Australian retail banks have been the most aggressive across the Asian region to slash their workforces so far this year, despite maintaining profitability and surviving the financial crisis in the best shape in the world.
Just one year after the collapse of Lehman Brothers, and the most tumultuous days in the markets since the Great Depression, the bonuses are back, the debts have shifted from private to public sectors, and little seems to have changed. (Business Day)
For years Nomura has marketed itself as a global investment bank with deep roots in Asia. But a year after acquiring most of Lehman Brothers’ businesses in Europe, Asia and the Middle East when the Wall Street institution collapsed, Nomura’s biggest challenge lies in playing down those Asian roots. (Financial Times)