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Merrill Lynch will “force out” veteran advisers who fail to produce at least $250,000 in annual client commissions and fees starting next year.
John Kinnucan is contesting a Wall Street Journal report that the FBI wanted him to wear a wire to record Michael Steinberg of Sigma Capital.
Oil trader Ira Eisenstein departed JPMorgan last week as a consequence of the bank’s restructuring its team after its acquisition of RBS Sempra Commodities LLP units. “A number of other people left at the same time,” Eisenstein said.
After the same re-structuring, Citadel hired JPMorgan’s former head of coal trading, Miguel Abreu to trade the commodity in the energy trading group in London.
D.E Shaw-backed Deepwater Wind has applied to federal authorities to build a 200-turbine project in Rhode Island Sound. That would make it the largest proposed offshore-wind farm in the United States.
Morgan Stanley bonuses will probably be down 10% to 25%. I-bankers and equity capital market employees, if performing well, might avoid compensation cuts.
Joel Greenblatt, the former hedge fund manager of Gotham Capital, is launching two mutual funds.
After months of speculation, Billy Joel has gone public with his 20-nine year old girlfriend Alexis Roderick. She’s a risk officer at Morgan Stanley.
Prince William broke the record for the biggest FX trade ever, with a ~$22 billion FX trade between Barclays and Credit Suisse on the phone at the ICAP London office on Wednesday.
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