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Goldman Sachs juniors risk termination after unauthorized magazine photos
business1 month ago

Goldman Sachs juniors risk termination after unauthorized magazine photos

Two junior Goldman Sachs bankers, Mason Clarke and Clay Nelson, are reportedly facing disciplinary action after appearing in an unauthorized Interview Magazine spread about their lives and work habits. Goldman Sachs says the interviews were not approved by media relations, and insiders say sanctions could range from a warning to termination, with management blindsided by the move and unclear if any HR action will be taken.

via New York Post|
#bankers#business#goldman-sachs
"Bankers Face Hefty Breakup Fees After Leaving New Jobs"
finance2 years ago

"Bankers Face Hefty Breakup Fees After Leaving New Jobs"

Bankers in the finance industry are being hit with "breakup fees" when they accept job offers and then decide to stay with their current employers. This practice, commonly seen in corporate takeovers, has now made its way to Wall Street, with a recent example being a nearly $10 million offer from Jefferies Financial Group Inc. to hire a rainmaker from Credit Suisse Group AG.

via Bloomberg|
#bankers#breakup-fees#corporate-takeovers
economy2 years ago

IMF Boosts China's Growth Forecast, Urges Investors to Ride the Dragon

The International Monetary Fund (IMF) has raised its growth outlook for China, urging bankers to "ride the dragon" as the country's economy continues to recover from the impact of the COVID-19 pandemic. The IMF now expects China's economy to grow by 8.4% in 2021, up from its previous forecast of 8.1%. The organization also emphasized the importance of continued policy support and structural reforms to sustain the recovery.

via Financial Times|
#bankers#china#economic-recovery
"Britain's Banks Brace for Paltry 'Brexit Dividend' as Bonus Freedom Fades"
finance2 years ago

"Britain's Banks Brace for Paltry 'Brexit Dividend' as Bonus Freedom Fades"

Banks in Britain may be allowed to award larger bonuses starting from January, as the country seeks to ease post-Brexit rules. However, top bankers are hesitant to exchange fixed salaries for uncertain rewards, potentially limiting the impact of the bonus increase. The removal of the bonus cap is aimed at attracting more high-level bankers to Britain and boosting London's status as an international financial hub. Nevertheless, experts suggest that the shift back to high bonuses and low base salaries is unlikely, given the current economic climate and public sentiment. The EU's response to the scrapping of restrictions remains unclear, and it is uncertain whether EU banks in Britain would still be bound by the cap.

via Reuters UK|
#bankers#bonuses#brexit
Swiss Bankers Convicted for Assisting Putin's Friend in Money Laundering
crime3 years ago

Swiss Bankers Convicted for Assisting Putin's Friend in Money Laundering

Four bankers from Gazprombank have been convicted in Switzerland of failing to exercise necessary oversight with regards to accounts that helped Sergey Roldugin deposit millions in discrete bank accounts between 2014 and 2016. Roldugin is a longtime ally of Russian President Vladimir Putin and is alleged to have laundered money for him. The men have been handed suspended jail sentences that carry with them fines of 741,000 Swiss francs ($809,000; €743,400).

via DW (English)|
#bankers#crime#gazprombank