Lunchtime Links: Dollar millionaires mostly to be found in hedge funds

Forget ogling the pay at Goldman Sachs and the redundancy payments at Deutsche Bank. Hedge funds are still where the highest compensation is to be had.

Reuters has seen a compensation survey from Greenwich Associates and Johnson Associates which suggests the average 'senior equity professional' in a US hedge fund (including portfolio managers, traders and analysts), made $875k last year. The average fixed income professional made $1.1m. Banking pay doesn't even come close.

Beware the WSJ's pay statistics. (WSJ )

Almost a quarter of the 400 wealthiest people on Forbes annual richest list make their money from money, whereas only 8% could make that claim in its first issue in 1982. (Pimco )

Lazard: "It is our goal to grow annual compensation expense at a slower rate than revenues." (WSJ )

Our expectations on how the previous crisis would translate into pay on Wall Street aren't coming to fruition. (WSJ )

Evercore's profits up 100%. (Dealbook )

The replacement to the FSA will not be in place until 2013. (Guardian)

The art of client deception on well lit trading floors. (BostonReview )

An analogy between Keydata and brothels. (Fintag )

London is set to overtake New York as the biggest center of crude and oil product futures trade this year. (Reuters)

Curtis Adams. head of Mizuho's London proprietary trading team has left the Japanese bank to launch a hedge fund, taking a team of top traders with him. (Financial Times )

"The main problem in Egypt is the distribution of the wealth. Most of the wealth is concentrated within the upper class of businessmen." (Bloomberg )

Presentiment of foreclosure crisis in the UK as Lloyds sets up its very own home management vehicle. (The Times)