Lunchtime links: The incredible shrinking banking giant
So, rumours have been rife this week that deep cuts within RBS's investment banking division are on the cards, but now there's an ominous sign they could be imminent. The Times reports that the resignation of its deputy head of global banking an markets, Leith Robertson, means further investment banking redundancies are due to be announced. He is generally credited as being "the face of RBS" to private equity firms as he set up the leveraged lending division in the 1990s.
Meanwhile, The Independent says that RBS is looking to offload some, if not all, of the Asian operations it acquired from ABN Amro, as well as US commercial banking functions.
French banks' management merry-go-round. (Financial News)
BofA's Ken Lewis subpoenaed over Merrill deal. (Bloomberg)
BarCap is on the brink of selling BGI. (FT Alphaville)
No it isn't. <a href="https://uk.reuters.com/article/topNews/idUKTRE51I2BM20090219" target="_blank"(Reuters)
Barclays Global Investors recruits senior Citi executive. (Dealbook)
Sir Allen Stanford was about to launch UK investment arm. (Telegraph)
Maybe he wanted another Gulfstream Aerospace G-IV. (Business Insider).
Crisis proof banking jobs. (Financial News)
More "magic circle" partner lay-offs. (Reuters)
No bonuses should be paid at bailout banks, says CBI chief. (Guardian)
Go work for a Canadian bank - "the envy of the world". <a href="https://www.ft.com/cms/s/0/55654d74-fec3-11dd-b19a-000077b07658.html?nclick_check=1" target="_blank"(Financial Times)
43k on champagne in one night for City banker, but the tax payer could foot the bill for other corporate jollies. (Telegraph)
Let them eat burgers. (Guardian)
"By pandering to public opinion by clamping down on City bonuses, the public finances will suffer." (Independent)
City Boy take note: Cocaine has never been cheaper. (BBC)
