If all goes well with the latest attempt by former and current Dresdner bankers to retrieve allegedly unpaid bonuses from Commerzbank, Jonathan Powell, a senior FX options trader, could end up doing rather well.
At €1.7m, Financial News says Powell's claim is the most elevated of the lot. Unlike many of the other big claimants, has also been re-employed at Barclays Capital, and may therefore be assured of a large bonus from his current place of work.
Surprisingly, Financial News reveals that more than 20 of the new 72 Dresdner claimants are still employed by Commerzbank. For example, Clive Tucker, a Commerz interest rate derivatives trader, is seeking to claim €743k from his employer. Whether this will pay in the long run is open to question.
Lloyd Blankfein agrees that some areas of investment banking are socially redundant. (Financial Times)
"Banks can't let star performers slip through their fingers by being tight-fisted. (Wall Street Journal)
Josef Ackermann is all for tighter capital rules. (Financial Times)
Hedge fund rehires two people it let go. (Bloomberg)
Central bankers should get performance pay. (Wall Street Journal)
"The bankers knew that they were involved in an under-pricing of risk and that at some point a correction would be made." (The Times)
On the Wednesday and Thursday after Lehman filed for Chapter 11, I asked my wife to please go to the ATM and take as much cash as she could. (CNN)
Grubel says UBS bankers are in for 'hard work' (Wall Street Journal)
HSBC should pay the biggest bonuses. (Reuters)
French bankers defend their payouts. (DealBook)
Spend your weekend touring the Bank of England. (Bloomberg)
Sri Lanka has the fastest high frequency traders. (Alea)
The movie trailer principal of investment banking pay. (The Atlantic)
How much graduates earn over a lifetime. (The Economist)