Late Lunchtime Links: You can become rich as a hedge fund manager; you can become far richer as an entrepreneur
The Sunday Times has produced a preview of its rich list. There is excitement about the fact that Nat Rothschild, the 'mining and energy mogul' with the good fortune to be a scion of the Rothschild dynasty has increased his wealth by 670m this year. The full list is below.
Most interesting, however, is arguably the fact that even the richest of the UK's rich hedge fund managers are very far from being the richest people in the land. Nat and his billionaire counterpart, the septuagenarian UK fund manager Robert Miller, rank only 67th on the Sunday Times' list overall. The conclusion must be that hedge funding is lucrative, but there are far more rewarding alternatives out there.
Source: The Sunday Times
BAML's traders had an impeccable first quarter. (Bloomberg)
JPMorgan has made 132 new MDs. (Dealbreaker)
Did Goldman Sachs arrange A full professorship at Tsinghua University for John Thornton? (Sinocism)
Senior US energy bankers keep leaving Goldman Sachs. (Bloomberg)
Unless Lloyd Blankfein clearly says he's going nowhere, there will be a lot of internal jockeying for position. (Financial Times)
Alejandro Vollbrechthausen will become president of Goldman Sachs Brazil Bank. (Wall Street Journal)
If you want to be in Brazil, you shoulId be working for Itau, Banco BTG Pactual SA and Banco Bradesco BBI SA. (Bloomberg)
Commerzbank results: Profit increased 40% YoY. (AFP)
SocGen fixed income bankers are reforming UniCredit. (Financial News)
SocGen's net profits were UP 9% year on year in the first quarter. (Financial News)
Cohen keeps the SAC trading floor below 70 degrees, so workers aren't tempted to doze off (they wear fleeces to keep warm). (WSJ)
The average City PR person generated 280k of fees last year. (Evening Standard)
Last month, there were 4,200 work visas available for non-EU workers in the UK, but only 1,028 were granted. (Financial Times)
Full-time macroeconomists are like active mutual fund managers: articulate, hard working, and basically worthless. (Falkenblog)
Strategies of Human Mating. (HostedonGoogle)
Eton, Oxford, Bullingdon, carrot-red hair, freckles, dear oh dear. (MoneyistheWay)
