Forget Goldman Sachs, which is cutting London salaries and nursing a 38% reduction in its share price since January, think Tudor Capital.
The Sunday Times pointed out yesterday that 95 people at the London arm of Tudor Capital shared a payout of 60m in the year to March. 35 of them were 'senior' staff who probably received the bulk of the payment.
Not only are Tudor Capital's UK staff rich, they are also coddled. The Times points out that they work in Great Burgh House in Epsom, a stately home with 25 acres of grounds, a pool, tennis courts, a gym and a bar. There's little indication on Tudor's European website that it's hiring, but the switchboard number is available here for all who wish to put themselves forward.
"This isn't just spookily similar to Soc Gen. It is exactly the same." (Telegraph)
"The true magnitude of the risk exposure was distorted because the positions had been offset in our systems with fictitious, forward settling, cash exchange traded fund positions, allegedly executed by the trader." (Financial Times)
"He wasn't very good at it," said one UBS executive. "He went long when the markets were at their peak, and short when they were at their bottom." (Financial Times)
The lingering sensation of post-Kerviel poor risk management at SocGen is discouraging some banks from acting as a counterparty with it. (Wall Street Journal)
The head of the markets division has left the FSA for personal reasons. (Financial Times)
The FSA has recruited Deloitte to investigate UBS because it doesn't appear to have the right expertise in-house. (Bloomberg)
This is no way to treat a decent GHANAIAN man who might have simply made a mistake. (WazobiaReport)
Wolfgang Schaeuble: We are working intensely on developing a financial transaction tax in Europe... (Reuters)
"I don't have any problem with nationalizing or expropriating banks. Put the document in front of me and I'll do it." (Bloomberg)
Obama wanted a plan to wind down Citigroup. (Bloomberg)
Does being ugly make you poor? (Telegraph)