GLG poaches two top Morgan Stanley traders to replace one Australian. (Financial Times)

Hedge funds may be struggling, but Man’s doing fine. (Evening Standard)

Credit Suisse opens equity research, broking in Pakistan. (Bloomberg)

Bank of America won’t trim dividend or raise new capital. (Bloomberg)

Credit Suisse predicts further €5.4bn hit for French banks. (Financial News)

How much is Lehman really worth? (Felix Salmon)

London cash equity trading down 8% in Q1. (Financial Times)

Seven foot boxing shrimps, is Guy Hands losing his touch? (Wealth Bulletin)

$500 oil coming soon. (Clusterstock)

Electricity traders zapped. (DealBook)

“I received my last tranche of UBS shares on March 1 at about $32 a share. About two weeks later, the shares had lost almost a quarter of their value to less than $25.” (Wall Street Journal)

“I’ve taken as much pain as virtually anybody in this industry,” Mr Devaney said. “I am bleeding, personally.” (New York Times)