There are plenty of league tables out there about who lost how much on what deal; we've covered and or seen most of them by now. What we haven't seen -- at least, until now -- is a look at just how those losses stack up against employees.
The editors at financial news site Here is the City put together a look at how write-downs and related credit losses stack up per wholesale banking employee
at key financial firms worldwide.
The largest loser?
By far, that title goes to Japan's Mizuho Financial Group. (Yes, really.) With $5.5bn in write-downs and credit losses, and just 2,000 wholesale banking employees, the losses total a stunning $2,750,000 per employee. Wachovia ranks in at second, with losses equalling $1,794,872 per employee, the publication calculated -- stunning, considering the larger aggregate losses tallied by firms like UBS and Merrill Lynch.
The best performer? Why, BNP Paribas, thank you very much...