Mid-Afternoon Links: Goldman's UK investment banking chief off to join Tony Hayward; immense packages at Glencore
Let it not be said of Julian Metherell that he cares especially about working for an organisation for which the general public feels great affection.
The Wall Street Journal reports that Julian, formerly head of investment banking at Goldman Sachs (not a popular public name) is off to join ex-BP chief Tony Haywood (also not a popular public name) at his new investment firm.
It is not clear why Julian is going from Goldman. However, he was a partner at the firm and may already be feeling the impetus to depart: the average duration of a Goldman partnership is allegedly 8 years and he's been one since 2006.
Separately, the Times highlights the extent to which all the knicker-twisting about investment banks may be misplaced. While everyone's outraged at the fact that Lloyd Blankfein collected $19m last year at Goldman, it transpires that the average senior trader at Glencore (of whom there are around 66) was earned $16m for 2010.
Wall Street trading revenues will fall for a fourth consecutive quarter. (Bloomberg)
Catholic nuns are coming back to berate Goldman executives about their pay packets. (Telegraph)
Rothschild's only got 125 bankers in the US, but is ahead of Goldman Sachs on the US M&A tables. (Financial News)
A Deutsche Bank prop desk trader has left the firm after 17 years, taking a team of six traders with him to set up a hedge fund. (Citywire)
BNP Paribas, Bank of America Merrill Lynch, Barclays Capital and Jefferies, are all growing in prime brokerage. (Financial News)
Societe Generale and CA Cheuvreux have both been hiring equity researchers. (Financial News)
French officials are trying to persuade HSBC to leave the UK and go to France. (Telegraph)
The UK's interim banking report will say ringfencing retail banks WOULDN'T be disastrous: it might happen. (Financial Times)
RBS is the only bank to have put a public figure on the benefits of the universal banking structure - between 3.5bn and 4.8bn annually. (Guardian)
Barclays are leading negotiations with the British government to ring fence retail banking. (Telegraph)
"It's inconceivable that a bank could allow one part of its business to fail as that would immediately bring into question the rest. I really don't think this kind of thing will make much difference." (Telegraph)
Deutsche Bank's 'Dark Blue' scheme to escape tax on a 92m bonus pool. (Telegraph)
Typical pay packages in private sector service jobs. (Telegraph)
What are the best graduate schools for studying machine learning? (Quora)
Narcissists would rather be admired than liked. (Huffington Post)
Most people don't want to work past the age of zero (Daily Mash)
