Daily Dispatches: Advice for Goldman Sachs aspirants; DBS Private Bank hires yet again from a Chinese firm

An ode from Bloomberg’s editors to Greg Smith, the former Goldman Sachs executive director, who left the firm in a very public manner: “We have some advice for Smith, as well as the thousands of college students who apply to work at Goldman Sachs each year: If you want to dedicate your life to serving humanity, do not go to work for Goldman Sachs. That’s not its function, and it never will be. Go to work for Goldman Sachs if you wish to work hard and get paid more than you deserve even so.” (Bloomberg)

The firm also tries to contain the fallout from Smith’s 1,270-word denunciation. (The Wall Street Journal)

DBS Private Bank sets up a new team headed up by Peter Triggs, formerly from Bank of China (Suisse). It’s the second time this year DBS has hired a senior banker from a mainland firm. (AsianInvestor )

Wu Yidian Eden, a Standard Chartered private banker has been detained by police in China. A client of hers had allegedly fled with as much as US$50m from the Agricultural Bank of China.(Bloomberg)

Employment prospects in Hong Kong are the weakest since 2009, according to a survey by Manpower. (The Wall Street Journal)