Lunchtime Links: It appears that Deutsche hasn't been particularly generous
Deutsche Bank released its fourth quarter results today. They show the bank increasing compensation in its corporate and investment bank by 33% compared to last year, to an average of €333k per head after severance payments have been deducted. Nevertheless, Deutsche (like most other banks) has been substantially less generous than it might have been: the compensation ratio in the corporate and investment bank plummeted to a mere 27%, down from 120% in 2008.
The reduction might have something to do with the impeding UK bonus tax, which Deutsche said will amount to €225m. Severence costs also took their toll and the bank said the compensation ratio would have been 37% were it not for these factors.
Independent brokers will no longer seek lure bulge bracket bankers (Financial Times)
Everyone's waiting for Lloyd to reveal his bonus (New York Times)
The Volcker Rule appears to be doomed (Wall Street Journal)
Guy Hands' EMI nightmare (Financial Times)
Goldman partners in the UK expect to have their depleted bonuses made up in the form of stock by next year at the very latest (New York Post)
RenCap establishes FICC division as expansion begins (Financial News)
Bankers are asking for government help on curbing bonuses (Reuters)
The dangers of being a whistle-blower (Bloomberg)
Other people who have kept investment banking in the family (Financial News)
Bank of America also planning Asian hiring spree (Reuters)
Lazard intends to trim MD numbers (Financial News)
