UK giant HSBC cans bankers on bonus day – New York Post
British banking giant HSBC fired a group of investment banks on a set day to learn the size of the bonus and refused to make annual payments, according to the report. The London-based lender reported that it was handed over to financial operators and Hong Kong last month after it announced it had focused on […]
Investment bankers say Trump mergers and acquisitions boom already underway
Constellation Research CEO R 'Ray' Wang and Heritage Foundation financial economist EJ Antoni join Mornings with Maria to discuss the outlook for 2025. With one week left until President-elect Donald Trump's official inauguration, investment bankers say a boom in Trump-related deal making has already begun, exploding trading activity that had been stymied by the regulatory-heavy […]
Barclays under fire for sacking 15 Wall Street bankers, cancelling bonuses before holidays | Company Business News – Mint
Weeks before the holiday season, Barclays laid off 15 New York-based bankers and traders and 35 other employees without annual bonuses. The measure has sparked a backlash and raised potential legal issues. The Times of India reports that the UK-based bank's job cuts have left affected professionals upset as they miss out on year-end bonuses, […]
Barclays fires bankers before Christmas, keeps their bonuses: sources
More than a dozen bankers and traders at New York-based Barclays were fired just before the holidays, denied bonuses and left with coal in their stockings, The Post has learned. Unscrupulous agents at British-based financial giant Barclays last month canned 15 of the roughly 50 Wall Street employees caught up in the financial crisis, two […]
Wall Street bankers ‘snort lines of crushed Adderall from their desk’
According to the report, Wall Street's cutthroat office culture forces young bankers to resort to snorting rows of crushed Adderall pills from their desks to get through 22-hour workdays. It is said that there is. People in their 20s and 30s aiming to advance in the financial industry told the Wall Street Journal “Nobody even […]
JPMorgan’s Jamie Dimon says bankers ‘dancing in the street’ on Trump win
JPMorgan Chase & Co. CEO Jamie Dimon said Wall Street bankers expect President-elect Donald Trump to ease strict regulations across industries, regardless of who they vote for. He said they were “dancing in the streets” over his victory. “A lot of bankers are like dancing in the street, because there's been regulations that have been […]
China Taps Global Bankers for Feedback to Lift Market Confidence – Yahoo Finance
(Bloomberg) — China’s securities regulator is gradually increasing the frequency of its interactions with banks around the world, according to people familiar with the matter, with the aim of gathering views on recent economic stimulus measures. Consultations that used to be held quarterly have been stepped up to once a week or occasional inquiries in […]
Goldman Sachs names dozens of bankers to ‘Wall Street’s most exclusive club’
Goldman Sachs named 95 new partners Thursday, adding dozens of bankers to Wall Street's most exclusive club. This is the highest number since former CEO Lloyd Blankfein promoted 115 financiers in 2006. Goldman's latest class of new partners includes 26 female bankers, the largest group to date since David Solomon became CEO in 2018. The […]
Wall Street CEO Peter Orszag downplays worries about junior bankers’ long hours
Wall Street's top chief executive has rejected concerns that young bankers are suffering from burnout, arguing that junior staff should be able to tolerate long hours in “interesting” work. Lazard CEO Peter Orszag appeared to downplay criticism that newcomers to the banking industry are overworked, even as JPMorgan is limiting the hours of junior team […]
Bank of America is making it harder for junior bankers to lie about their work hours – Fortune
Bank of America is rolling out new tools to more closely monitor the hours worked by junior investment bankers, part of a larger trend by banks to limit the hours of younger employees in the months following the sudden death of a junior associate. Bank of America's new monitoring tools, due to take effect next […]