The year of the long knives
The roll call of senior investment bankers sacked or leaving their posts this year is getting longer. The purges and departures may be cruel, but show that the industry is taking responsibility seriously, and sending the right message to junior staff.
Oswald Grübel from Credit Suisse. John Costas, Mike Hutchins, Peter Wuffli, Simon Bunce and Huw Jenkins from UBS. Thomas Fischer of WestLB.
Warren Spector from Bear Stearns. Osman Semerci and Dow Kim from Merrill Lynch. And now Tom Maheras from Citigroup.
Citis head of markets has walked, in what is
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