Lunchtime Links: Goldman overcomes "tremendous" loss of talent, appoints lots of MDs
Yesterday, Meredith Whitney suggested life hasn't been as easy for Goldman as one might think. Despite paying more than anywhere else, returning TARP money, and being publically contrite, Meredith people said Goldman is leaking people. Specifically, she said,, "Goldman's lost a tremendous amount of talent going to set up their own hedge funds."
Whitney didn't specify who the tremendous talents were, but she may have been thinking of Shafiq Karmali, Sanjiv Bhatia, or Mark McGoldrick. Mark Carhart also left to set up a hedge fund, but this may have been by mutual consent.
Despite leaching all this Talent, Goldman has managed to identify 272 people to be managing directors, considerably more than the 94 it mustered last year.
May the mystic fire of cash burn within them. (Moneyistheway)
Goldman shareholders are now asking for it to cut bonuses too. (WSJ)
Goldman relocating US exec to run its European bank loans, high-yield capital markets and restructuring business. (Bloomberg)
"It is a remarkable turnround: all of Goldman's virtues - its profitability, its discretion and its closeness to government - have turned into perceived vices." (FT)
UBS hires former ICAP trader as head of hedge fund sales. (Bloomberg)
Standard Bank is growing its corporate and investment bank globally. (Reuters)
JP Morgan wants to be top in all businesses, all across Europe. (Telegraph)
Hiring boom in mortgage restructuring. (WSJ)
10 characteristics of successful traders. (The Kirk Report) (HT (Alphaville)
The outlook for banks in 2010. (SenseonCents)
Martin Wolf is for a windfall tax on bonuses. (FT)
St Paul's Cathedral is looking for a "Lay Canon - Finance". (The Times)