Lunchtime Links: Lloyds is hiring 35 people for fixed income!
Never let it be said that British banks like to miss a party. Just fifteen months since the fixed income rally began, Lloyds appears to have decided that it probably ought to get onboard. It looks like the UK bank, which was apparently paying generously for FX traders back in February, now wants to hire more broadly across the sector.
According to Bloomberg, Lloyds aspires to hire 35 fixed income sales and trading staff, including 25 salespeople and ten traders.
The bank has declined to comment. However, if the rumours are true, it may find competition for fixed income salespeople and traders tough given its status as a government-owned bank. UBS, Morgan Stanley, Credit Suisse and BofA Merrill Lynch are on the look out for similar candidates.
James Gorman is not satisfied with Morgan Stanley's performance. (Letter to shareholders)
Standard Chartered plans to hire in the Middle East and Africa. (Bloomberg)
Liberum has hired someone from Cazenove! (Bloomberg)
If Lazard cuts pay, its stock may rise. (Reuters)
Switzerland might impose a tax on bonuses too. (Reuters)
The current US financial reform bill still contains vestiges of Volcker Rule banning prop trading and pe businesses. (NY Times)
In the City you have to sell your soul, work long hours and become a pretty nasty person at times.
Did energy shortages cause the financial crisis? (MarginalRevolution)
This is what may happen if you return drunk to the office (DealBreaker)
