CITY DIARY: Barclay’s new investment banking chief urges more risk-taking
Risky businessman: Barclays’ new head of investment banking Tim Throsby
Barclays’ new head of investment banking, ex-JP Morgan Aussie Tim Throsby, 50, who arrived in post in January, has been busy reinvigorating his new unit, according to the Wall Street Journal.
His message to the troops: Don’t be afraid to take more risks.
Oh dear. Haven’t we been down this IED-laden road before?
Do the eggheads at the Institute for Fiscal Studies teeter with self-importance?
Their annual Green Budget, published last month and setting the scene ahead of the Chancellor’s big day, was 307 pages long.
Philip Hammond’s statement, which he delivered to the Commons yesterday, came in at just 64 pages.
Gordon Brown’s final Budget in 2007 ran to a snooze-inducing 317, but neither brevity nor mirth were his strong points.
New York-based hedge funder Ray Dalio, 67, says that he encourages an awkward office atmosphere at his fund Bridgewater Associates, which he likens to visiting a nudist beach.
He reasons: ‘If you can stand naked in front of other people and have them stand naked in front of you, you can have actually better relationships and be more productive.’
If he says so. Let’s hope he doesn’t give London’s hedge fund Adonis Crispin Odey or his rivals any unsavoury ideas.
How the Mighty Have Fallen Part 1: George Osborne entering the Commons chamber for yesterday’s Budget and having to make small talk with Liberal Democrat numbskull Tim Farron.
Part 2: David Cameron wandering aimlessly around the Whole Foods Market in Kensington, West London, dressed in civvies while clutching a tatty recyclable shopping bag.
Budget got you down? Brexit making you anxious? Fret not. Matters are far worse over in France.
Revered French political scientist Brice Teinturier’s latest book, which discusses the glum economic situation across the Channel, has been named the country’s political book of the year.
It’s title? ‘Plus Rien a Faire, Plus Rien a Foutre.’ Translation: ‘Nothing More to Do, Nothing More to F***.’