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...sweeping deregulation known as the Big Bang finally blew things wide open. Out went the late starts, long lunches and cartel practices beloved of London's fusty gents. In came U.S. investment bankers toiling for Goldman Sachs, Merrill Lynch and others, and, with them, a vital injection of talent and competitive instincts...

Author: /time Magazine | Title: The New Capital of Capital | 1/31/2007 | See Source »

Agglomeration applies to labor talent as well. In a survey of international financial services execs published in 2005 by Z/Yen, a London consultancy, almost a third of those polled rated the availability of skilled labor in Paris and Frankfurt as poor. Three-quarters thought London's was excellent. Hourly productivity among the U.K.'s financial-services workers is estimated to have climbed 3.6% per year between 1997 and 2001, according to a 2005 report, well above the 2% growth in the British economy as a whole over that period. No doubt, London's captains of capital are handsomely paid...

Author: /time Magazine | Title: The New Capital of Capital | 1/31/2007 | See Source »

...That's not the end to London's advantages. Not only does London have a "deep pool of talent," says William J. Mills, ceo of Citigroup's Corporate and Investment Banking division for Europe, the Middle East and Africa. But compared with its Continental rivals, it offers "the most flexible labor laws." While the number of financial-sector staff in London rose 4.3% to 318,000 between 2002 and 2005, tough U.S. immigration rules applying to foreign talent helped New York's head count slide by 0.7% over the same period, according to a report published late last month...

Author: /time Magazine | Title: The New Capital of Capital | 1/31/2007 | See Source »

...league that has been carried thus far by young talent rather than veteran experience, Harvard’s leaders emphasize that Crimson can’t afford to take any game for granted...

Author: By Emily W. Cunningham, CRIMSON STAFF WRITER | Title: Future Remains Open as Crimson Travels to N.Y. | 1/31/2007 | See Source »

...know that they have good drivers and that we’ve got to stop the drive and give lots of help,” co-captain Christiana Lackner said of Cornell. “But we know we have talent and that we match up well, so we just have to come out strong like we know...

Author: By Emily W. Cunningham, CRIMSON STAFF WRITER | Title: Future Remains Open as Crimson Travels to N.Y. | 1/31/2007 | See Source »

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