Goldman's fourth quarter results showed average pay per head for 2008 came in at just 55% of the level of 2007. Now it seems the firm is doing its best to make amends. According to the Wall Street Journal, Goldman bankers are to take immediate delivery of tranches of restricted stock which they previously had to wait three years to access. Goldman is also said to have offered to buy-out employees who invested in its money-losing Whitehall 2007 fund.
Citi is still a bank (Wall Street Journal).
Citigroup now plans to narrow its focus to large corporations and rich individuals. (Wall Street Journal)
BofA subsidized for Merrill losses. (Wall Street)
Dimon damns 2009. (Financial Times)
Jefferies hires two for rates. (Financial News)
Credit Agricole hires for venture capital. (Private Equity Wire)
TD Securities hires a trader. (Financial News)
Ackermann is a 'strong believer' in investment banking. (Bloomberg)
Three months severance, no bonus at BarCap. (Dealbreaker)
The British Government is now sitting on a theoretical loss of 13.7bn on its bank investments. (The Times)
Watch out for offensive Australians. (Reuters)
Psychiatrist specializing in hedge fund managers. (FinAlternatives)
Steve Jobs on living and dying. (The Daily Beast)