Risk and reputation

As the post-bonus season's departures get under way, our regular In the City column asks whether we see evidence of a deepening fear of reputation risk at the top banks?

This is traditionally the time of year when the hiring and firing merry-go-round turns faster as bonus cheques are cleared, and individuals decide whether or not they want to knuckle down for another year.

This year is particularly interesting for the credit market as decisions taken now reflect the impact of the last year's volatility in the structured credit market. Several houses have hit the headlines because of the departure of their structured credit professionals. In the City has learned