Lunchtime Links: Banker who retired to become a writer on a Caribbean island, is coming back to London

In further proof that there is a degree of pleasure to be derived from working hard in a large City with a tired infrastructure, The Times reports that David Norwood, former chief executive of Evolution Beeson Gregory has decided to give up on his aspiration to be a writer on a desert island, and is moving back to London.

Norwood moved to Lubbers Quarters in the Bahamas in November 2008. It's not clear whether he wrote anything whilst he was there, but there are no recent novels by someone called David Norwood available on Amazon.

Norwood's primary inspiration for returning seems to have been his new daughter, whom he felt wouldn't be massively inspired by a father who spent his days building sandcastles and fishing. Upon his return, he won't go back to the City, but will become chairman of 'Retroscreen Virology,' a company in which he also has a 'significant stake.'

Separately, the incorrigible banking blogger. Epicurean Dealmaker has submitted to a frank interview in which he confesses, among other things, that he likes his job:

Money is not the only reason I have stayed in investment banking for over 20 years. The job is challenging, intellectually stimulating, and often a sheer blast. It's fun to work balls to the wall, day and night, for weeks on a big deal and see it hit the tape on Monday morning. It's fun to yell and scream at some numbnuts across the table at a negotiating session. It's fun to think up a multi-billion dollar transaction, initiate it, and see it to conclusion. And, notwithstanding what I said before, it's fun to fly home first class from Asia, swilling vodka tonics and watching Japanese films on DVD for 20 hours. My job can be a goddamn hoot.

RBS won't be hiring as many equities bankers as anticipated. (Financial News)

Marex Group, the London-based commodities broker that was bought by former Lehman Brothers executive Jeremy Isaacs, is planning to hire an additional 55 staff before the end of the year. (Financial News)

Deferred pay awards were discounted by an average of more than 20% last year - meaning a 500k bonus payable only after 5 years would be worth next to nothing in the minds of most bankers. (Financial Times)

Senior risk officers need a completely different pay structure, but banks haven't made much effort to work out what this is. (Financial Times)

Colin Teichholtz, co-head of liquid rates trading at Morgan Stanley is joining a hedge fund. (Bloomberg)

JPMorgan is moving its prop trading unit out of its investment bank and into its asset management unit. (Financial News)

Bank of America made money 80% of fourth-quarter trading days. (BusinessWeek)

The CFO and vice chairman of RBC Capital Markets in Europe have resigned and retired. (Financial News)

The head of Goldman's special situations group is retiring. (Dealbook)

Bob Crow would like to impose a tax of 1p per email. (Telegraph)

When an investment bank is hired to sell a company, who pays for the closing dinner? (Quora)