eFinancialCareers

As a probable government-owned entity, it seems highly unlikely that RBS will maintain its appetite for financial markets activities. This is, unfortunately, not positive news for anyone who works there. The Times is predicting a ‘significant downsizing of capital-intensive businesses’ (AKA prop trading). The FT says Stephen Hester’s first move will be to shrink the investment bank and prune Asian operations. And Financial News says RBS will be exiting some areas of structured credit. The good news? Although board members won’t be getting a bonus, Hester has apparently said performance-related pay would continue to apply to those lower down the hierarchy, “where relevant”.

EU to the rescue. (Bloomberg)

State aid for Goldman and Citigroup: “This could be the time that breaks the back of the credit crisis.” (Bloomberg)

Will Barclays regret not going to the government? (BreakingViews)

Barclays will not give in to the communists. (Money is the Way)

Morgan Stanley stock soared 85% yesterday. (Bloomberg)

There's still a good chance that Morgan Stanley will be, effectively, nationalised. (Seeking Alpha)

Latin American debt safer than the US. (Financial News)

Over 80% of Lehman MDs stick with Nomura. (Financial News)

The 10 best paid jobs in the UK. (The Times)

Icelandic women to clean up “male mess”. (FT)

Could this round of financial turmoil be hurting men more than women on Wall Street? (Clusterstock)