Asia Cools Off

Less than a year ago, everyone, including this publication, was telling you to get a job in Asia. While some economies in the region are growing faster than the U.S. or Europe, companies are beginning to scale back their expansion plans.

In 2011, 8% of global layoffs at big banks took place in Asia. In the first quarter of 2012, that number jumped to 18%, The Wall Street Journal reported. Since then, more layoffs have been skedded to occur, say senior bankers and headhunters.

Yesterday, Minneapolis-based Piper Jaffray said it would close its Hong Kong business by September 30 due to mounting losses from that branch. It joins banks such as HSBC, Credit Suisse and Deutsche Bank in pruning headcount.

There are still opportunities in the region if you know where to look. Cantor Fitzgerald plans to expand in Asia over the next three to five years as a part of a global ramp-up and will have 15 to 20 people trading Japanese equities. It is also looking at joint ventures in China.

And don't discount the Russians. Investment bank VTB Capital is bringing on people, too, in Shanghai and New Delhi.

Losing Out (NYT)

The advent of technology is hitting close to home on Wall Street. Computer programs are now taking the place of bond traders.

Out the Door (WSJ)

After fighting with Barclays' board over the size of Chief Executive Bob Diamond's compensation package, the pay committee head at the bank is stepping down. Alison Carnwath had wanted to limit the size of the payout, and people weren't happy.

Build 'Em Up (CNBC)

Tear 'em down, this way to Weill town. Former Citigroup leader Sandy Weill is now calling for the big banks to be broken up, more than a dozen years after he clamored for them to come together.

In the Closet (WSJ)

Coming out at work is still an emotionally draining, challenging experience for many financial services employees. Take heart from the CEOs who have already done it.

Testosterone-Fueled (At Work)

The more testosterone you have, the less able you are to get inside the head of someone you're making a deal with.

Working Out Your Frustration (Bloomberg)

If you're not getting enough risk-taking action on the Street, try your hand at Muay-Thai, like this Jefferies banker angling for thrills.

Buzz Around the Office

Disney Sleighs Santa (MSN Now)

A jolly old man with a big white beard was labeled "disruptive" and asked to alter his appearance during a recent family trip to Disney World because he appeared too "Santa-ish."

List of the Day: How to Get a Better Title

If you're not getting a pay raise any time soon, you should ask for a more impressive job title.

1. Research industry norms to see where you might fit in.

2. Make a case with a list of your accomplishments.

3. Present it as a benefit for the company and clients.

(Source: The Daily Muse)