Remember when Goldman Sachs offered Thomas Hayes a $3 million signing bonus in 2008 to pull him away from UBS?
We didn’t either. And neither did Bloomberg, which reported this nugget on Thursday without crediting the 2013 story in The Wall Street Journal. The WSJ had bonus memories: Citicorp wooed and won the disgraced trader (who is now standing trial in London for manipulating Libor). Seems the troubled banking giant gave Hayes the boot a year later for misconduct.
Hayes, 35, has pleaded not guilty to manipulating Libor from 2006 to 2010. The benchmark is used to value more than $350 trillion of loans and securities. Bloomberg even grabs the same quote as the WSJ:
“One of my most talented young traders in Tokyo, Tom Hayes, is being aggressively pursued by Goldman Sachs,” Sascha Prinz, head of fixed income for Europe, wrote to Jerker Johansson, the head of UBS’s investment bank, in a June 24, 2008, e-mail shown to the jury by U.K. prosecutor Mukul Chawla. “They are offering Tom a large role with significantly more responsibility plus a $3m guarantee for 2008.”
UBS managed to keep Hayes away from Goldman in 2008 by offering him a guaranteed $2.5 million bonus.
Tell us: Who wrote it better?
Photo: iStockPhoto.com.