Euroblog

Blog was distressed to hear of more staff cuts in the City this week (not naming any names... UBS). We’re sure there are some psychopaths out there who relish dismissing staff — perhaps inviting them into the dreaded meeting room with a wide-eyed grin and promising them a promotion before letting out an uncontrollable, Patrick Bateman-style cackle and slamming the door in their face — but for normal, compassionate people, it can’t be a particularly enjoyable experience.

Despite their reputation in the broadsheets as evil house-snatchers and granny-muggers, many bankers put in their share of time to charity. Whether it’s growing a moustache for prostate cancer research or just sponsoring the guy at the desk across for his efforts, in general the City is a charitable lot.

With conditions as they are, it's not surprising that a lot of banking folk are thinking about their next job. Either the place they are at is too hateful or under-resourced to be bearable, or they've been shoved into the job market against their will.

For you grey hairs out there, Blog is proud to bring news of Andrew “Asbo” Asbury, erstwhile head of fixed income at Daiwa Capital Markets and bon viveur par excellence. He has clashed with his council over carrots and coleslaw.

Washington was the place to be this week, as the great and the good of the SSA world flocked to say farewell to John Borthwick, who is retiring at the end of September from his position as director of treasury operations at the IFC.

Why wouldn't you take a few days in Rio if you'd been at a conference in Sao Paulo? Having a wedding to plan would be one reason.

Things started out so well at The Cover’s annual awards dinner in Munich last Thursday. The covered bond community turned out in force, with the winners graciously and soberly accepting awards on stage.

Euroblog was intrigued to learn this week that the friendly competition among Swiss houses continues even outside the office walls and onto... a chess board. Believe it or not, most Zurich-based banks take part in a company chess league. But alas, even the best fall down sometimes!

Those outside the industry seem to think bankers have it made: fat pay packets and swish Notting Hill pads. They don’t understand that the bonus doesn’t earn itself, that it’s pretty dark when the 5.30am train rolls into the station, that after-work dinner and drinks with clients really aren’t much fun at all.

You know it's August when a high yield investor has the time to create a song devoted to the German Schuldschein product. The following might sound vaguely familiar — think of a band with a primate-inspired name and Google for a song that vaguely refers to the millennium. Listen, then read and enjoy.

Fancy cycling 900 miles in 11 days from the highlands down to the Cornish sea? Sam Boughton from the RBS high yield syndicate team has made it his challenge. The keen cyclist is riding from John O'Groats to Land's End in 11 days. Yes, you got the calculations right — over 80 miles a day.

As London returns to normal after the Olympics and every man and his dog either expresses their delight at the closing ceremony or picks holes in it — Blog thought it was pretty average until Pele showed up — many of us will be mourning more than just the end of the spectacle.