If you’re wondering what to wear in the office, the Financial Times has a new wardrobe suggestion: winter shorts for women.
The paper spoke to two female bankers who discussed the virtues of wearing winter shorts in the office. One was Emma Saughton, 28, a risk analyst at Nomura. The other was Sarah Craig, 41, an executive director at Goldman Sachs.
Saughton said she absolutely wouldn’t be wearing any women’s winter shorts to Nomura, on the grounds that they are: “Just not part of business dress code.” At Goldman Sachs, however, Craig declared that shorts would be fairly fine: “GS is a very tolerant place, despite the widespread perceptions,” she told the FT. “I could get away with them, but I wouldn’t. While shorts are OK for junior staff, on me they would send out the wrong message.”
From this, it may possibly be extrapolated that Nomura is an uptight, besuited, place to work, whereas Goldman is more relaxed. Comments on this subject are welcome.
Lloyd Blankfein will have been disposed of by summer and Gary Cohn will have replaced him. (Fortune)
Lucas Van Praag accidentally discusses human nature: “I’m not sure you can actually come up with a system that prevents people from being greedy or jealous or lazy.” (Dealbook)
On the Lloyds Bank clawbacks: Mr Tookey will forgo £235,000 of his £942,000 bonus, Mr Tate £260,000 of his £1.05 million award, Ms Weir £218,000 of her £875,000 bonus. Mr Daniels will lose at least £360,000 of his £1.45 million award. (Telegraph)
On the suspended LIBOR traders: Two former traders at Royal Bank ofScotland, Brent Davies and Will Hall, are among the London-based executives named in the filings. Others are Peter O’Leary, a former HSBC executive, Guillaume Adolph, formerly at Deutsche Bank, and Paul Glands and Stuart Wiley, once traders at JP Morgan. (Sunday Times)
Eurozone banks now trade on just 0.4 times book value, less than half their US peers. (Financial Times)
Investment banks have paid their staff three times as much as they have generated in pre-tax profits over the past six years. (Financial News)
“We’ve not been very quick in running into Asia because it is high cost, high risk.” (The Times)
Credit Agricole is pulling out of Hungary and cutting 60 jobs. (Bloomberg)
Credit Suisse has sacked almost everyone at Clariden Leu. (FinNews)
It's rather political at RBS nowadays. (Telegraph)
This current bubble, if it is allowed to fester and develop into 2013, will have such widespread consequences when it bursts that it will make 2008 feel, relatively speaking, like a bull market. (Nomura Analyst)
Under cover of anonymity, Andy McNab is helping to place ex-military personnel in the City. (CityAm)
Something odd and interesting happens to a lot of people who become very successful. Once the initial thrill wears off, they come to perceive their success as "a catastrophe" and even as "a kind of death."(HBR)