Wednesday 28 April 1999
All in half a day's work: Spare a thought for the poor London-based investment bankers eking out an existence on paltry six-figure salaries. The Canary has news of one Baltimore-based financier who was in the market for a million-dollar house in Antigua. No sooner had he put down his deposit of $65,000 (pounds 39,000) than he was told by a friend that neighbouring Barbuda was actually the place to be. He immediately pulled out of the sale. "You realise," warned the English solicitor officiating, "that you will lose your deposit."
"What do I care?" drawled the banker. "It's only half a
Going green, or red-faced: After our revelations that Reuters, the financial news and information company, is planning to send more staff to Devon, the Canary was inundated with calls from employees. "There are serious implications for the quality of our product," one caller told us. And serious implications for a load of Londoners that don't want to move to the West Country? An existing staffer at Tiverton also phoned, but sounded confused. "I knew there were plans for us to move," she said. "But I thought we were all moving to Exeter." It must be all the cider they drink down there.
Paribas lock-in: London staff of the French investment bank Paribas are being offered golden handcuffs to stay. This follows the pounds 22bn hostile bid from Banque Nationale de Paris for Societe Generale and Paribas. Paribas and Societe Generale had been discussing a gentle coupling of their own, but now the atmosphere is tense. "The uncertainty and the acrimony is worse than anything else," says a Paribas trader. "The handcuffs will have to be pretty bloody shiny to get people to stay. Headhunters are sniffing about at every level."
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