So much for moving to London to make money. A new survey from HSBC suggests expats in London find it harder to amass wealth than expats elsewhere. Globally, around 73% of expats said they saved more money on their international assignment than they did at home; in the UK that proportion dropped to around 48%. And although 8% of expats globally said they saved less money while overseas, in the UK the percentage saving less was 27%. Their difficulties saving seem to have something to do with the high cost of food, entertainment, transport and housing here.

UBS considering outsourcing 5,000 IT jobs to India. (Wealth Bulletin)

“…saying that all banking is corrupt or is there for personal enrichment. It’s not true.” (The Times)

‘Bab’ (bonuses are back) is the new City ‘buzzword.’ (The Guardian)

Should there be outrage over Citi pay rises? (Deal Journal)

Mervyn King is disappointed about bank remumeration. (Bloomberg)

Slaughter & May earned £22m advising the Treasury. (Financial Times)

Credit Card securitizations go the way of real estate. (Financial Times)

Number of people with $30m to invest down 25%. (Financial Times)

Europe’s very best strategist quits SocGen. (Bloomberg)

I can’t, off the top of my head, think of a single government regulation over the past couple of decades which has remotely harmed Goldman Sachs. (Felix Salmon)

I don't know what this post means. It came to me in a vision this morning. I guess I'm trying to go beyond words. (MoneyistheWay)