Lunchtime Links: Big hiring and collapsing EMEA revenues at JPMorgan; and revisiting some scary bonus suggestions

JPMorgan' has initiated 2nd quarter reporting season and released its 2Q results. There's a lot of excitement about how overall profits are up 76%, but it's not all wonderful.

In particular, something seems to be up at JPMorgan's investment bank in EMEA. While revenues across the bank fell 24% q-on-q, revenues in EMEA fell 45%. This didn't prevent the investment bank from adding 1,300 people (globally) over the past quarter, more than at any time since the addition of all those Bear Stearns staff in the second quarter of 2008.

Totally separately, Martin Wolf has resurrected some scary suggestions for resolving bonus issues in a paper on the Future of Finance for the Centre for Economic Performance. Briefly, Wolf approves of the notion that bankers should be personally liable for repaying all bonuses over 50k for the ten years after they've received them if their employer gets into trouble.

"Evidently, such reforms would be far better implemented if they applied across

borders. But, if necessary, countries should go their own way, since they have a vital

national interest in ensuring the safety of the balance sheets of their own firms," Wolf suggests.

JPMorgan does have internal talent it can promote. (Financial Times)

There is a hiring spree on in securitization. (Financial Times)

A trader has left Deutsche for a hedge fund. (DealBook)

RBS has hired another equity researcher. (Bloomberg)

BofA ML has made a senior private banker redundant following a restructuring. (Wealthbriefing)

Wealth managers covet hedge fund managers' pay. (Felix Salmon)

US hedge fund managers are preparing large rural ranches as a special hedge against social implosion. (NY Observer)

Unshaven Kleinwort Benson chief blames RBS for the bonus tax. (Evening Standard)

Botox economics. (Satyajitdas)