Richard Beales joined Breakingviews in 2007 from the Financial Times, where he was U.S. markets editor and a Lex columnist. Prior to the FT, he spent more than 10 years as an investment banker at Schroders and Citigroup, based largely in Hong Kong and working on project finance, mergers and acquisitions. He has also lived in Sydney, Australia, and began his working life in London at Mars & Co, a management consultancy. Richard holds a masters in business journalism from New York University and a degree in biochemistry from St John’s College, Cambridge. Follow Richard on Twitter @richardbeales1
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The tech giant’s executive chairman is taking 20 pct of the hedge fund firm off bankrupt Lehman Brothers’ hands. The billionaire was brought into Google to supervise its young founders. Not for him the frivolity of, say, a sports team investment like Steve Ballmer’s.
Jonathan Hoffman is in court demanding $84 mln in bonuses from the defunct U.S. firm – even though Barclays paid him the same hefty sum. The UK bank’s ex-boss Bob Diamond once touted a “no jerks” policy to fix the culture. Hoffman exemplifies why some banks have so far to go.
The financial network’s global downtime may have been a problem only for the very rich – and a boon for City pubs. But it prompted the Bank of England to remind banks it’s there as a lender of last resort, raising questions about traders’ heavy reliance on a few fallible systems.
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- New York strikes fresh blow for boring investments
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- Hacked JPMorgan can leapfrog peers on cyber danger
- Kraft investors bet Heinz can refill secret sauce
- Sotheby's new CEO brings needed broad-brush talent