Liberal Democrat treasury spokesperson Vince Cable has added a few of his own proposals to the banking reform debate. Most notably, they include the suggestion that all bankers earning more than 200k should be named and the details of their compensation revealed.
Cable appears to have selected 200k as the cut off point for naming (and shaming) as it’s the salary of the Prime Minister. It’s also around six times the average UK household income at the last count. However, 200k isn’t unheard of for a first year associate. If Cable’s proposals were enforced (unlikely), the resulting list is likely to very long.
“One of the consequences of this [the Tory reform plans] could be that Barclays would choose to spin off Barclays Capital. We are relaxed about that.” (Independent)
Maybe Diane Jenkin’s flamboyant ways weren’t so good for her husband after all. (Dealbook)
Obama says bankers feel no remorse. (Reuters)
Goldman has absolutely no plans to give up its status as a commercial bank. (Dealbreaker)
Hedge fund execs moving back to banking. (Dealbook)
Moelis & Co hires Caroline Silver, formerly vice chairman of EMEA Investment Banking at Bank of America Merrill Lynch. (Yahoo)
Deloitte has hired 100 people and seven new partners for its insolvency practice so far this year. (Bloomberg)
Chinese university graduates haven’t got jobs after all. (CNBC)
Ex-Lehman banker spent entire year looking for something new. (Wall Street Journal)
Buy it now: Brand new Lehman Brothers T shirt, free shipping. (eBay)