Lunchtime Links: "The biggest headhunting exercise the markets have ever known"

There are a few exciting news stories today, including the unfortunate news that, as well as restricting bonuses, the EU has also decided to base all the three new European financial regulatory bodies in Frankfurt so as to 'ease interaction' between them. It had been hoped that at least one might be in London, and the fact that none of them will be surely doesn't bode well for future European financial services regulation (and by implication, jobs in the City).

Putting this aside, however, the really exciting stuff continues to come out of the Hogarth Davies Lloyd/Nomura High Court showdown.

The Financial Times reports that James Hogarth stood up in court yesterday and declared that Hogarth Davies Lloyd's role in moving 242 people from Lehman to Nomura amounted to, "the biggest headhunting exercise the markets have ever known".

It also emerged that Hogarth Davies Lloyd was vaguely expecting Nomura to try and negotiate down the fee, but that this didn't appear to happen. In 2008 HDL 'raised the figure' of 10m in the presence of Nomura for its efforts in mapping the market and preventing desirable Lehman people from rushing off to rivals like BarCap. As we pointed out yesterday, Nomura only wants to pay 2m, however.

Unicredit wants M&A people in the US, Turkey, Russia, Austria, Germany and Poland. (Bloomberg)

Citigroup has hired four people in equity derivatives. (Financial News)

"Europe has dared and now the US and the rest of the world will dare too. If bankers want to live in our society they have to play by our rules. If they're so greedy [they decide to leave], we're better off without them." (CityAm)

"This is suicide for the City," said one top banker. "Pay is the driving force here and now we're facing this. Everyone will just move." (Telegraph)

The FSA says it's NOT seeking an exemption from the new EU bonus rules. (Citywire)

"I say good riddance, go play poker with the Swiss franc, but not anymore with the livelihoods of 500 million European citizens." (Bloomberg)

Someone else has left UKFI. (Bloomberg)

Why Goldman should stop being a bank holding company. (NY Times)

The stress tests are completely meaningless. (Bloomberg)

Good times for insolvency specialists. (Guardian)

JPMorgan supervisor accused of harassing male employees. (NYPost)