Lunchtime Links: Redundancies as a bank pulls back from European equities

Cash equities are supposed to be an area of comparatively enthusiastic hiring this year. However, this doesn't extend to some of the smaller company brokers which built up their business in the wake of the financial crisis and have suffered as margins have fallen and banks have pushed into equity sales and trading.

Hence, The Times today reports that Evolution Securities is making 30 people redundant as it pulls out of European equities. 25% of market makers, analysts, traders and sales staff have gone.

Separately (but also gloomily), banking analysts at Citigroup issued a research note this morning observing that the first quarter is turning out weaker than expected and predicting that revenues at US investment banks will be down 15% year on year. They also reduced predicted Q1 EPS at Goldman by 30%.

Now the Glencore IPO might not happen after all. (Alphaville)

It's all fine at Panmure Gordon. (Evening Standard)

Schroders has hired four senior people, including one ex-Citigroup banker. (Financial News)

Citigroup's hired a FIG banker for a Nordic push. (Financial News)

China wants 12% capital ratios for its biggest banks. (Bloomberg)

Adair Turner says UK banks should have 15-20% capital ratios. (WSJ)

The chief exec of SocGen got his first ever bonus last year (€600k) and earned €1.75m. (Financial Times)

Benoit Savoret is likely to take a clinical view of Nomura's market positioning. (Financial Times)

10 imperatives for gender parity. (Financial News)

Creeping sense of oblivion up 32%. (Daily Mash)