Lunchtime Links: Citigroup wants loads of senior coverage bankers; ICBC wants lots of everyone
We have news of hiring.
If you're a senior M&A banker, you might want to waft your CV in the direction of Citigroup. Manuel Farco and James Bardrick, Citi's heads of banking in EMEA granted an interview to Bloomberg, in which they stated they want to hire:
...as many as 20 senior corporate and investment bankers in Europe in the first-half of 2011.
And that they'll be focusing on:
"... countries and regions where activity is likely to grow quickly, including Russia, Turkey and the Middle East."
Citigroup could find itself up against Bank of America, which avowed its intention of hiring 30 senior M&A bankers in EMEA this year.
Also engaging in a little recruitment, will be Hong Kong-based ICBC, which intends to increase its international workforce 'significantly' over the next two years, particularly in the advisory arena. Bloomberg, however, points out that ICBC is not known as the best payer in the world.
UBS plans to double its Chinese workforce to 1,200 in five years (Bloomberg).
Vince Cable calls for big banks to be split up, calls bonuses offensive. (Telegraph).
The unions will today turn up the pressure on the banks with a demand that bonuses should be treated as profit and therefore be liable for corporation tax. (Guardian).
Banks' hidden subsidies worth 32bn a year. (Independent).
The average council chief executive earns 147k. (DailyMail).
People at RBS may be able to access one third of their bonuses in cash, in June. (Financial News).
About 40% of Barclays Capital's revenues - a higher proportion than last year - are expected to go to compensation. (SundayTimes).
BarCap's Protium debt vehicle appears to be designed to pay some people extremely well. (Telegraph).
Deutsche's tax avoidance scheme RIP (DailyMail).
FIG bankers are leaving Nomura (Financial News).
America's top banks including Citigroup, JP Morgan and Bank of America are set to outsource IT and back office projects worth nearly $5bn this year to India. (Economic Times).
Credit Suisse issues $6bn in contingent bonds. (DealBook).
ETF Stripping is the new way of disguising inside trades. (Fintag)
'Part of my lifestyle is that I want to cycle to work. Can you guarantee me a cycle parking space, quality shower and locker?' If the answer is no, I am going to work for somebody else who can." (Evening Standard)
The nightmare that is flying to China. (Reuters)
As a junior weenie banker, I always expected that my workload would decline as I rose in the organization... The bigger you get in my business, the more the client thinks he owns you. (TheEpicureanDealmaker)
What is it like to always be the smartest person in the room? (Quora)
Small businesses across Britain could increase their profits by selling loads of stuff to rich bankers, it has emerged. (DailyMash)
