Lunchtime Links: More evidence of the dangers of testosterone on the trading floor
Those of you with elephantine memory capacity may remember a 2009 study into the dangers of too much testosterone on the trading floor, which suggested that a surge in the hormone could promote risky behaviour in financial markets.
Dr John Coates, senior research fellow in neuroscience and finance at Judge Business School, wrote that both testosterone and cortisol, a stress hormone, were highest in experienced traders: "They appear cool and unemotional, but beneath the poker face is an endocrine system on fire".
Evidence of this fiery nature on the trading floor emerged during an alleged altercation between two seasoned traders, George Kanaan and Mark Fitzgerald, on UBS's Australian trading floor.
What started out as a tiny article in The Australian has been picked by other news sources and the story has escalated. Allegedly the drama began with a "gentle shove", but soon accelerated into a full-on fist fight.
It's not clear whether the pair have been fired over the incident, with a UBS spokesperson telling Bloomberg that "action has been taken" and "the matter has been dealt with internally"
Over 100 staff at RBS have received 1m (Telegraph)
...but plenty got donuts (Financial News)
Hester "regretted losses" of the bank's most valued staff (City AM)
Credit Suisse has a new UK private banking CEO (Financial News)
People are leaving Deutsche Bank because of disappointing bonuses - allegedly (Clusterstock)
Another trading glitch at the LSE ( Telegraph)
"The greatest trick the devil ever pulled was to convince the world he didn't exist. The greatest trick bankers ever pulled was convincing their new owners not to change a system of remuneration that subsequently offered vast, risk-free payouts for bankers and financial calamity for shareholders and taxpayers." (This is London)
Lloyds repaid the government 61bn in 2010 (Sky)
JP Morgan has hired 100 corporate bankers in China ( Shanghai Daily)
SocGen is looking at increasing headcount by 33% in its Sinagporean trust unit (Bloomberg)
25 guys who will "destroy your career on Wall Street" (Dealbreaker)
