David Gu: I should be so lucky

Naturally when I read about how much David Gu, the head of Merrill Lynch’s global-rates division, had trousered as a reward for his sterling performance in 2008, I sent him a congratulatory email.

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“I know a lot of trading businesses had a good year last year, but this looks like Merrill must have really had it off, contrary to all the press reports and contrary to what I was hearing through the market. Good job you don’t work for RBS I guess. Can you imagine how the British press would have reacted? Congratulations. I guess the drinks must be on you next time we meet,” I wrote.

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