At their meeting in South Korea on Saturday, finance officials from the G-20 made progress on a set of international rules that would require banks to hold large reserves of liquid capital should there be another crisis.
The standards are expected to be completed before November, when leaders will meet in South Korea for a summit. Still, there were disagreements over a global tax on banks that would generate funds for the next crisis. The rules are supposed to go into effect by the end of 2012.
European negotiators held separate meetings to sketch a plan for implementing continent-wide bailouts, the details of which may be ready as soon as Today. (WSJ
Job Growth in Finance Flat (FINS)
Job growth in the finance and insurance sector remained stagnant this month, indicating a leveling of the economy. The only notable job growth in the U.S. was from census hiring.
Asian Expansion (Wealth Bulletin)
will double its private banking headcount in Asia and hire 100 private bankers as it seeks to capitalize on the growing numbers of wealthy investors in the region.
More Morgan...in Charlotte (FINS)
Charlotte, N.C., is the hot spot of the week for finance hiring. Morgan Stanley will be hiring 50 wealth managers
and hedge fund
management services firm Citco Fund Services will be hiring over 250 workers -- all in BofA
Lloyd v. Arnold? (FT)
bet $35 million against California in the credit derivatives market, but the CDS was small enough not to affect bond prices.
From Friends to Enemies (DealBook)
Even though Ace Greenberg promoted Jimmy Cayne at every turn, Greenberg's new book is no love letter to Cayne.
Setting it Straight (Reuters)
Prudential is not making a second bid for AIA, a spokesman for the company said on Sunday. Even though the deal, which was part of AIG
's rebound effort, fell through, AIG CEO Robert Benmosche looks to be in the clear.
Mentoring Hotline (NYT)
If you haven't gotten yourself a mentor yet, now's the time. Though the traditional model of senior exec teaching young sprouts about the ways of the world still holds, young'uns are starting to mentor right back.
Related: Finding a Mentor and Getting the Most out of the Relationship
Not Over Yet (NYT)
Lehman may no longer exist, but its art collection does. Its money management team has put together a $10 million collection that will be sold in September. Art by the likes of Takashi Murakami and Damien Hirst is expected to raise a pretty penny for Lehman's creditors.
Dear Money (Speakeasy)
A chance encounter with a bond trader at a garden party inspired a writer to pen a novel entitled "Dear Money." She's curious whether the "American Dream" still exists.
Sky High (WSJ)
Morgan Stanley Asia chairman Stephen Roach is the real-life version of Ryan Bingham, George Clooney's character in "Up in the Air." He's traveled 1.2 million miles in three years.
For more news you need to know throughout the day, follow FINSider on Twitter!