Lunchtime Links: SocGen hiring in M&A?

Société Générale announced its full year results this morning and - surprise, surprise, its corporate and investment bank made a loss. At €235m euros, the damage was - however - a lot less than the €2.2bn incurred with the alleged assistance of Jerome Kerviel last year. Reuters reports that SocGEn will be selectively cutting jobs after restructuring management at its corporate and investment bank, and that to save cash its bankers will henceforth be encouraged to spend less time speaking on their mobile phones. Separately, Les Echos insists that SocGen won't be pulling out of equity derivatives trading, but that it will be 'reinforcing its coverage of major clients, with a notable focus on the profession of M&A.' Either we have misunderstood the nuances of the French language, or it sounds like SocGen might be in the market for some M&A staff.

Bring on the professional banking qualification. (Financial Times)

Gordon says: Anybody associated with a loss cannot receive a bonus. (The Times)

RBS may face an 8bn bill for toxic asset insurance. (Telegraph)

How to avoid the US pay limits in three easy steps. (Business Insider)

Goldman alumni less hot than they used to be. (DealBook)

Goldman Sachs bigshot Jon Winkelried is so out of here. (Business Insider)

It's ok: you could become a stay at home dad. (Evening Standard)

The richer people are, the ruder they are. (Bloomberg)

Americans' standard of living permanently crushed. (Business Insider)

FSA hires someone. (Financial Times)