Much has been said about how graduates in England are struggling to find work, but spare a thought for their counterparts in France. Not only are 41% of French jobseekers under 25 unemployed (compared to 11.9% in the UK), but French banks' appetite for fresh financial services blood has been hit particularly hard by the decimation of the exotic equity derivatives market.
Bloomberg describes how one French graduate from a top university and with a six month internship has found it totally impossible to find a derivatives trading job. It also says that only 30% of graduates from the probabilities and finance program at Ecole Polytechnique have found finance jobs this year, down from 80% in 2008.
Broad support among UK political parties for deferring 50% of bonuses for five years. (Bloomberg)
The management of the FSA now faces a nightmare few months: given the high probability that its days are numbered, retaining and recruiting staff will not be easy. (Pestowire)
Lehman paid out $55 billion to employees in the decade to the end of 2008. Shareholders earned cumulative profits of zero, including the loss of all of their capital when the firm failed. (Economist)
Citigroup hires from Nomura for prime broking. (Emii)
Roger Jenkins is leaving Barclays. (Telegraph)
Had Goldman retained something it was once reputed to have -- a sense of short-term sacrifice in return for long-term profit -- it would have agreed to pay the government generously for the warrants. (CNN)
Can you imagine what it must be like to be Lucas Van Praag, the spokesman for Goldman Sachs? (Clusterstock)
Beware the spread betting house husband. (Telegraph)