Masturbating and fucking around with clients money right? FUCK YOU CHEEBYE IBANKS! Now go suck dick man! Next time an investment banker comes to you, you offer them a nickel. Haha. Poor thing man, now, bankers, traders and insurance agents who have been pimping off other peoples money are now going to be washout prostitutes! Want a hooker or gigolo? Go to an IBank! HAHAHAHAHAHHAHAHAHAHHAHA! Take the train like everyone else shitheads!
High-flying bankers told to cut back
By Siow Li Sen
Fly economy class, no free spas and do your own laundry. These are some of the 'hardships' confronting once high-flying bankers who still have their jobs.
Banks are going through expenses and travel bills with a fine-tooth comb as the recession starts to bite, revenues fall and there is a howl for blood from shareholders and an outraged public.
'It's long overdue, this belt-tightening. A lot of nonsense went on in the industry and needs to be weeded out,' said a former private banker with Citigroup.
She said that she knew people who use to fly to Hong Kong or Mauritius, saying that it was for the funeral of a client's grandmother or to attend to a client's request.
A banker with an European private bank said: 'Some banks are restricting travelling and off-sites, cutting back on sponsorships, squeezing suppliers and trying to achieve economies of scale, and reviewing staff benefits.'
Some banks have introduced staff referral programmes instead of going to headhunters, she added.
Bankers here said that the big spenders were generally the European and US banks, but their free-wheeling days are over. Now, even telephone bills are scrutinised and laundry expenses are only allowed if a trip is four days or more.
Citigroup Private Bank spokesman Jack Sung said that the cases cited are highly speculative. 'Citi's policy has always been that personal expenses are non-reimbursable,' he said. 'The same applies to handphone bills - only business-related calls are reimbursable. Nothing has changed in this regard - ditto for the laundry claims.
'We have been steadily reducing our expenses in line with the targets set by chief executive Vikram Pandit earlier this year. We will continue to look for smarter and more productive ways to manage our business, but without compromising the service we provide to our clients,' he said.
At Credit Suisse, bankers must book the least expensive standard rooms at hotels and the lowest airfare through a designated travel agency.
All Credit Suisse staff, including managers, are told to use alternatives to travel, such telephone or video/Web conferencing.
'If a business trip cannot be avoided, the principle of the lowest cost applies, and travellers are required to plan ahead to combine a number of business activities to minimise recurring trips to the same destination,' said a Credit Suisse spokeswoman.
Francois Monnet, Credit Suisse managing director and head of private banking, South-east Asia and Australasia, said that the bank has well-established policies on travel and entertainment, which employees must comply with at all times. 'In general, Credit Suisse has an ongoing focus on efficiency,' he said. 'Over the past few years, we have reduced the level of non-compensation costs in investment banking.'
UBS has told bankers in Asia to travel economy class on flights of up to five hours. A UBS source said that it is an encouragement, not a rule.
'UBS has always been vigilant with regard to costs and we will continue to review all areas where cost efficiencies may be achieved,' said spokeswoman Julie Yeo.
Merrill Lynch & Co and JPMorgan & Chase Co are telling senior bankers in Asia to fly economy class on short-haul trips, Bloomberg reported yesterday.
Royal Bank of Scotland, which ceded majority control to the UK government this month, asked workers worldwide in an Oct 16 memo to fly economy class on regional routes and to cut back on travel.
HSBC Holdings' Asia unit has asked its Hong Kong department heads and branch managers to cut travel expenses by 15-20 per cent next year.
The three Singapore banks - DBS, United Overseas Bank and OCBC Bank - said that they have not introduced new cost-cutting measures but have stringent processes to ensure that only authentic claims are reimbursed.
High-flying bankers told to cut back
By Siow Li Sen
Fly economy class, no free spas and do your own laundry. These are some of the 'hardships' confronting once high-flying bankers who still have their jobs.
Banks are going through expenses and travel bills with a fine-tooth comb as the recession starts to bite, revenues fall and there is a howl for blood from shareholders and an outraged public.
'It's long overdue, this belt-tightening. A lot of nonsense went on in the industry and needs to be weeded out,' said a former private banker with Citigroup.
She said that she knew people who use to fly to Hong Kong or Mauritius, saying that it was for the funeral of a client's grandmother or to attend to a client's request.
A banker with an European private bank said: 'Some banks are restricting travelling and off-sites, cutting back on sponsorships, squeezing suppliers and trying to achieve economies of scale, and reviewing staff benefits.'
Some banks have introduced staff referral programmes instead of going to headhunters, she added.
Bankers here said that the big spenders were generally the European and US banks, but their free-wheeling days are over. Now, even telephone bills are scrutinised and laundry expenses are only allowed if a trip is four days or more.
Citigroup Private Bank spokesman Jack Sung said that the cases cited are highly speculative. 'Citi's policy has always been that personal expenses are non-reimbursable,' he said. 'The same applies to handphone bills - only business-related calls are reimbursable. Nothing has changed in this regard - ditto for the laundry claims.
'We have been steadily reducing our expenses in line with the targets set by chief executive Vikram Pandit earlier this year. We will continue to look for smarter and more productive ways to manage our business, but without compromising the service we provide to our clients,' he said.
At Credit Suisse, bankers must book the least expensive standard rooms at hotels and the lowest airfare through a designated travel agency.
All Credit Suisse staff, including managers, are told to use alternatives to travel, such telephone or video/Web conferencing.
'If a business trip cannot be avoided, the principle of the lowest cost applies, and travellers are required to plan ahead to combine a number of business activities to minimise recurring trips to the same destination,' said a Credit Suisse spokeswoman.
Francois Monnet, Credit Suisse managing director and head of private banking, South-east Asia and Australasia, said that the bank has well-established policies on travel and entertainment, which employees must comply with at all times. 'In general, Credit Suisse has an ongoing focus on efficiency,' he said. 'Over the past few years, we have reduced the level of non-compensation costs in investment banking.'
UBS has told bankers in Asia to travel economy class on flights of up to five hours. A UBS source said that it is an encouragement, not a rule.
'UBS has always been vigilant with regard to costs and we will continue to review all areas where cost efficiencies may be achieved,' said spokeswoman Julie Yeo.
Merrill Lynch & Co and JPMorgan & Chase Co are telling senior bankers in Asia to fly economy class on short-haul trips, Bloomberg reported yesterday.
Royal Bank of Scotland, which ceded majority control to the UK government this month, asked workers worldwide in an Oct 16 memo to fly economy class on regional routes and to cut back on travel.
HSBC Holdings' Asia unit has asked its Hong Kong department heads and branch managers to cut travel expenses by 15-20 per cent next year.
The three Singapore banks - DBS, United Overseas Bank and OCBC Bank - said that they have not introduced new cost-cutting measures but have stringent processes to ensure that only authentic claims are reimbursed.
This motherfucker really motherfucker siah. Wah lan, but still small fuck.
. Loobeeni say even long long before. I know so many howlian cheebye wannabes in the Ibanking, all bigger fuck than u (smaller than bigfuck
