Lunchtime Links: Deutsche and UBS seem to be paying MORE this year

Most of the banks that have reported Q2 results so far are paying less than this time last year. However, this does not apply to UBS or Deutsche.

Both banks reported their second quarter results this morning. Both are being more generous on a per head base to their investment bankers. Deutsche is being marginally more so. UBS is being massively more so.

On a mean basis, the average investment banker at Deutsche earned 1.8% more for the first half of 2010 than the first half of 2009. The average investment banker at UBS earned 25% more. This is exciting, except that UBS's apparent generosity may simply be down to a few generous FICC guarantees.

Investment banking revenues at UBS were...671% higher than this time last year. (Financial News)

'Anush Jain said Deutsche aims to double pretax profit at its operating businesses to €10bn by 2011, with about two-thirds of the target amount coming from the corporate banking and securities unit and the rest from transaction and retail banking and asset and wealth management.' (Alphaville)

Here's who's in charge of Deutsche. (Bloomberg)

Vince Cable wants to extend mandatory lending targets to HSBC, Barclays and Santander. (The Times)

Vince Cable: banks should be "very, very self conscious" about how they pay. (Guardian)

BarCap US analyst bonuses are not pretty. (Dealbreaker)

The average bonus at UKFI last year was 16.5k. (Financial News)

Citigroup's hired a new head of EMEA ECM, plus six others. (Financial News)

Evercore's hired 10 analysts for its new institutional equities business. (Financial News)

How to make your child a millionaire. (Telegraph)

My existence lies precisely within the range where one is too intelligent to function in society but lacks the ability to accomplish anything above average. (Big Picture)