4.5 billion and credit unions gained 650,000 new customers.
According to a study commissioned by the St. Paul’s Institute, 79% of Financial Services professionals in London don’t, or chose not to answer the question, “What do you think the motto of the London Stock Exchangeis?” (It’s “My word is my bond.”)
Citigroup has put $800 million of its shareholders’ money into private equity and hedge funds during the third-quarter even though federal regulators are trying to curb those investment practices.
Movie star Robert De Niro will play infamous Ponzi schemer Bernie Madoff in HBO produced film of the book “Truth And Consequences”
Goldman Sachs and Financial Times Book of the Year awards dinner served a dessert that caused quite a stir — Roquefort (sheep milk blue cheese) flavored ice cream.
HSBC analyst Toby Carroll, who was arrested and jailed for two months in Dubai for having extramarital sex with an ex-stripper when his ex-girlfriend walked in wielding a knife, was spotted with an old fling in New Zealand recently.
Former hedge funders leaving Greenwich, Connecticut are having trouble selling their homes.