Lunchtime Links: Renaissance Capital is engaged in a 'rapid expansion of operations'

The changing fortunes of Russian banks epitomise all that is ephemeral about the industry: one minute it's all great; the next it's all terrible; the next it's all great again. Hence, Renaissance Capital, which only recently was scything staff all over the place, is now vigorously hiring again.

Financial News reports that RenCap has hired a senior person from Troika Dialog to run its FIG business and that it's engaged in a 'rapid expansion of its operations,' after trimming 40% of its workforce.

In London, 50% of RenCap's people were rudely parted with their employer. The bank started rebuilding its sales team last year.

BofA lost $5.2bn in Q4. (DealBook)

It is not as if Mr. Pandit, has not tried. (DealBook)

Citigroup trimmed expenses in securities and banking by 17%. (Citigroup)

UBS and BofA Merrill may be interested Credit Suisse's impoverished MDs. (Financial Times)

Lloyd Blankfein strongly suspected of letting Morgan Stanley go first. (NY Post)

SocGen's star troubles. (Reuters)

Credit Suisse is moving its of head equity syndicate for Asia ex-Japan back to London after seven years in HK. (Bloomberg)

Australia has a plan to become an international financial centre. (The Australian)

New York's financial sector will pay an estimated $64.2 billion in bonuses this year, up from about $57 billion in 2009. (Reuters)

Pretty women anger more easily. (BBC)