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TRENDING TAGS
Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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Highs and Lows of Working on Wall Street
The High: At this very moment, Deutsche Bank corporate and investment bank employees are slated to get more compensation, on average, than their counterparts at Goldman Sachs. The Low: New reports of cutbacks at Man Group.
Deutsche Bank, Germany’s biggest bank, for the first 9 months of 2010, has set aside more in compensation for employees of its corporate and investment bank than Goldman Sachs has done. Bloomberg News reported. The bank reserved enough money to pay nearly $395,000 to each of the 16,194 workers at the division. By comparison, Goldman Sachs has set aside per employee personnel costs of $371,000 (these figures include support staff and employees at units). Further details weren't provided.
Man Group. Monday, we reported that about 10% of the hedge fund manager's workforce was slated for lay offs. Now, the WSJournal is echoing those reports, saying that as many as 200 jobs (out of 1,800) will be cut over the next 6 months. The cutbacks would be among the largest at a major hedge fund firm in recent history. Most jobs cuts will come from layoffs, though some will come from attrition and consultants whose contracts are not renewed. [NYT Dealbook, 10/28]

