London's Identity Problem

You don't need multiple surveys to tell you that London is a top financial center. But that status might be in jeopardy if the City doesn't start hiring, and soon.

A new report from headhunter Astbury Marsden finds that almost 3,000 jobs were created in the financial services space in London in July, down nearly 40% from the same period a year earlier. That's the bad news. The good news is the figure is an improvement on recent months and shows banks are willing to hire to match the number who depart.

Still, Mark Cameron, chief operating officer at Astbury Marsden, told the Independent that "although there has been some growth over the last month, the appetite to hire in the City remains pretty thin. "Banks are hiring new staff, although this is more often than not to replace departing staff, as opposed to reacting to an anticipated growth in investment banking revenue."

What with the recent Libor scandal at Barclays and trading scandal at J.P. Morgan, it's a tough time for the sector in London. It's up to the bankers to counter the politicians and make clear that stirring up public sentiment on the issue helps companies decide to move jobs away from the city.

August is usually a slow time of the year for both news and banking. That hasn't been the case this year, to the detriment of the industry.

Death and Taxes (Bloomberg)

You may be surprised to hear there are hundreds of Swiss banks besides UBS, Credit Suisse and Julius Baer. But many will have to close as the industry consolidates.

Power Couple (Financial News)

Michael and Yoel Zaoui, former star bankers at Morgan Stanley and Goldman Sachs, respectively, are starting up their own firm. We imagine their inboxes are already overflowing with resumes.

Just Saying No (WSJ)

Big banks are resigning themselves to a slew of new regulations coming from recent federal reforms, but smaller banks aren't too happy with their lot.

Hard Work Pays Off (Bloomberg)

Olympics water polo silver medalist Peter Hudnut was able to get a job at Goldman Sachs. It only took him 28 interviews.

Climbing the Ladder (Going Concern)

This might surprise you, but if you want to make partner at a public accounting firm, you should learn how to file expenses and do other administrative tasks.

Buzz Around the Office

Thirst for Gold (Yahoo Sports)

Olympic gold medalists who want to quench their thirst can head over to a trendy London nightclub for a special drink on the house. The cocktail costs $3,117.48 for you and me.

List of the Day: Getting a Raise

Before you ask for one, make sure to check these off.

1. You've been there for more than a year.

2. The company's not in major transition mode.

3. You're exceeding expectations, not just meeting them.

(Source: The Daily Muse)