Sign-on bonuses may have died an FSA-instigated death in investment banking, but they remain a feature of the teacher training sector. The Times reports that graduates with a 2.1 or above who train to become maths teachers can command bonuses of £20k. They're not called bonuses, however, they're called 'bounties.'
150 of these bounties are on offer. To receive one, you will need to apply via the Institute of Mathematics' website. The payment will be made in tranches over the first year of maths teacher training and The Times says it will not be reclaimed even if, having taken the money, you decide not to become a mathematical pedagogue after all.
Now that UBS is in such trouble over Libor, things are looking up for Bob Diamond. (Breaking Views)
Tom Hayes was an 'incredibly smart geek.' (Financial Times)
UBS has got a new head of equity capital markets in Asia. (WSJ)
UBS has hired Greg Kennedy from Barclays to lead FIG banking in the US. (Bloomberg)
The Parliamentary Commission on Banking Standards suggests the UK government may want to consider breaking up banks. (WSJ)
Only 42% of single manager hedge funds now charge a 2 and 20 performance fee. The average management fee is down to 1.6%. The average performance fee is down to 18.7%. (Institutional Investor)
IQ testing doesn’t work. (Science Daily)