Lunchtime-ish Links: Lose your job; receive 20% of your bonus

Damian Chunilal, the former head of Asia Pac investment banking at Merrill Lynch, is not happy about his last bonus. According to Bloomberg, Chunilal was fired in November 2008, one month before his bonus was due to be allocated and two months before the bank merged with BofA. In the event, he received $2.3m, which was a mere 20% of what he got in 2007.

Chunilal was apparently told that it was common practice at ML to pay 20% of the previous year's bonus to people who were let go.

Interestingly, he's chosen to fight his case for a higher payout in London rather than Asia. This follows a spurt of successful cases in which bankers in London have fought for unpaid bonuses, and actually won.

Yet another Morgan Stanley banker is leaving for a hedge fund. (BusinessWeek)

Average pay at Och Ziff Europe is $1m. (Financial News)

GLG's macro hedge fund was up 8% in May. (Financial Times)

Why you may wish to work for Investec. (Telegraph)

Average FSA bonus was 7.2k. (The Times)

Mervyn King as Adair Turner's boss? Hmmm. That doesn't sound like a sustainable or even plausible relationship. (BBC)

The French regulator wants to increase headcount by one third. (Financial News)

German millionaires volunteer to pay 'rich tax.' (CNBC)

It's as if Jerome Kerviel had a mandate to buy 10 tons of strawberries but bought 100 tons of potatoes and the supervisor passes through the hangar every day and says nothing." (Evening Standard)

Weird Dealbreaker journalist fired for emailing people who commented on articles and saying he knew where they worked. (Felix Salmon)

Financial Times for poor people. (Fintag)

How to destroy a black hole. (Technology Review)