UK
Lunchtime links: More bankers decide go it alone
10 August 2009
It's a brave move to say the least in the current climate, but it seems an increasing number of people who were made redundant by large financial services firms have been taking the opportunity to set up a new business under their own steam, rather than getting back in the job market.
The Financial Times this morning reports on a 10% upswing in new companies seeking FSA approval in the second quarter, some of which have emerged from bulge bracket firms to set up corporate finance boutiques, private equity shops or fund managers.
"The fallout from the larger institutions has really benefited London because the people who are setting up on their own tend to be based in London," says Bruce McIntyre, a partner at IMAS Corporate Advisors, which conducted the research.
Headhunters really, really want the mandate for UKFI jobs (Wall Street Journal)
The regulator is driving up base pay (Citywire)
"The obligation to disclose names and incomes would almost certainly drive talented professionals away from the UK." (Financial News)
How will guaranteed bonuses sit with Obama's new pay guru? (Dealbook)
The churn at UK hedge funds (Financial News)
Best hedge fund performance since 1999 (HedgeWeek)
Most firms admitting they may have over-cut (Clusterstock)
Investment banks could be about to get big in Japan (Bloomberg)
More fee-charging for not much in the way of advice!
The cycle begins again....
John 10 Aug 2009
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