Remember Blythe Masters? She who graduated in economics from Cambridge and became J.P. Morgan's youngest ever female MD aged 28, who invented 'credit default swaps', who spent three years as J.P. Morgan's CFO and seven years as head of its commodities business? Who is right now holed up in a Blockchain company in New York City? That Blythe Masters. Jes Staley reportedly wants to make her head of Barclays' investment bank.
Reuters reports that Staley has approached former his JPM colleague Masters to run the organisation formerly known as Barclays Capital. Masters' response remains unclear. Staley himself is more of a 'client guy' than a markets person, and if Masters agrees Barclays' traders will have a powerful new cheerleader. Traders everywhere may want to work for the British bank as a result. However, they may not wish to do so immediately - Master's putative start date is the end of 2016 and a lot can change in 12 months.
Separately, just because working for a start-up might still afford you the opportunity to retire young and buy a Maserati aged 27, that doesn't make this a certainty. The Wall Street Journal reports that Stanford University is trying to puncture the start-up bubble. Students at the university venerate successful founders as 'campus celebrities' and are so busy working on their start-ups that they don't get college work done. Most of their start-ups fail. "We don’t need another app to order food,” says the head of the university's Center for Entrepreneurial Studies.
Barclays is having to pay an extra £100k ($150k) to hire Jes Staley because the value of his J.P. Morgan stock has risen. (Guardian)
Morgan Stanley's promotion of its head of equities to run fixed income now looks like an omen. (WSJ)
£40bn more fines for banks in the UK. (Evening Standard)
British Labour party warns banks to restrain bonuses. (Reuters)
Ex-private equity professional sets up spreadsheet modelling company. (Finbuzz)
Deutsche Bank has revamped its DCM group. (Reuters)
US banks are cementing their global dominance. (WSJ)
Goldman Sachs just patented its own cryptographic currency. (Cryptocoins)
Four signs you have a dead end job. (Bloomberg)
How to handle your performance review: name your emotions. (Quartz)
Man leaves J.P. Morgan to work in private equity, comes back again four years later. (Financial Times)
Photo credit: Barclays Bike Hire Station by Nick Page is licensed under CC BY 2.0.