If you’re one of the power-brokers in today’s world, you will know what is meant by ‘Zeitgeist at the Grove.’ If you’re not, you may think this is a fashion show in a leafy glade – in which case you would be very wrong.
Yesterday was the start of Google’s annual two day ‘Zeitgeist’ meeting in London. As in previous years, it’s taking place at the Grove Hotel in Herefordshire. If you’re not there, it will be because you didn’t have a ticket. If you haven’t got a ticket, it will be because Google didn’t invite you. How do you get invited? No one seems to know. “I was just asked,” one (non-banking) attendee told us. “My office dealt with it.”
Google declined to comment, except to say that Zeitgeist is a ‘closed event’ and there is nothing to add. Last year, Bill Clinton, Lily Cole and Jim O’Neill of Goldman Sachs were said to attend. This year, our source – speaking on condition of anonymity as she wants to ensure an invitation next year too – said there’s very little evidence of bankers anywhere and that there’s no one from the financial services industry on any panels.
“We’ve just finished a panel on the pleasure principle and are about to move into one on courage in the connected world,” she told us. “It’s very positive, very interesting, with a very eclectic group of people – academics, philosophers and thinkers. There seem to be a couple of hundred people here, but I haven’t seen any bankers at all.”
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Stop dissing bankers, says Mervyn King. (Telegraph)
The European Union may make fund managers pay half their bonuses into the funds they manage. (The Sunday Times)
US distressed debt hedge fund Monarch Capital is opening an office in London. (Financial Times)
Bloomberg is now a registered investment advisor. (CNBC)
Median starting salaries for graduates in finance: £29,250. (BBC)
After making 160 redundancies and cutting 40% of costs last year, 3i wants to take another £60m from operating costs. (Financial Times)
JPMorgan’s board has a “Jamie falls under a bus” candidate to replace him. (Financial Times)
EU bonus cap will be ready for the 2014-2015 bonus round. (The Times)
How to be a female computer programmer whilst fighting off sweaty men with pendulous earlobes. (NY Times)