Everyone knows that according to a simplistic calculation of average compensation, the typical person at Goldman Sachs earns a lot more than the typical person at almost any other organization you might care to think of.

Now, an equally simplistic calculation, and one used by Lloyd Blankfein himself, implies that Goldman’s London bankers are more handsomely rewarded than its bankers in New York.

According to The Times, Lloyd recently told bankers at Goldman’s new Wall Street headquarters, ‘Xanadu,’ that they’re fortunate to have earned an average of $196k per head between 2000 and 2008. However, Lloyd is said to have put the average income in London at 181k, or $304k – 55% higher.

Lloyd was JOKING. (Financial Times)

Just how sorry is Goldman Sachs? (SenseonCents)

AIG: “Would you be willing to accept, say, 70 cents on the dollar?”

Goldman: “No.”
(EpicureanDealMaker)

RBS dismisses eight corporate financiers in Hong Kong. (WSJ)

Standard Chartered plans to expand in Indian ECM. (Bloomberg)

Job losses likely in UK equities following the combination of JPMorgan and Caz. (Financial News)

Moynihan probably won’t replace Ken now. (NY Post)

“I was surprised that I was given no opportunity to say goodbye to my colleagues and staff, and why there was no orderly transition of my work to Mr. Moynihan.” (WSJ)

John Paulson: Bank of America is a double from here. (BusinessInsider)

John Thain says: “Bonuses did not cause excessive risk-taking and bonuses did not cause the financial crisis.” (Reuters)

“The key to Lazard is you have to be a player-coach. You have to have clients and be involved in big transactions. Otherwise, you get no respect.” (Financial News)

How Ebony Blue got a job. (CNN)

How to blow your business school interview. (BusinessInsider)

There is work to be had at Mothercare. (Evening Standard)