Monday's Headlines: Investment Banks Vary In Adoption Of New Pay Rules

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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.

[Charlotte Observer]

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]

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