The top investment banks are split on adopting new rules on bonus payments, with only some such as Citigroup, JPMorgan and Goldman Sachs following them as outlined.
[WSJ]
Bank of America plans to reduce headcount further in 2011.
UBS has added staff to rebuild its fixed income, currencies and commodities businesses. [Financial News]
An ongoing federal investigation reveals that hedge fund consultants willing to pass on confidential corporate information are sometimes earning double their salaries by moonlighting with an expert network firm. [Reuters]
Morgan Stanley's James Gorman received $7.4 million in stock and options in his first year as chief executive of the investment bank. [FT]
