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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 [...]
Things you may not know about this year’s Nomura bonuses
Nomura announces its bonuses after everyone else. When all other bank have put bonus announcements behind them and are getting on with the year, Nomura is breaking the bad and good news to the inhabitants of St. Martin’s Le-Grand (where we understand there to be, incidentally, not only bee hives but also vegetable beds). In [...]
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 [...]
Lunchtime Links: Pay for Carlyle’s Limited Partners fell 68% in the first quarter; SocGen declined to grant voluntary redundancy to 70% of its applicants
As we observed earlier this week, private equity pay isn’t what it used to be and Guy Hands has been obliged to put his hand into his own pocket to make amends. Nevertheless, you might have thought that Carlyle’s partners would be doing ok. And yet it appears they’re not. Carlyle released its first ever [...]
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 [...]
Late Lunchtime Links: Possible bad bonus news for Nomura’s EMEA bankers – there are plans to hire a lot of expensive people in the US
Nomura’s investment bank was profitable last quarter. After making a loss for three of the four quarters of 2012, it swung to a profit of $157m. For 2012 as a whole, Nomura’s investment bank made a loss of $472m. Needless to say, Nomura’s cutting costs. Its detailed headcount chart shows it’s cut 339 people in [...]
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 [...]
Fund management is a far more lucrative career than investment banking. And, fund managers are actually hiring
When it became apparent earlier this week that the highest paid director at Pimco Europe earned twice as much as Jamie Dimon for 2011, it raised a few eyebrows (or at least should have done). Suddenly, fund management appears far better remunerated than investment banking. Pimco’s high earner was not an exception. The company’s latest [...]
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, [...]
Lunchtime Links: The problems with Bob’s bonus
Bob Diamond has conceded. He may not get quite such a big bonus. Henceforth, Bob will be linking half his long term bonus awards, paid out over the next three years, to performance. Specifically, during that time BarCap’s return on equity must equal its return on equity. If that doesn’t happen, £1.35m of Bob’s £17.5m [...]
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