A former Macquarie worker yesterday tearfully told the NSW Supreme Court of the intense pressure he said led him to conduct irregular trading, netting him about $3.6m. Oswyn De Silva said he was stressed because he was “being told to perform, how to cut my hair, told how to dress, being told I looked too young for the role”. (news.com.au)

Wall Street boutique investment bank Greenhill & Co will buy Australian financial advisory firm Caliburn Partnership for $US91m ($99.6m) in shares. (Sydney Morning Herald)

National Australia Bank revealed yesterday that its $18.4bn portfolio of troubled credit instruments had caused losses of $1.3bn over the past two years. It was NAB’s first disclosure of the damage done by the holdings. (The Age)

Citibank has ambitious plans to end the big four’s stranglehold on consumer credit cards. (The Australian)

A witness in the damning US inquiry into the collapse of Lehman Brothers was laid off by the bank a month after he raised concerns about the way it had accounted for $US50bn of risky loans. (The Australian)