Late Lunchtime Links: Beds installed in the Citigroup building
When bed are installed in the building you work in, the prognostication for work life balance is not good.
This is what has happened in Citigroup's London building. According to the Evening Standard, its Canary Wharf premises now contain pods in which people are able to snooze for a few hours at a time.
People wishing to use the beds must pay 9.99 an hour for the privilege. Only 1 person is
permitted per pod at any one time; mobile phones are banned. Citigroup is not the only business in its eponymous building: Munich Re, MWB, GFT Global Markets, Sungard and Think London also have a present and their employees will be free to use the beds too, should they feel so inclined.
Advice to junior bankers: put half of what you'd put in your bathroom in your desk. Toothbrush, extra change of clothes, shoes. (Dealbook)
Bank of America wants to expand in prime brokerage. (Dealbook)
There are ongoing problems at UBS's prime brokerage business due to lowered bonuses and the lack of an entrepreneurial approach to winning new business. (HFM Week)
UBS says Asian profit margins may shrink for two years because it's having to pay more. (Bloomberg)
Stephen Hester's 2010 bonus vests in two equal tranches, in March 2012 and March 2013, and Mr. Hester has agreed not to cash out any of the shares until at least 12 months after the vesting periods. (WSJ)
"Out of every 1 going to RBS top earners, 83p comes out of taxpayers' pockets." (Guardian)
The 11% fall in profits at Tullett Prebon demonstrates that whatever we may think, traders are worth every penny to their employers. (Telegraph)
Bonuses at Northern Rock shall total 13.1m. (Financial Times)
The EU parliament has voted for a Tobin tax, but the UK can veto it. (Telegraph)
Anshu Jain probably does not speak German. (Reuters)
The biggest investment banks by numbers. (Bloomberg)
The total headcount of foreign banks in India fell 6% last year. (NdTV)
Crane operator last remaining fulfilling occupation in U.S. (TheOnion)
