The Firm Spy is working hard to improve the quality and the quantity of its Investment Bank gossip.

To this end, we welcomed the following anonymous tip received on the weekend:

Macquarie Capital has just done a round of redundancies for this years graduates after the six month probabtion cut-off. One team cut their entire graduate intake for 2009.

This rumoured summary redundancy of graduates is a particularly harsh form of treatment in the prevailing GFC environment where investment bank jobs are scarce. If the above rumour is true, prospective Macquarie graduates should consider whether job security counts for more than the appearance of Macquarie Bank on the CV.

We wish the purportedly redundant grads the best of luck in finding new jobs.

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Two Maquarie Group advisers have been the subject of a successful injunction application by their former employer to interdict the flow of confidential corporate information to their new employer UBS, according to the Australian Financial Review. In yet another blow to UBS Australia, the company has employed two people whose potential revenue streams and workflows appear considerably lower than first thought.

As reported in the Review, the Supreme Court of New South Wales has granted an injunction in favour of Macquarie ordering Mark Minchin and Peter Simpson to provide to Macquaries lawyers within 7 days:

‘a memores ultra travel drive, any Sony storage media device and any Kingston USB device … [as well as] any personal computer belonging to either defendant.’

In addition, both defendants have been ordered not to work at UBS on client accounts which are the subject of the dispute. This begs the question; in the midst of the same financial crisis which caused UBS to sack graduates and cancel bonuses, what will Minchin and Simpson do?  Comments, theories and gossip welcome!