Big US banks shedding star financiers and traders | Bangkok Post: news

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Big US banks shedding star financiers and traders

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NEW YORK - Crippled by lawsuits linked to the 2007-2008 financial crisis, American banks are grappling with an exodus of their best bankers and traders, lured by the huge salaries of little-regulated hedge funds. 

American banks are grappling with an exodus of their best bankers and traders, lured by the huge salaries of little-regulated hedge funds

Michael Cavanagh, 48, was the favorite to succeed Jamie Dimon at the head of JPMorgan Chase, the nation's biggest bank. But he gave up on that golden prospect in March to join the Carlyle Group instead.

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