Tyndall Investment Management dumps its boutique New York-based fixed interest portfolio manager in favour of Goldman Sachs, citing in part fears about the quality of European bond issuance.

The executive craze of 2012 is to lay out heart on your sleeve – and extract a little utu – with a public resignation letter. But as ever, there are two sides to every story.

Goldman Sachs' letter to staff following the public resignation of Greg Smith:

The retirement village operator plans to raise up to $45.5 million in new capital while its major shareholder is reducing its stake.