Lunchtime Links: Forget US banks, Russians, Indians and Italians are hiring
According to the Financial Times, recruitment in the City this year isn't being driven by the usual US suspects, but by a collection of Russian, Indian and Italian firms.
The FT highlights the hiring going on at Renaissance Capital (which plans to recruit between 200 and 250 people in 2010), Religare (planning to hire 80 people as it expands beyond India) and Troika Dialog. It says there is hiring too at Mediobanca, which aspires to build an entire equity research team, having poached a senior analyst from BofA Merrill.
US banks appear to be doing their best to ward off the upstarts. The FT cites "one banker" at one of the non-US competitors who says he made a bid for someone at 8am and that person received counter-offers from Goldman Sachs and Morgan Stanley by midday.
So much for banks making money in India. (Bloomberg)
Several traders were recently offered $5m to $10m to stay at their firms instead of bolting to a rival. (WSJ)
Bill Winters got $11.8m in cash and can't hire anyone out of JP Morgan until January 2011. (Financial News)
SocGen wants to hire more than 100 US corporate and investment bankers this year. (Financial News)
HSBC wants 100 new 'International Managers.' (Financial Times)
Bob Diamond: the socially useless and unjustifiable face of banking. (The Times)
How the 60m figure for Bob Diamond's pay came about. (Guardian)
Who is David Tepper? (Guardian)
James Gorman will earn more than Lloyd Blankfein. (Reuters)
The IMF is poised to propose a new 'excess profits tax' on banks. (Telegraph)
FSA might force banks to inject a lot more capital into their UK businesses (Goldman, and some European banks, will be spared) (Times)
The FSA has frozen the assets of the 'insider dealers' and is only allowing them 300 a week to live on. (Goldman, and some European banks, will be spared) (Telegraph)
"I'm all for this hiring women thing, but not if it's going to cost me three of my men every time you can't do something." (Telegraph)
