Lunchtime Links: How to become chairman of an investment bank with four GCSEs

We may be slightly slow on this, but it has only come to our attention this morning that David Mayhew, chairman of Cazenove and one of the grandest of the City grandees, has not attended university and is equipped with only four O'levels.

Mayhew's ascension may mark the transcendence of hard work, luck, and street smarts over early academic mediocrity. It may also have something to do with the fact that he went to Eton, has impeccable manners and a fragrant (former model for a) spouse.

According to this gushing article from the Evening Standard in 2004, Mayhew was always destined for something, what with being, "Tall and lean, with a beak of a nose, solid-framed glasses and a head of swept-back hair, and always impeccably dressed."

More prosaically, Mayhew began his career at Panmure Gordon and rose up through the ranks before moving across to Cazenove. This would be harder to pull off today: Panmure Gordon tells us a degree is "required" for its front office roles in corporate finance, research and institutional equities, and "preferred" for most other jobs. Cazenove specifies a minimum of a 2.1 for all its graduate recruits.

Back office jobs are likely to go in the JPMorgan Caz merger. (Financial Times)

Caz hasn't imposed any lock-ins to retain its staff. (Financial News)

Actually, the Queen's speech was very vague on bonuses. (Telegraph)

Tomorrow's Walker Report is set to force the disclosure of high earners. (Guardian)

Panmure Gordon wants to grow its asset management arm. (Reuters)

Other City hires. (CityAm)

UBS appears to be over-optimistic about its prospects in fixed income. (Bloomberg)

There may actually be no better job in financial services than the hot seat at BofA. (BreakingViews)

"We have probably 15 to 20 Fed regulators in our building 24 hours a day." (Bloomberg)

An unemployed banker on the Appalachian trail. (Reuters)

Kicked out of finance and into journalism. (Felix Salmon)

SocGen tells its clients how to prepare for global collapse. (Telegraph)