It's that time of year when long days in the office seem wasted and everyone's trying to situate themselves on the grassy area knoll for lunch. It's also that time of year when you feel like going on holiday - maybe until August, or even September. This is what one senior M&A banker at J.P. Morgan in London has just achieved.
Jonathan Wilson, a senior UK coverage banker at J.P. Morgan, will not be working again until September. Unfortunately, he has had to quit his job to achieve this.
The good news is that Wilson has obtained another job, starting in three months' time at Jefferies in London. The new job is even a promotion: Wilson is joining Jefferies as head of UK investment banking. There's a lot to be said for gardening leave.
Separately, it has become apparent that billionaire hedge fund manager Steve Cohen had a pet pig called Romeo which was the size of a large dog. Romeo had his own room in Cohen's house and became a member of the family. Unfortunately, Romeo's size became prohibitive and he became temperamental and had to be relocated to a pig sanctuary in Florida. “Most people get one of those Vietnamese teacup pigs, but Romeo is the size of a German Shepherd who has eaten too much,” said Cohen's friend.
Steve Cohen was the mystery buyer of Giacometti’s 'Pointing Man' (for $141m). (New York Times)
Deutsche Bank’s credit rating is only three notches above junk. This is bad news for its fixed income business. (Business Insider)
UBS's investment bank has done incredibly well since the financial crisis. (Bloomberg)
Bill Winters could have worked for RBS, UBS, Barclays or Deutsche Bank. (Financial Times)
Barclays has become the leading European investment bank. (Euromoney)
Rob Ebert, the British head of Asian equities trading for Deutsche Bank, has been arrested in Hong Kong for running a man over in his £380k Ferrari. (Evening Standard)
The potential jail sentence for market abuse in the UK is being increased from seven to 10 years. (Telegraph)
HSBC’s investment bank could shed more than a fifth of its clients. (Reuters)
Rothschild just hired a private banker from Credit Suisse to boost its private wealth business in Manchester. (Citywire)
U.K. hedge fund Algebris Investments just hired Simon Peters, an equities manager from Pimco. (WSJ)
How to communicate with the British. (Twitter)