Lunchtime Links: HSBC expanding in infrastructure and commodity finance; Natixis building a 'global hub' in London
While student protestors take again to the streets of West London and snow is forecast (soon), we have good news for the City: HSBC and Natixis are making noises about hiring.
Natixis has hired already. It's acquired five new people, of whom only two are in London, but is making pleasing noises about making the City into its 'global hub.'
"London serves as the major axis for international investment decisions and leading financial research. It simply is the location of choice to leverage partnerships with key global decision makers," Hervé Guinamant, president and chief executive officer of Natixis Global Associates International, said, soothingly.
(Notably, if you want to work at Natixis, you will not have to go through endless rounds of interviews. HR director Alain Delouis recently told our French site that he doesn't believe in having 15 rounds of interviews: 3 or 4 are fine.)
Separately, the Financial Times has been speaking to 'bankers' at HSBC, who say the bank will be pursuing further expansion in infrastructure and commodity finance next year.
Goldman completes the most exhaustive review in its 140 year history, concludes it needs to put the client first. (NY Post)
Wall Street banks are likely to have their 2nd highest ever results in investment banking and trading in 2010. (Bloomberg)
70% of Americans think bonuses should be banned this year at firms that took bailouts. (Businessweek)
Ireland wants a 90% bonus tax. (Dealbreaker)
Paul Myners: Lloyds and RBS should be split up. (Financial Times)
Sants says he will allow even the biggest banks to fail. (Evening Standard)
The FSA can't publish the RBS report without permission from the banks and individuals involved in the investigation. (Bloomberg)
Centralised clearing houses are allowing big banks to control the derivatives market. (NY Times)
The New York Times takes on the derivatives cartel. (Reuters)
There are probably only 20% fewer people working in credit derivatives now than in 2008. (Financial Times)
UBS because it paid its staff about $34bn over the past 5 years, despite making losses of more than $44bn. (Financial News)
UBS has hired 5 private bankers in Singapore. (Finance Asia)
Ex-Lehman FIG bankers, Michael Carter and Robin Mackie, have given up building a boutique and are joining RBC. (Financial News)
Bonuses at BAML said to be down significantly, mostly in trading. (Dealbreaker)
Pre-Christmas UK M&A rush. (Telegraph)
40% of the Dubai International Financial Centre is vacant, so it's slashing rents. (Bloomberg)
Wealthy people from the Middle East are forcing bankers out of Central London to live in a 'banker belt' from Fulham to Clapham, Wandsworth, Richmond and Wimbledon, plus Islington and Hampstead. (Guardian)
Gatecrashing the Blackstone Christmas party. (NYMag)
From January 1, Worldspreads, the spread-betting firm, is offering punters the chance to gamble on how many days the euro will last. (NYMag)