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US bankers’ bonuses to dwarf those in Europe

“He predicts bankers on Wall Street will be handed bonuses 15-20pc higher than those at European rivals this year, or 10-15pc more for those working at a US bank based in Europe” writes Ben Marlow for telegraph.co.uk. Europe’s top bankers are on course to fall further behind their US rivals as Brexit uncertainty, low volatility and rising shareholder pressure drag down bonuses, City experts warn.Traders are already preparing for double-digit falls in bonuses after low volatility made it difficult to make money in 2017.Jason Kennedy, chief executive of recruitment firm…

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We asked 2 of Citigroup’s top executives what they look for when hiring senior investment bankers

“Citigroup’s investment bank has been making strides in recent years to compete for top honors in the league tables” writes Alex Morrell for businessinsider.com. And the bank this week promoted 33 staff in its corporate and investment bank to managing director, along with seven staff in capital markets origination. Business Insider recently spoke with McGuire and Tyler Dickson, the global head of capital markets origination, about what they look for in hiring senior-level bankers: Responses have been lightly edited for length and clarity.One key to Citi’s success is talent — retaining their…

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Wells Fargo’s Foreign Exchange Bankers Overcharged Tons of Customers

“Bankers at Wells Fargo foreign exchange group have been intentionally overcharging customers to inflate their bonuses, the Wall Street Journal reported” reports fortune.com. In addition to the internal audit that led to these revelations, Wells Fargo’s foreign-exchange division is under investigation by federal law enforcement organizations including the Federal Reserve and the U.S. Attorney’s Office for the Northern District of California.The findings about excess foreign-exchange charges applies only to deals with business customers.The bank estimates that up to 3.5 million unauthorized accounts may have been opened.However, the bank is still…

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Markets News Regulators 

Top central bankers vow to talk investors out of easy money

“Then-Fed chair Ben Bernanke famously sent global bond markets into a tailspin in May 2013 by suggesting that bond purchases could be reduced” reports cnbc.com. “Why discard a monetary policy instrument that has proved to be effective?”. Four of the world’s top central bankers promised on Tuesday to keep openly guiding investors about future policy moves as they slowly withdraw the huge monetary stimulus rolled out during the financial crisis.To do this, words will be key, the heads of the four central banks told an ECB conference on communication.”Forward guidance…

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We asked dozens of young bankers to name their biggest Wall Street concern —  and one answer came up over and over

“Business Insider recently compiled a list of the top talent on Wall Street age 35 and under, interviewing dozens of bankers, asset managers, and traders in the process” writes Alex Morrell for businessinsider.com.au. We asked the crop of dealmaker candidates currently making waves in investment banks and private equity shops the same question: What’s your biggest concern about the industry?. Investments in private tech companies by banks have soared in recent years. Source: businessinsider.com.au Share This:

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Central bankers are facing a crisis of confidence as models fail

“Central bankers usurped the titans of Wall Street as the masters of the universe almost a decade ago” writes unknown author for cnbc.com. But few central bankers are happy with meeting targets only once they have moved the goalposts.For now, the public still trust the women and men who work in the marbled halls of central banks around the world.The holy grail for central bankers is to claim credibly that they have “anchored inflation expectations” at the target level.Central bankers might have been the masters of the universe of the…

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New Wall Street Candidates Emerge to Test Trump-Era Appeal

“But Trump, a self-described billionaire who made a fortune in New York real estate and entertainment, has stocked his cabinet with Wall Street bankers and industry tycoons” writes Min Read for reuters.com. REUTERS/Brendan McDermid/File Photo (Reuters) – With a businessman turned politician now in the Oval Office, a small but growing number of bankers and Wall Street financiers across the United States have set their sights on politics.In New Jersey, Connecticut and California, former bankers, hedge fund managers and private equity executives have either announced bids for legislative and gubernatorial…

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New Wall St candidates emerge to test Trump-era appeal…

“But Trump, a self-described billionaire who made a fortune in New York real estate and entertainment, has stocked his cabinet with Wall Street bankers and industry tycoons” writes Min Read for reuters.com. REUTERS/Brendan McDermid/File Photo (Reuters) – With a businessman turned politician now in the Oval Office, a small but growing number of bankers and Wall Street financiers across the United States have set their sights on politics.In New Jersey, Connecticut and California, former bankers, hedge fund managers and private equity executives have either announced bids for legislative and gubernatorial…

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Chinese debt is so bad that even Chinese bankers now say it’s a ‘bubble’

“But it is news that the situation is so bad that even Chinese bank executives are willing to say they’re in a bubble” writes Jim Edwards for businessinsider.com. One of them — Charlene Chu — now says Chinese debt is so large its scale is becoming almost unimaginable.It’s a “bubble,” according to Lai Xiaomin, chairman of China Huarong Asset Management, China’s largest state-controlled “bad bank.”. Huarong trades in non-performing loans, distressed assets and bad debt.LONDON — It is not news that Chinese debt is regarded as a risk to global…

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