tyb's
o7
>It's been a hell of a Q Day !
fuck ya!
>All is well here
glad to hear that. best to all of you.
couldn't be better.
Deutsche Bank Faces An Existential Question: How Much Can It Spend On Bonuses?
After he backed away from a merger with Commerzbank earlier this year, Deutsche Bank CEO Christian Sewing was pressed by the bank's board and its biggest investors to unveil a sweeping restructuring program to save Germany's biggest and most unwieldy financial institution from system-threatening insolvency. Businesses - including pieces of the bank's equity-trading apparatus - were either shuttered, sold off or moved to a revived "bad bank" unit. Sewing also embarked on what has been, by some counts, the biggest mass layoffs to rock Wall Street since Lehman's bankruptcy. So far this year, the bank has fired 5,000 employees, mostly from its investment banking businesses, with another 13,000 to go.
A team of BBG reporters address this question in a Q&A that examines how Sewing can make the best use of his under-€2 billion bonus pool.
How can Deutsche Bank balance departures with hires?
More than a dozen high-profile executives from the investment banking units that Sewing wants to keep have joined rivals since May, when the CEO dropped the first big hint that he was going to take an ax to the business. Many top performers are only staying because compensation is still comparatively good, even though morale has slumped after years of piecemeal cuts to the business, according to people familiar with the matter.
How much money can Sewing spend?
Deutsche Bank spent 1.9 billion euros ($2.1 billion) last year on bonuses.
The bank has said the size of the pool this year will reflect the shrinking workforce, which is down 5% so far, and the fact that it has shuttered equities trading. European investment bankers more generally are facing smaller bonuses this year. The CEO maintains that the bank still has the means to compensate top talent even as it undertakes one of the most radical restructurings in its history. “We will compensate our people according to their operating performance,” he said in July after announcing 18,000 job cuts and a retreat from equities trading. The bank will pay "in a competitive way."
How has the investment bank performed?
While the CEO has vowed to at least stabilize the investment bank, revenue was down 11% in the first nine months of the year and pretax profit plummeted 47%. The units where most of the departed executives used to work are no exceptions. Income from helping companies raise money through share sales is down 40% over the period. The business of advising companies on deals did better, rising 3%. The malaise is being reflected in a comparison with peers. Deutsche Bank slipped to 15th rank in advising on mergers and acquisitions this year, from 11th in 2018 and eighth the year before, according to data compiled by Bloomberg. It has fallen to 12th place in global equity offerings, from eighth. “When I look at our revenues and where we’re heading from a 2019 perspective, I’m very confident versus where we were in ’18,” said Fedorcik.
What other options does Sewing have?
The bank in the past increased the spread between bonus payments for top performers and the rest as a way to save money while making sure the most important people stay. To replace expensive executives who leave, Deutsche Bank brought in more junior hires. There’s also an internal debate about how many departures can be filled through reassigning bankers from other parts of the business, the people familiar said, asking not to be identified discussing internal deliberations.
https://www.zerohedge.com/markets/after-year-bloodletting-how-will-deutsche-banks-ceo-convince-top-talent-stay-put
The old "we have to pay our talent to retain them"…left unsaid is that the "talent"-who just follow orders-are responsible for the mess.
from Nov 27
Deutsche Bank sells $50 bln in assets to Goldman amid overhaul
Deutsche Bank DBKGn.DE has sold $50 billion in unwanted assets to Goldman Sachs GS.N as part of its restructuring, three people with knowledge of the matter said on Wednesday.
The assets, related to emerging-market debt, were part of Deutsche's unit to wind down unwanted securities, the people said, confirming a development first reported by Bloomberg.
As part of a broad overhaul, Deutsche has hived off billions in assets into a so-called capital release unit, also called a bad bank. The sale to Goldman marks the latest in a series of disposals of such assets.
https://www.nasdaq.com/articles/deutsche-bank-sells-%2450-bln-in-assets-to-goldman-amid-overhaul-sources-2019-11-27
>https://en.wikipedia.org/wiki/Yossi_Cohen
Mossad’s Yossi Cohen Gets Away with Murder…Again
You’ve probably read the posts I wrote earlier this week about the Mossad assassination of Mohammed al-Zoari in Tunisia. Israeli politicians and journalists have strongly hinted at Mossad’s culpability. Tunisian authorities have been more forceful in blaming an Israeli assassination squad for the murder. This is at least the second such murder under Yossi Cohen’s watch as agency chief.
The first hit was last year in Bulgaria. There Cohen engineered the killing of Omar Nayef Zayed, who had murdered an Israeli settler in 1986 and later escaped Israel and found refuge in the eastern European nation. There he ran a grocery store, married and had children. As I reported earlier at Mint Press News, Yossi Cohen is reported to have been chief of European operations for Mossad during the period of Zayed’s escape. I suggested that the murder was Cohen’s form of payback, warning both Palestinians and his own personnel that he is a tough son of a bitch who “always gets his man.”
After Zayed was beaten and thrown to his death from a fourth floor window in the Palestinian embassy in Sofia, the authorities there immediately rushed to exonerate themselves of any responsibility for his death. They suggested that Zayed, despondent after seeking refuge in the embassy to escape extradition to Israel, and finding no likelihood of escaping his fate, committed suicide. That seems as likely as Donald Trump nominating Barack Obama for the next Supreme Court vacancy.
Today, the Bulgarians announced they were closing the case, finding that the victim had indeed killed himself. Case closed. Yossi Cohen gets away with murder…again.
No doubt, we’ll be hearing that Israel has “sweetened the pot” by offering one of the most corrupt nations in Europe trade and arms deals, easing of visa requirements (thousands of destitute Bulgarians serve as foreign workers in Israel), etc. It’s payback and a sleazy business the way Israel plays it. It happened to Ukraine in the case of Dirar Abu Sisi. It’s possible someone in Tunisia may have looked the other way in permitting the al-Zoari killing as well–though Israel must be more discreet with an Arab-Muslim nation with which it has no formal relations. Palms are greased. Men are murdered. All in the name of reputed state interests: Israeli state interests. It’s also murder to burnish professional reputation. What a fraud! A shame and a fraud.
Cohen? He comes out of it smelling like a rose rather than a stinking cesspool. He’s Meir Dagan with his knife in his teeth killing Arabs, as Sharon urged him to do in appointing him Mossad chief. The nation will love him. Bibi will love him. Sara? The jury’s out on that one. But as long as he doesn’t step on Bibi’s applause lines he’s probably even OK with her.
But what does he really represent? He represents murder for murder’s sake. He represents rule by blood, the Israeli version of Richard III. A man liable to kill anyone for any reason as long as it’s possible to do it, get away with it, and it will advance his interest.
https://www.richardsilverstein.com/2016/12/25/yossi-cohen-gets-away-murder/
chek'd and
1815
France
Napoleon escapes from his banishment in Elba, an Island off the coast of Italy, and returned to Paris. By March Napoleon had equipped an army with the help of borrowed money from the Eubard Banking House of Paris.
"When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes… Money has no motherland; financiers are without patriotism and without decency; their sole object is gain." — Napoleon Bonaparte
On June 18th, 74,000 French troops led by Napoleon, sizing up to meet 67,000 British and other European Troops 200 miles NE of Paris.
Nathan Rothschild knowing that information is power stationed his trusted agent named Rothworth near the battlefield. As soon as the battle was over Rothworth quickly returned to London, delivering the news to Rothschild 24 hours ahead of Wellington's courier. A victory by Napoleon would have devastated Britain's financial system. Nathan stationed himself in his usual place next to an ancient pillar in the stock market. Knowing he would be observed he hung his head and began openly to sell huge numbers of British Government Bonds. Believing this to mean that Napoleon must have won, everyone started to sell their British Bonds as well. The bottom fell out of the market. Rothschild had his agents buying up all the hugely devalued bonds.
https://www.mindcontagion.org/banking/hb1815.html
>Dov Zakheim
>They had access to radio tho. Before officialy invented.
have heard that too. Never believed marconi invention story.