More bad news for bankers. There are reports and rumors that UBS (NYSE:UBS) and J.P. Morgan Chase & Co. (NYSE:JPM) are doling out pink slips.
- UBS reportedly will cut 240 jobs at its wealth management group in the Asia-Pacific region, with the largest cuts, about 100 jobs, coming from offices in Singapore, according to The Wall Street Journal.
- Dealscape received a tip from a reader that J.P. Morgan is doling out the pink slips this week and is offering a 52-weeks of severance pay.
- Discover Financial Services will layoff 500 employees next month, according to Bloomberg.
Despite the bad news, Goldman Sachs Group Inc.'s (NYSE:GS) earnings report offered more than one reason for employees to rest easy Monday night: No more layoffs at the firm, CFO David Viniar
said on Monday's earnings conference call.
While Goldman staff can relax, it remains rough out there for others, but there are jobs.
- Money manager Aladdin Capital
Holdings started a debt capital markets group and plans on building a more diversified boutique investment bank
and taking advantage of the wealth of talent, according to Reuters.
- Putnam Investments has been on a hiring binge and likes candidates from Fidelity Investments, according to Boston.com.
- Macquarie Group Ltd. is close to launching a trust joint venture in China,
where the Australian bank aims to expand its investment business
for both individual and institutional clients, according to Reuters.
For the latest job postings, check out
TheDeal.com's Career Center. Here is our pick for the day:
Boutique Investment Banking position in New York City
For a roundup of all the announced layoffs to date, check out The Deal's Pink Slips on Wall Street Dealwatch or any of the links below. Also feel free to leave us any layoff tips or rumors you are hearing. - Maria Woehr
(Follow me on twitter or send me tips: @newsgirlmw)
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