Lunchtime Links: An enormous influx of new people is coming soon to Canary Wharf

25 March 2011

2 minute read

Lunchtime Links: An enormous influx of new people is coming soon to Canary Wharf

If you work in Canary Wharf and are peeved about queuing in Starbucks, standing on the Jubilee Line, or inhabiting a microcosm almost entirely populated by other people wearing suits, then sorry: another 10,000 co-workers are going to be joining you.

The Financial Times says these new people will be coming next year, when JPMorgan and Royal Dutch Shell come to Canary Wharf. Songbird is very adamant that overcrowding on the Jubilee Line will have been solved by then and promises there will be 50% more trains going to the Wharf every single hour. Honestly.

Only four investment banks will still have their main UK offices in the City of London: Goldman Sachs, RBS, UBS and Deutsche Bank. (Bloomberg)

George Osborne wants to scrap the 50p tax rate in 2013. (Financial Times)

The Treasury plans to raise 3.8bn from the closure of offshore investment trusts such as that used by JPMorgan. (Telegraph)

Following the budget, Lucinda the banker on 270k is 2.8k worse off, Caspar the banker on 170k is 1.8k worse off. (Financial News)

The UK government wants to sell its bank stakes in order to achieve a windfall gain shortly before the next election. (Bloomberg)

Lloyd Blankfein has openly admitted that Goldman ranks its clients in order of importance. (CNBC)

Goldman Sachs is now 10th in US M&A, its worst ranking for 2 decades. (CityAm)

Lloyd C. Blankfein, once a BlackBerry addict, now says voice mail is his chosen method of communication. (DealBook)

Meet Nomura's 13 new managing directors. (Bloomberg)

Standard Chartered paid its investment banking head over $14m for 2010, and a banker below board level was paid almost $12m. (Reuters)

What with unrest in the Middle East, banks are no longer training people. (Evening Standard)

Yes, Credit Suisse clawbacks are abnormally generous. (Financial Times)

Morgan Stanley MD releases a gospel album. (Dealbreaker)

Jamie Dimon is almost a Japanese pop idol. (WSJ)

The three great temptations of the management consultant. (Financial Times)

Religious people are more likely to be obese. (Daily Mail)

AUTHOReFinancialCareers UK

Insider Comment

Wh
WharfSucks
28 March 2011
Canary Wharf is the most depressing place on earth, sterile, soul-less, a lego land of bankers and clones that rush around in a constant state of anxiety. Nowhere decent to sit and eat lunch, the wind knocks you over in the winter, walk out of the island and your in vast council estates in the middle of nowhere. And of course you also have the Jubilee line...
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Co
Cowman
28 March 2011
Wrong - the BAML site in St Pauls (old ML building) is where the front offices, bonuses and decision makers are. Boring stuff happens in CW.
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bo
boredlawyer
27 March 2011
Canary Wharf is a dreadful place to work. Totally overcrowded transport connections, overpriced underground same-as-everywhere food outlets, privatised pavements, ugly buildings, drone of construction. The list goes on. It demonstrates what a horrific environment is created when profit and greed are the sole motivating factors in 'town' planning.
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Ar
Art Passover
25 March 2011
...and yet Canary Wharf remains a bleak and depressing place. The yanks at the bank I worked at there used to talk about "going to London" when they headed into town. GB75k more required if I was ever going to work there. Enough for a driver and a family pack of barbiturates.
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Bo
Bond J
25 March 2011
It says "Only 4 Investment Banks" have their offices in the city, not low income, strategically misaligned and beaurocratic Tier 3s
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