FI
Merrill Lynch International made an operating loss of $268m last year, increased headcount 30%, and paid its average employee $488k
Merrill Lynch International, the London-based business of what was once known as Merrill Lynch before it was subsumed into Bank of America, has released its results for the year to December 2011. They show some considerable hiring. Merrill Lynch International started the year with 2,600 people and ended it with 3,390 – an increase of [...]
Last week, the CEBR predicted bonuses will fall 48%. This week, a renowned pay consultant says they’ll rise
Alan Johnson, the Wall Street pay consultant who works with numerous Wall Street banks, and Credit Suisse has produced his first set of bonus predictions for 2012. Given his exposure to actual banks, you’d think Johnson knows what he’s talking about. This is good, because he thinks bonuses will increase in 2012. Johnson thinks FICC professionals [...]
By 2014 London salaries at Goldman Sachs may be £2m, salaries at Citi may be £1.5m, salaries at Barclays £650k and salaries at Deutsche £550k
Starting at 4.30pm today, the EU Parliament’s Monetary Affairs Committee will debate and then vote upon the proposal that banking bonuses should be restricted to no more than 100% of banking salaries. By all accounts, they’re likely to vote in favour of the move. Members of the Monetary Affairs Committe include various prominent socialists: You [...]
11 of the 24 people getting payouts of €500k+ from the Commerzbank case don’t seem to be working now
Commerzbank is paying out. Some people stand to make a lot of money. As per the list we previously published from Financial News, this is who they are, what they were doing at Commerz/Dresdner and what they appear to be doing now. According to the FSA register, 11 of the people due six figure payouts [...]
Handelsbanken is spending more on its investment banking staff, but bonuses are still being cut back
For a bank that prides itself on conservatism, Handelsbanken is displaying some adventurous characteristics. Firstly, there’s its UK expansion – it intends to add a new branch there every eight days after strong revenue growth. Then there’s its capital markets business, where cost income ratios are starting to look worryingly high. Revenues within Handelsbanken’s capital markets [...]
First quarter pay hierarchy suggests American banks still pay more. Generally, they also pay a LOT more cash
Now that we know how much JPMorgan, Goldman Sachs, UBS, Credit Suisse and Deutsche have accrued for their investment bankers in the first quarter, we can say two things. 1. American banks pay more (with the exception of Deutsche, whose pay per head figures for the corporate and investment bank aren’t comparable because, unlike elsewhere, [...]
Eight ways in which the Europe Union would like to curtail investment banking pay more heavily, soon
Despite the fact that the European Union already has the most punitive investment banking pay restrictions in the world, machinations are afoot in the European Parliament to make the restrictions even more punitive still. Yesterday, the European Banking Authority (EBA) released a large document based on a survey of the remuneration policies of banks in [...]
SEB employs more women than men, bonuses are shrinking and other reflections on its annual report
Like many European banks, SEB is being more open with the political hot potato of compensation, and it’s revealed that bonuses are starting to tumble. SEB’s annual general meeting was yesterday, along with the publication of its annual report. It’s keen to point out that bonuses are becoming less of a feature of its [...]
While BarCap is capping cash bonuses at £65k, persons at Credit Suisse can earn £346k in cash this year
Where would you rather work? Somewhere at which your cash bonus will be restricted to £65k, fin d’histoire, or somewhere where you can earn £346k in clean cash? BarCap has the initial, unappealing, compensation structure. Credit Suisse has the second. BarCap’s nastiness may be somewhat mitigated by the fact that half its deferred bonuses appear [...]
This very detailed compensation survey for corporate finance, equity research and sales, suggests the only place people got paid more for 2011 was…Moscow
Do you work in equity research, equity sales or corporate finance? Within corporate finance, do you work in mining and metals, oil/gas/energy/utilities, alternatives/renewables/biotech, or FIG, telecoms/media/technology, infrastructure/property/transport? Are you in a similar sector team in research? Do you want to know precisely how much you should have earned last year? Search firm BBM has some [...]
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