UK
Lunchtime Links: Should UK banking chiefs fall on their swords?
24 July 2008
“We’ve seen the top 11 executives leave UBS, the heads of Citigroup and Wachovia step down and the chief executive of Merrill Lynch go. But only one UK director has had to leave a UK bank and that was because he had angina.” (FT)
Credit Suisse has managed to haul itself back into the black after a 27% cut in risky asset exposure, but profits are still down by 62% on last year. (AFP)
Barclays chief takes on head job at Northern Rock for a tasty £1.2m (Independent) on the same day the bank’s downfall is released as a book. (Bloomberg)
Former Cazenove partner faces prosecution for insider trading. (FT Alphaville)
Job vacancies in the City continue to plummet. (Bloomberg)
Interest rate action splits Bank three ways. (Guardian)
BarCap on MD hiring spree. (Financial News)
Goldman jumps back into the leveraged buyout market. (naked capitalism)
US banking chief steps up to defend City’s global lead. (Evening Standard)
Paulson plays to profit from slumping banking stocks. (Independent)
