Rise and shine, António Horta-Osório, it's your first day back to school after winter vacation. Or, more appropriately, the first day back to Lloyds Banking Group after taking time off to treat exhaustion.
Horta-Osório, 47, is hopping back in the saddle after two months away from work. He spent weeks recovering from insomnia, claiming he once stayed awake for five consecutive nights. In other words, he underwent what is commonly known in some countries as sleep deprivation torture.
It's not going to be an easy homecoming. The bank is shedding 15,000 employees as it withdraws from 15 of the 30 countries around the world in which it has a presence. Under Horta-Osório's command, the bank instituted a cost-savings program to get back on track three years after the financial crisis.
One other issue is whether Horta-Osório will take a bonus for last year. He's allowed a maximum of 2.3 million pounds for 2011, but what with his absence and the British outrage over high compensation, it's anyone guess how much he'll actually pocket.
Grim Outlook (FINS)
Finance gained 2,000 jobs last month, but that's not enough to offset the hundreds of thousands of layoffs that will continue to take place.
All's Well in Rio (Bloomberg)
The Brazil financial sector is hotter than ever, and investment bankers who switched firms received pay bumps of as much as 25% in 2011. Talk about a supply-demand problem in your favor.
A New Paradigm (WSJ)
Private equity isn't what it used to be, and firms better adapt or fall behind in the survival of the fittest.
Mortage Hiring (First Coast News)
Missing the sun? Jacksonville, Fla.-based Foundation Financial Group is hiring. The firm is on the prowl for 10 mortgage loan officers, two insurance agents and a tax adviser.
More Layoffs (Bloomberg)
Susquehanna International Group LLP cut 15% of the 200 jobs in its institutional brokerage last week.
Help Wanted (Politico)
The Consumer Financial Protection Bureau is filling a range of positions, some of which pay up to six figures. Your new boss will be former Ohio attorney general and recently appointed CFPB director Richard Cordray.
A Little Help from My Friends (Christian Science Monitor)
The Obama administration is trying to help teenagers find jobs. Bank of America is one of the companies that's pledged to extend internship offers this summer.
Buzz Around the Office
Chicken What? (arbroath)
Sounds overpriced and probably not that safe to eat.
List of the Day: How to Waste Time
You probably didn't expect instructions on how to do this, but it will actually help your productivity.
1. Take breaks to read interesting stories or blog posts on something relating to your field.
2. Chat with colleagues to see what they're working on.
3. Set aside time to work on your own projects.