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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 [...]
BTG Pactual: A bank that’s hiring and that increased compensation 74% y-on-y in the first quarter
BTG Pactual’s first quarter results came out on Friday. They tell a happy tale. Revenues were not merely up, they were exponentially up. Sales and trading revenues rose 169% year-on-year in the first quarter. In ‘principal investments’ (AKA prop trading), they were up 303%. Overall, BTG’s revenues rose 96% in Q1. Only investment banking, down [...]
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 [...]
Should Handelsbanken think about paring back headcount in capital markets?
Handelsbanken is in the rare position of being the only large Nordic bank increase its headcount throughout 2011. However, costs remain stubbornly high in its investment bank and, if headwinds continue, cuts could be on the cards. The Swedish bank ended 2011 with 11,184 employees, which is an increase of over 330 on the previous [...]
Everything we know so far about bonuses and deferrals, bank-by-bank – UPDATED
Here’s another update to all previous articles on the state of bonuses, cash caps and deferrals on a bank-by-bank basis this year, here’s what we know now. Feel free to email us at Editor@eFinancialCareers.com or to leave a comment if you know additional details that we don’t. Barclays Capital Cash bonus cap? Yes. BarCap is [...]
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