Lunchtime Links: Enormous FX opportunities - in Hong Kong
According to most London FX recruiters, hiring in the sector is slightly off the boil this year. It's still happening, but it's not happening as fast as last year - yes, Credit Suisse wants 30 FX sales hires, but this is globally. Morgan Stanley's said to be looking in Europe (and has lost its head of emerging markets trading to Bluecrest), but hasn't made any announcements so far.
Given this comparative dearth of activity, it's therefore worthwhile noting that Australian bank ANZ has got big FX ambitions in Hong Kong. According to Bloomberg, ANZ plans to hire as many as 80 people as it expands its business in Asia. No timeline is given, but we assume it's happening soon.
It's ok: Gordon Brown's new bonus restrictions are the same as his old bonus restrictions. (Telegraph)
BlueCrest has relocated its tax headquarters (and 2 staff) to Guernsey. (The Times)
The entire systematic trading team - the brains behind BlueTrend, the AHL-beating algo-trading $10bn monolith - are upping sticks to Geneva. (Alphaville)
Troika Dialog - hired new head of equity sales, lost head of equity syndicate and corporate broking. (Financial News)
BofA Merrill is hiring in Australia as it attempts to regain its top three position. (Bloomberg)
Private bank poaching continues in Asia. (AsiaOne)
Fund management CEOs earn a lot less than banking ones. (The Times)
Major banks have masked their risk levels in the past five quarters by temporarily lowering their debt just before reporting it to the public. (WSJ)
Is Brian Moynihan any good? (Charlotte Observer)
Did Bruce Wasserstein ever have any real friends? (Dealbreaker)
"As I sit here today, I hold virtually every share of stock I acquired over a nearly 30-year career, and I watched it go from $50 to $30 to less than $1 a share. I watched the great majority of my personal net worth disappear." (Independent)
Rubin explained he never had executive responsibilities at Citi despite commanding a $15m yearly pay package for most of his tenure. (Financial Times)
Daughters make you more left wing. (Warwick University) (H/T Marginal Revolution)
