Category Archives: Finance
An apology over the proposed bonus cap
The proposed extension of the cap on bonuses to asset managers has exposed the true colours of MEPs in attacking bonuses: they just don’t like rich people. My latest column for Financial News I feel that an apology is in … Continue reading
Stephen Hester: the banker who works (almost) for free
If you think the chief executive of RBS gets paid too much, think again. He gets paid nothing like as much as the outraged headlines suggests… It is difficult to think of a better way of reigniting the moral outrage … Continue reading
Full steam ahead at Goldman Sachs?
Is the decision by Goldman Sachs to increase compensation this year a) stupid b) stubbornly short-sighted or c) eminently sensible? Welcome back, Goldman Sachs. It may be too early to call a recovery just yet, but Goldman Sachs had plenty … Continue reading
The problem with investment banks – part 1: revenues
The investment banking industry has a problem. In fact it has at least three of them: a revenue problem, a cost problem, and a profitability problem. In the first of a series of three articles to cheer you up after … Continue reading
That new banking inquiry team in full…
After an ill-tempered debate in the House of Commons, a senior Treasury source has leaked its proposal for a ‘dream team’ inquiry into the standards in the banking sector that combines cross-party political representation with a few professional executioners. Andrew … Continue reading
Jamie Dimon’s testimony to US Senate Committee
Here is the full text of Jamie Dimon’s testimony to the US senate committee on banking, housing and urban affairs, ahead of what is likely to be a bruising hearing today at which he will be grilled about the $2bn … Continue reading
Can Credit Suisse solve its chronic cost problem?
Over the past decade, Credit Suisse investment bank has consistently had a higher cost base than its rivals, despite repeated attempts to tackle it. Unless it makes progress soon, it could be time to bring out the knives again. My … Continue reading
Aux armes, citoyens! The assault on French banking
Both of the main candidates have turned on bankers in an increasingly populist presidential election campaign in France – to the dismay of many of their compatriots. My latest column for Financial News: If investment bankers and traders in London … Continue reading