UK
This time last year, investment bankers were particularly fearful for their jobs. That honour now goes to wealth and asset managers
Deutsche Bank’s Q2 results show headcount reductions are moderating in its investment bank, but accelerating in its asset and wealth management unit. Deutsche added 600 people to the asset and wealth management business over the course of 2008, and eliminated 760 over the past quarter.
Redundancies also continued in Deutsche’s corporate banking and securities unit, but at a slower pace: 603 corporate banking and securities jobs went in the first quarter, 213 went in the last one .
Income’s up at Deutsche Bank, but so are bad debts. (Bloomberg)
Deutsche’s disappointing debt trading performance. (Marketwatch)
Deutsche had “one of the best quarters ever” for interest rate trading. (Financial Times)
Deutsche still has €64 billion in level three assets. (Wall Street Journal)
JPMorgan gears up for a prime brokerage push. (Reuters)
Large number of US prop traders said to quit JPMorgan for BarCap. (Dealbreaker)
Jefferies hires five people in equities sales trading and research. (IDD)
Barclays has hired 200 people in Tokyo since last autumn, adds another one. (Bloomberg)
IT staff are rather well placed to elicit generous redundancy payments. (Alphaville)
Hedge funds outsourcing IT staff. (FinAlternatives)
Filmed before Wall Street’s October 1987 crash, TRADER is a riveting one hour documentary of a fascinating man, Paul Tudor Jones II. (Alphaville)
Investing rules for the end of civilization. (MarketWatch)
Senior bankers take private jets to avoid swine flu. (Bristol News)
I really am very pleased to read this. From comfy leather chairs to the chill plastic of hard yellow bucket seats as they await their turn at their local DSS. Bring it on. Tootlepip !!