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Monday's Headlines: You May Get Your Bonus Early This year

Christmas may come early this year. Some banks may seek to get a jump on an increase in 2011 taxes by paying out year-end bonuses early. Bankers at Credit Suisse are already among those who've received early bonuses, a move taken by the bank to offset higher taxes in the UK [WSJ]

UBS is forming an M&A team in China, and is set to launch other advisory services to companies there. Philip Partnow, who will lead the team, says China M&A will be a critical part of the bank's strategy with key clients. Deal flow in the country rose from 3 percent of total global volume in 2007 to nearly 8 percent this year. [Bloomberg]

JPMorgan Asset Management is strengthening its presence in the UK, ending speculation it was concerned about its European headquarters. The asset manager will soon name Mike O'Brien, former head of BlackRock's European arm, to run its global institutions franchise from London. [Eubankers]

Japan's largest banks are expanding in the U.S. Banks. Firms such as Sumitomo Mitsui Banking and Bank of Tokyo-Mitsubishi UFJ are taking advantage of the credit crunch's damage on U.S. banks by hunting for acquisition targets. Sumitomo has doubled its U.S. revenues over the past two years as lending by U.S. banks plunged. [FT]

The SEC says more high profile cases will come to Wall Street. The agency vowed to step up enforcement actions in the wake of its $550 million settlement with Goldman Sachs. [FT

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AUTHORScott Krady Insider Comment

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