Maybe Jerry Del Missier has run out of money. Maybe he's bored. Maybe he's had long enough to recuperate from his previous role. Either way, the former COO Of Barclays is back. And he's not displaying the accoutrements of success.
Financial News reports that Canadian-born Del Missier is opening a new private equity-style company to invest in, 'existing financial institutions or high growth entrants.' Del Missier earned £14.3m for 2010 and received £9m in deferred bonuses even after leaving Barclays in June 2012. However, there's little sign of Del Missier's Barclays wealth in the location of his new venture, Copper Street Capital. Copper Street is currently being run from serviced offices in Maidenhead, an inauspicious suburb of London near Heathrow Airport. Its neighbours include a taxi firm and a chilled food distributor. This hasn't dissuaded Joseph McNeila, a former MD from Goldman Sachs, from getting in at the start as CIO.
Separately, Goldman Sachs is going into a new market. Bloomberg says it wants to own and trade stocks in Saudi Arabia and has applied for a licence to do so. Goldman already has an office in Riyadh. Now may be the time to send in your CV.
Pier Luigi Colizzi, Barclays' head of banking in Italy, is replacing Matthew Ponsonby as head of M&A in Europe, the Middle East and Africa at the bank. (Financial News)
Credit Suisse hired Daniel McNeill of J.P. Morgan. to lead its equity-derivatives unit for the Americas. (Bloomberg)
Alexander Karolev has left HSBC to join BNP Paribas as emerging markets debt syndicate manager. (Reuters)
Citigroup hired John Lowrey to be global head of cash electronic execution as the bank invests in a stock-trading business ranked last by revenue among the five largest Wall Street firms. (Bloomberg)
Leveraged swaps are the new new thing. (Bloomberg)
What to do if you feel stuck in the wrong career. (HBR)
Why CFA III is the toughest exam of them all. (300 Hours)
How to function when you’ve had no sleep. (Business Insider)
MIT’s introduction to Poker Theory. (Open Culture)
50 Cent reveals that his lifestyle was an illusion: The cars and jewelry were on loan. (NY Daily News)