If you are blonde and you want to remain so, it may be inadvisable to work at Goldman Sachs. In an article in the Sunday Times, author Bethany Mclean, who has just co-written a book about the disintegration of Merrill Lynch and very clearly has dark hair claimed that she used to be blonde until she went to work at Goldman.
According to McLean, the stress of working 100 hour weeks as an analyst in M&A was responsible for the follicular metamorphosis. McLean said that she did not like working at Goldman: "They were the worst few years in my life."
Separately, any senior Morgan Stanley bankers who have suffered trichosis as a result of overwork can't expect to be compensated in this year's bonus round.
The New York Post reports that James Gorman is mounting a double-pronged attack on senior bankers' bonuses and senior bankers' egos. Last year, at least 25 people at Morgan Stanley had seven or eight figure pay packages apparently (not that this sounds particularly large, given that 700 people got bonuses of more than $1m at Merrill in 2008). This year, Gorman is going to be squeezing the highest paid in particular.
The EU will be paying the executive directors of its new regulatory agencies a mere €177k. (Financial News)
"There is a perfectly workable global consensus on bonuses - 50 per cent in equity deferred for three years . The fact that the EU is trying to invent a different standard of its own - maximum 20 per cent in cash - is baffling." (The Times)
John Varley and Oliver Letwin are negotiating the banking bonus pact. (BBC)
"Goldman should split up into three parts: money management, trading and investment banking." (Wall Street Journal)
At least 5 banks have hired European equity researchers in recent weeks. (Financial News)
US banks are far more worried about the value of commercial real estate than the fate of the PIIGS. (Wall Street Journal)
Glencore is poised for a 30bn City float and has lined up Citigroup, Morgan Stanley and Credit Suisse for its listing. (The Times)
Bloomberg's going to build a large new headquarters near Bank station. (Financial Times)
John Cryan, CFO, is deserting UBS for unexplained personal reasons. (Financial Times)
JPMorgan has bought more than half the copper in reserve on the London Metal Exchange. (Telegraph)
JPMorgan silver price manipulation explained. (Wall Street Oasis)
If the euro area waits for the crisis to deepen, it will be forced into guaranteeing bank debt. (Telegraph)
What you need to know if you're an economics student at Berkeley. (BraddeLong)
The purchases spouses hide from each other. (CNN)
A short video which makes the snow entirely worthwhile. (Vimeo)