Lunchtime Links: Decimation in JPMorgan equity research

Reuters bloggers unearthed an interesting story which went unnoticed amongst the G20 excitement. Apparently, JPMorgan is cutting 30% of its equity research department. One London equity research headhunter confirms cuts were indeed made last week, but says they were more in the order of 15%, and mostly involved the removal of associates and senior associates in research, sales, and sales trading. He says the head of Asian sales, head of cash German cash equities, and a senior media analyst were also among the casualties.

Employees who invested in ML stock successfully sue for $75m. (Reuters)

Meredith W says banks may show temporary first quarter improvement thanks to write-ups. (CNBC)

Profits plummet at Michael Page. (FT)

Deutsche, Rothschild and Credit Suisse are picking up talent. (FT)

World economy falling faster than 1929. (Naked Capitalism)

Trader turns tour guide. (Business Insider)

130k bonus for head of a comprehensive school. (The Times)