Wall Street Roundup: Wall Street job losses. Soft landing for AIG boss.
Wall Street job losses. Analyst Meredith Whitney is estimating that securities firms may cut 10% of their workforce around the world over the next year and a half as the industry consolidates after the financial crisis.
Emerging market optimism. Stock markets in emerging markets may quintuple in value over the next two decades, according to a new paper from Goldman Sachs.
Soft landing for AIG boss. Martin Sullivan, the much-maligned chief executive of American International Group during the financial meltdown, has found a new job at Willis Group Holdings, an insurance firm.
Everybody hurts sometimes. John Paulson, the hedge fund manager who earned billions of dollars during the financial crisis, has continued to have a difficult year, experiencing losses last month in most of his funds, except one invested in gold.
-- Nathaniel Popper in New York