Late Lunchtime Links: The 7m risk officer

Not only are risk officers immune to redundancy. They are also becoming incredibly well paid.

Bloomberg reports that Morgan Stanley paid its chief risk officer $12.1m (7m) for 2010 - more than any other executive at the bank. By comparison, Brian Moynihan received $1.94m last year.

Ten years ago, Bloomberg says chief risk officers would have been lucky to receive $500k.

"Put simply, in order to get your $1 million bonus before, you had to generate X amount of revenue; now it's X plus 50 percent." (CNBC)

Structurally lower returns will mean structurally lower compensation. Bankers will work just as hard in an environment that is as fiercely competitive as ever but with much more restrictive supervision. (Financial News)

Anshu Jain will almost certain become co-head of Deutsche Bank. (Financial Times)

Proof that Josef Ackermann can't count. (Sunday Times)

UBS has hired a senior public sector advisory banker to be based in London. (Wall Street Journal)

"Headhunters generally charge a third of the first year's salary of the person they're recruiting, so a candidate hired on 500k-a-year may produce a 150k fee. "(Financial Times)

Daewoo Securities plans to more than triple its workforce at its Asian units from 35 to 120 by 2013. (Bloomberg)

The European Union is getting ready to raise €30bn a year in a Tobin tax by 2014. (Financial News)

First official photographs of the new Bugatti Veyron. (Car Magazine)