Thinking of doing an MBA, but can’t afford the enormous fees? INSEAD has come up with a clever solution. According to the Telegraph, it’s setting up a fund which will issue bonds allowing alumni to invest in current students.

The fund promises a rate of return rate of return 4% above Euribor. Alumni will get their initial investment back, as long as no more than 30% of students default on the repayments. The idea is a clever one, but is contingent on alumni having spare cash – which may not be the case for anyone in the class of 2007 or 2008, who went into banking only to be made shortly redundant.

Goldman may award $22 billion in bonuses this year. Of those billions, the company may donate 10-15% to charity. (Gawker)

Goldman Sachs will likely either give away most of its bonuses in the form of stock, or significantly increase its charitable donations. (CNBC)

Mystery Meredith Whitney Goldman downgrade (FT Alphaville)

Six European bankers at Lehman Brothers are claiming 70m for lost pay and bonuses (Telegraph)

Citigroup’s new M&A European heads (Deal Journal)

28% of staff have left RBS Coutts in Singapore. The bank plans to hire 200 more staff in Asia over the next five years. (Dealbook)

Lloyds Banking Group may have to pay out at least 300m in fees to investment bankers to underwrite its planned 11 billion rights issue (Times)

Bankers will follow hedge funds to Switzerland (Bloomberg)

JPMorgan’s top executives have embarked on a charm offensive to allay fears by staff and regulators that the ousting of Bill Winters as co-head of the investment bank will mean a diminished role for its London operations. (Financial Times)

Further proof that no one does campus recruiting better than a Wall Street investment bank.
(Baseline Scenario)