Bankers take their bonuses and run: Flight from Wall Street National Edition

NEW YORK - Wall Street banks have suffered dozens of top-level departures in the wake of falling bonuses and the long bear market. Among those to have quit are Barton Biggs, the well-respected equity strategist at Morgan Stanley, David Baum, one of the most senior investment bankers at Goldman Sachs...

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Bibliographic Details
Published inNational post (Toronto)
Main Author Mary Chung and Robert Clow
Format Newspaper Article
LanguageEnglish
Published Don Mills, Ont Postmedia Network Inc 06.02.2003
Subjects
Bear markets
Bull markets
Hedge funds
Investments
NEW YORK
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Summary:NEW YORK - Wall Street banks have suffered dozens of top-level departures in the wake of falling bonuses and the long bear market. Among those to have quit are Barton Biggs, the well-respected equity strategist at Morgan Stanley, David Baum, one of the most senior investment bankers at Goldman Sachs, and Judah Kraushaar, the closely followed Merrill Lynch banking analyst. Merrill Lynch, J.P. Morgan Chase, Goldman Sachs and Morgan Stanley all paid bonuses in January, and have all since been hit by defections. Bankers usually wait until they have their cheques before they jump ship.
ISSN:1486-8008