Julius Baer's China Move

Ka-ching! Julius Baer has hit the big time with a new arrangement with the Bank of China, which will allow the banks to refer clients to one another. That will give the Swiss private bank access to millions of millionaires.

Asia has been on Julius Baer's radar for some time, the Journal reports. The Zurich bank opened an office in Shanghai last year and has hired client advisers across the region over the past six years. It has also entered into partnerships with local banks in markets like Indonesia.

"The partnership offers the potential for Julius Baer to gain further access to the Chinese mainland, one of the world's most important and fastest-growing wealth markets," Julius Baer Chief Executive Boris Collardi told the Journal.

The Swiss bank is still in discussions to acquire BofA's non-U.S. wealth management unit. Last month, FINS reported that most of the 2,000 employees in that unit wouldn't have to worry about losing their jobs should the deal go through, as Julius Baer is in growth mode and would want to capitalize on having wealth managers stationed around the world.

Extreme Proposals (Financial News)

A new report argues that all incentive compensation should be deferred until the person retires, at which point they can receive it in gold coins if they want to and throw them in the air multiple times an hour.

Hedge Fund Starter-Uppers (DealBook)

Scott Ferguson, one of Bill Ackman's longtime employees at Pershing Square Capital Management, is leaving at the end of July to start his own firm.

Intern Problems (At Work)

We've all been there: The summer intern put the wrong color ink in the printer again or plagiarized all of "War and Peace" in a company memo. Try to reform them before you fire them, unless, of course, the damage is so egregious they need leave immediately.

Four Years Later (Business Insider)

Follow the gang of Bear Stearns to see where they all ended up. Maybe they'll have a reunion on Jimmy Fallon, a la the "Saved by the Bell" crew.

Your and You're (Forbes)

If you don't know the difference between "none of them is" and "none of them are," you may have a tough time impressing the top brass at an interviewing firm.

Buzz Around the Office

Best in Show Business (BuzzFeed)

Actor Fred Willard, who was busted for lewd conduct last week following an incident at an adult movie theater, has taken to Twitter to defend himself.

List of the Day: Avoiding Interrupters

Don't you just hate it when colleagues cut you off mid-stream?

1. Keep talking, quietly and firmly.

2. Say you're happy to hear their thoughts when you finish.

3. Pull the person aside only as a last resort.

(Source: MoneyWatch)