Lunchtime(ish) Links: A sign that jobs are still going to India
A group of Deutsche Bank prop traders have demonstrated that there is life beyond investment banking. According to Bloomberg, the German bank's quant trading group has formed a hedge fund called Roc Capital, which has already raised $1.2bn.
Deutsche's quant traders appear to made the move after the bank 'scaled back risk taking' and found them surplus to requirement. It's therefore fortuitous that more than 20 of them will be re-employed by Roc. However, twice as many jobs are being created in India. According to Bloomberg, Roc will be supported by a team of 40 people on the Subcontinent.
No appeals will be allowed against the decisions of the pay Czar. (Becker-Posner)
Citigroup admits finding it harder to attract and retain employees, but gives no date for TARP repayment. (Reuters)
What will Citigroup look like in 2015? (DealJournal)
3i freezes pay and halts bonuses. (Financial News)
Credit Suisse hires FIG banker in China. (Bloomberg)
Barclays Capital hires for its US mortgage business. (Bloomberg)
Greenhill hires two from UBS in London. (DealBook)
Lazard picks up ex-Merrill telecom banking star. (Wall Street Journal)
Banks face $283bn of fresh writedowns. (Financial Times)
Barclays Wealth makes clients go through psychometric tests to establish their appetite for risk. (Bloomberg)
Bikini-clad Cambridge students indulge in midday vomiting. (Telegraph)
