Lunchtime Links: When unscrupulous hedge funds make employee escape impossible
We have heard some bad reports about hedge funds. According to one London hedge fund recruiter, some will resort to underhand methods in order to retain staff. One such technique allegedly involves including a clause into the contract stating that employees must seek prior permission before sending out their CV and details of their performance.
Given that most hedge funds require an audited track record before hiring anyone, this can make the mechanics of finding a new job difficult to manage.
However, Dealbreaker has unearthed information on one US hedge fund which allegedly takes employee retention to the extreme.
The full information is contained here. In brief, a US hedge fund trader is alleging that his former boss toured a conference room slapping the palm of his hand on a baseball bat and stating: `I'll kill you if you leave. The only way you can leave this firm is in a body bag."
The fund in question was the best performing large hedge fund manager of 2010.
Baudouin Prot says BNP is hiring investment bankers in Asia and Brazil and that the 2010 bonus pool will be 'definitely lower.' (your link text here)
Jamie Dimon is getting his first cash bonus for three years. (Financial Times)
Jamie Dimon has now received the same stock allocation as Lloyd Blankfein. (Wall Street Journal)
The British government has hired Michael Cohrs to help it spot financial crises coming. (Telegraph)
Naguib Kheraj, the former chief executive of JP Morgan Cazenove who joined Lazard last month, has quit just 32 working days into the job. (Wall Street Journal)
Naguib Kheraj didn't have time to do his fulltime job as well as his charity work. (The Times)
The City regulator revealed that it had asked the nine biggest banks in the City to provide more information about how they pay their top staff. (The Times)
To imply deregulation was a conspiracy perpetrated by elite of economists in the pay of banks is paranoid and absurd. (The Guardian)
Women have superior communication skills to men, and they talk less. (Reuters)
Beware compulsive daydreaming. (Scientific American)
