State Street's Avinash Persaud says that the chart actually understates the importance of equity flows to currency movements.
Peter Garnry, head of equity strategy at Saxo Bank, said: "Facebook's technology deals are often not hinged on cash flows but more on controlling a competitor that could ultimately pose a great threat to Facebook's dominance and market value.
"It's ugly, but it's orderly," said Matt DeSalvo, head of equity sales trading at Credit Suisse.
As Natasha Lamb, head of equity research at Arjuna, puts it, "Shareholder value is at stake.
The origination desk will now have equity and fixed-income origination under Tyler Dickson, its former head of equity capital markets.
The summary also named Philippe Baboulin, the bank's head of equity finance, and Luc François, a co-head of the equities and derivatives department.
"Worse is yet to come," said Conita Hung, head of equity research of Delta Asia Financial Group.
"This big buyback is concrete and real," said Owen Fitzpatrick, head of equity trading at Deutsche Bank Private Wealth Management.
Jon Anda, Morgan Stanley's head of equity, and Walid Chammah, head of debt capital markets, will co-manage the combined unit.
Mark Hantho has joined Banc of America Securities as a managing director and global head of equity capital markets.
