If you're one of the 37% of people who say they're fed up with their banking careers and who want to go off and do something else, a solution may be at hand. FinTech Innovation Lab, the New York-based financial services accelerator has turned up in London and is looking for entrepreneurs with ideas for "cutting-edge technologies" related to the financial services sector.
A selected few with the most promising ideas will be invited to, "refine and test their financial technologies" during a 12 week mentoring programme. At the end of this programme, they will be allowed to present their concepts to, "chief technology officers and senior technology executives from participating firms and potential investors."
To apply, click here. To give you an idea what they're looking for, previous FinTech-supported start-ups have included compliance training in the form of a graphic novel and companies providing software designed to spy on internal emails. You don't have to be based in the UK to participate, but you have to be prepared to come to London during the 12 week programme.
Temasek might sell its £6bn holding in Standard Chartered. Maybe JPMorgan will buy it? (Financial Times)
StanChart trades at a 1.4 times multiple of book value. Most other banks trade at less than half that. (Financial Times again)
UBS has hired a head of natural resources banking for Asia from Nomura. This is despite natural resources being one of the sectors that Nomura intends to focus upon. (Wall Street Journal)
Libor tweaking was allegedly widespread at RBS. These are all the people who were allegedly involved in it. (Bloomberg)
Vince Cable says the next Bank of England chief must be independent of the banking system and implies no bankers have applied anyway. (Bloomberg)
Bad news for bonuses at Bank of America Merrill Lynch? The bank lost $10m on a mistake related to an options trade. (Wall Street Journal)
Matthieu Pigasse, a French banker who likes punk music and works for Lazard, is going to be in charge of a new unit promoting financial advisory services in Africa. (Financial News)
Divulging how much senior bankers are paid could be a psychological trigger for excessive risk-taking. (Peerreviewedbymyneurons)
David Viniar’s secret: even when he says no, people like him. (WSJ)
Interesting tool showing who migrated in and out of various towns and cities in the UK last year. (Neighbourhood statistics)
John Thain would like a new, bigger, job. (Fox Business)