Daily Dispatches: Goldmans gets GLAM
Goldmans Sachs will introduce a scorecard for its senior managers, linking their bonus payments to success in encouraging diversity in the workplace. The scheme, to be introduced next year, is being finalised after more than six months of development. Goldman Sachs has tried to increase diversity by establishing an internal self-governing women's network with 300 male and female members, in addition to a Gays, Lesbians and Mates (GLAM) Group, as well as a working parent network. (The Australian)
Macquarie's goal to grow its European and Middle East business was delivered a blow on the weekend when the chief executive for the region, Benoit Savoret, unexpectedly quit after just one month in the role. The move is thought to have caught Macquarie offguard, after the bank hired him following a distinguished investment banking career at Lehman Brothers and Societe Generale. (The Australian)
An ambitious plan by Sir Richard Branson's Virgin Money to become a significant player in the British banking market has been backed by an American billionaire, Wilbur Ross, in a move that is likely to put them in direct competition with National Australia Bank.
Ross has promised an investment of about 500m ($A826m) as part of an expected 2bn Virgin Money will need to raise to buy 318 branches from Royal Bank of Scotland. Bids are due to be submitted to RBS today. (The Age)
Job advertisements improved modestly in March, building on the previous month's big jump, as employers showed continued demand for new staff. (Sydney Morning Herald)
Many Wall Street chief executives took a big pay cut for 2009, but their real value may have been in deflecting attention from their troops - who enjoyed the largest collective payday on record. (The Australian)
