Bloomberg reports that the compensation reform bill introduced by Senate Banking Committee chairman Christopher Dodd Tuesday has been described as 'a toothless tiger' which will do little to impact investment banker pay and rein in excesses. The bill still only provides corporate boards advisory responsibilities on compensation, and recommendations can still be ignored by management.

Also in this article, The Daily Telegraph reports that Barclays Capital is thought to be considering increasing staff base salaries, with senior bankers in line for increases up to £200,00 ($333,000).

Reuters reports that Commerzbank has unveiled a revamped bonus plan. Bonuses for senior staff from 2010 will be paid in deferred stock vesting over 3 years. There will also be a 'claw-back' provision, which will kick-in in the event that the bank itself puts in a poor performance.

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In addition, Kenneth Feinberg, the Treasury Department's special master for executive compensation, who oversees compensation at companies receiving U.S. taxpayer assistance, said Thursday that he didn't expect any of the firms to appeal his decisions this year on executive pay and perks. Read more here

Bloomberg today reported that Calyon, the investment banking arm of the Crédit Agricole group – a banking giant with a global presence will be expanding its commodity team. Read article here

The Commodity Team currently consists of 70 front office professionals (traders, analysts, sales) - looks like this number will increase over the next year according to Martin Fraenkel, global head of commodities. To how much more?

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One more breaking news on the Brussels-enforced disposals by our major banks: Royal Bank of Scotland (RBS) is to sell its 51pc stake in RBS-Sempra, one of the world’s largest commodities trading businesses.

This will solve a potential bonus-shaped headache for RBS, which is already bracing itself for the flak that will inevitably arrive with its end-of-year plans to pay bonuses to employees in its investment banking arm.

RBS acquired the majority stake in 2008 for $1.7bn, and some of RBS-Sempra’s employees are among the bank’s highest bonus-earners.

The flip-side of the coin is that it makes a bucketload of money for RBS’s global banking and markets division. Still, the fact that most of GBM will be allowed to stay in RBS’s ownership will be good news for Stephen Hester, RBS’s chief executive, who sees it as a key part of the bank’s future.

Like the remainder of the assets that RBS will sell under its deal with the European Commission, the bank, which wasn't commenting this afternoon, will have four years to find a buyer for the joint venture.

SOURCE: SKY NEWS

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Last night I was skimming an article in Institutional Investors' Alpha, a trade publication for hedge fund investors and hedge fund managers. Did you know that there are internet matchmakers for more than jobs and dating? There are also internet matchmakers for hedge funds and investment advisors.

Here are some sites I came across in the article:

CapIntro.com
HedgeACT.com
HedgeConnection.com

These sites may benefit commodities traders considering a start-up hedge fund or may be helpful to an experienced fund manager wanting to raise capital.

I hope this information might be timely and useful. I am interested in hearing your opinion.



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I want you to take a look at: If Google had their way, would you use the Google PowerMeter? 

MUMBAI: Smelling an opportunity in the recession-wrecked shipping industry, JPMorgan Asset Management is planning to launch a sector-focused fund that will invest in distressed shippers and debt-ridden fleet operators. According to market sources, the asset management company is planning to raise around $750 million (around Rs 3,700 crore at the current exchange rate).

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A recruiter asked me to post this entry in hopes of getting feedback. She is a recruiter working mostly on contingency. She is employed with a firm which pays her a salary plus a percentage of her overall gross annual production and she wants to know if this is fair. For example: She receives an annual salary of $80K regardless of her production. Her gross production at year end was $500K, half of which was produced on her own. All of the business was with existing company accounts. Is this compensation plan fair? If not, what do you think, her total gross pay should be? What types of compensation plans are out there for recruiters?



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