BOSTON (Reuters) – Over the last year Dr. Darrick Antell has performed up to three or four chin implants a day, reflecting a national trend that has seen chin augmentations emerge as the fastest growing plastic surgery trend of 2011.
After about a 45-minute outpatient procedure and a bill ranging from $3,500 to $7,500, New York-based Antell’s patients emerge with what he said is a confidence boost: an athletic, youthful look from a more prominent chin.
Another panel, another group of rich guys talking about income inequality in America.
That seemed to be a running theme of the Milken Global Conference by the time Tuesday afternoon rolled around in Los Angeles – particularly when the well-known and notably tart Harvard historian Niall Ferguson took to the stage to decry single welfare moms as lazy drags on society.
There was an awkward moment of tension at the Milken Global Conference in Los Angeles, when a buysider on one panel asked a Wall Street banker whether he had pocketed taxpayers’ bailout cash.
The tit-for-tat began when several panelists at the “Outlook for M&A” session began griping about the U.S. government’s tax policy, which they said dissuades corporations from bringing overseas profits back home because of punitive taxes.
April 27 (Reuters) – Nomura Holdings has hired
Michael Rome, a former trader at the hedge f unds SAC Capital and
Diamondback Capital Management, for its U.S. equities trading
business, according to three sources familiar with the matter.
The hire is Nomura’s latest as it builds its North American
operation. The Japanese bank has staffed up and cut down its
U.S. investment banking and capital markets business multiple
times. The latest round of expansion began in 2009 after Nomura
acquired Lehman Brothers’ Asian and European businesses and
sought to fill in gaps.
April 27 (Reuters) – Lazard Ltd’s first-quarter
earnings dropped sharply because of higher costs, but the
boutique investment bank beat analyst expectations by a wide
margin when excluding a previously announced charge related to
Lazard has had a harder time than some bigger Wall Street
rivals in cutting compensation expenses, partly because of
contractual obligations but also because it has historically
paid a bigger portion of revenue to its investment bankers.
April 26 (Reuters) – Investment banks globally will likely
have to reduce staff levels by at least another 10 percent to
achieve profitability targets, and the next round of layoffs may
ax senior executives, a report said.
Pay levels may get cut as well, particularly for senior
employees who tend to be the most expensive for a bank,
according to a report by Boston Consulting Group.
(Reuters) – Gene Sykes, global head of Goldman Sachs Group Inc’s (GS.N: Quote, Profile, Research, Stock Buzz) mergers and acquisitions business, has been named to the investment bank’s management committee, according to an internal memo.
The 54-year-old investment banker joins 28 other executives on the powerful committee, which includes Chief Executive Lloyd Blankfein and Chief Operating Officer Gary Cohn, and influences decisions about Goldman’s business strategy and operations.
(Reuters) – Morgan Stanley (MS.N: Quote, Profile, Research) won market share in bond trading in the first quarter after years of investments in the business, allowing the investment bank to post results that beat many analysts’ expectations.
The investment bank and brokerage said its adjusted bond trading revenue rose compared with last year’s first quarter, even as competitors posted declines. Morgan Stanley shares were up 3.3 percent to $18.24 in Thursday morning trading.
(Reuters) – Morgan Stanley’s first-quarter results beat expectations, as trading revenue rose sharply and the bank’s wealth management business began to improve, sending its shares up in premarket trading on Thursday.
Wall Street banks have had a good first quarter as capital markets activity returned after a dismal 2011. In the past few days, rivals Goldman Sachs Group Inc, Citigroup Inc and JPMorgan Chase & Co have all said they have benefited from the rebound in capital markets.
April 17 (Reuters) – Goldman Sachs Group Inc posted a
23 percent decline in quarterly earnings after it dialed down
its risk-taking in tricky markets, and its clients also reduced
their appetite for bets.
The results show just how much the new regulatory
environment, as well as recent market tumult, are spurring
Goldman Sachs to take less risk. It is a real turnabout for the
bank, which in the years leading up to the financial crisis was
one of the most aggressive on Wall Street.