Lunchtime Links: A Chinese bank wants to hire 60 investment bankers and says it is willing to pay

The problem with Chinese banks is usually that they don't pay very well. They have jobs, but they pay on a par with somewhere like Standard Chartered, or worse. Bocom International Holdings, the overseas arm of The Bank of Communications Co, wants to remedy this.

Bloomberg reports that Bocom wants to hire 60 people, including "managing directors and leading industry analysts", and that it intends to "narrow the gap" between pay at Chinese banks and international investment banks to attract them.

A lot of the new hires are likely to be in Hong Kong, where it's just rented 11,000 square feet of office space. However, Bocom also aspires to expand in London and New York, which are "among the first choices" for headcount accretion a little further afield.

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Barclays cut 500 jobs in its corporate banking business yesterday. (Telegraph)

Josef Ackermann says he can imagine Deutsche Bank overtaking Goldman Sachs, does not elaborate further (*stares into the distance and sighs*) (Reuters)

Quotas for female executives and board members would be against Deutsche's principles, says Ackermann. (Financial News)

BNP Paribas has hired a new regional investment banking head in Germany says it's following an ambitious growth plan there. (Financial News)

HSBC has been accused of nepotism after its legal department implied it offered work experience only to the sons and daughters of its own executives. (Financial Times)

Suddenly, the Basel Rules might offer banks a capital advantage to being based in the EU. (Financial Times)

Oswald Grubel says UBS has no plan to split off its investment bank and has not spoken to regulators about moving out of Switzerland. (Bloomberg)

Maybe it's not so advisable to live in Singapore after all. (Bloomberg)

You've got to admire Laurent Dupeyron, leaving his fund of hedge funds, Olympia Group, of hedge funds, for other opportunities. (MoneyIstheWay)

Unmarried "well known sportswoman" and 41 year old single mother receives 2.64m from New York hedge fund owner who is the father of her child, plus 120k a year in maintenance, including 2.5k for toiletries. (TheTimes)