The former CEO of CIT group, Jeffrey Peek, has been hired as vice-chairman at Barclays Capital. He’ll be reporting to Skip McGee, head of i-banking. CIT was forced into bankruptcy while Peek was in charge.Jim Owen left Wall Street to become the CIO of… the centre for Cowboy Ethics and Leadership. The former asset manager thinks Wall Street could learn a thing or two about heroics, courage and loyalty from cowboys. (BTW – CIO stands for Chief Inspiration Officer, not Investment Officer.)
Australian beer brewer Fosters is in a “vulnerable” position in which the “whole company [is] now in play,” said a hedge fund manager watching the company (it’s “vulnerable” because Fosters rejected a $2.47 billion private equity offer for its wine business).
Goldman Sachs beat Blackstone (2nd) and JP Morgan (3rd) in an online survey about which is the best financial firm to work for.
China’s takeover continues – Now Chinese brands are trying to get more of their products placed in Hollywood movies. The country’s next goal is to have James Bond drive a Chinese car.
Goldman Sachs will pay a near-$30 million fine to British regulators for not revealing to them that the firm was being investigated by the SEC for the Abacus deal. The FSA said the bank’s early cooperation “knocked 30 per cent off” the original penalty.
Private-equity titans might be slammed with a second major tax hike in ’11. Max Baucus, who previously blocked attempts to raise the income tax paid by buyout firms, now supports the Enterprise Value Tax. The EVT “would more than double the tax bite when moguls cash out of their PE firms.”
Props to Citi for its upcoming philanthropic ‘Teammates In The Kitchen‘ event at Citi Field, where the bank will bring star ball players and stellar chefs to support two local community service groups.
BONUS: New York fashion week starts today… As if the city wasn’t already full of enough beautiful women to sate the appetite of banker boys, the influx of stunnders this week will be major!