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A retinue of depressing bullet points about investment banking compensation from McLagan, the secretive banking pay specialists
When McLagan speak about investment banking pay, it’s worth taking note. Compensation benchmarking specialists, they work with leading investment banks to help determine whether they’re paying people appropriately. McLagan’s findings are, usually, strictly confidential. Now, however, McLagan has participated in a study with the Association for Financial Markets in Europe. And the results are public. [...]
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 [...]
These are the investment banks that can’t afford their staff. And these are the banks losing share in ECM, DCM and M&A this year
As a follow-up to yesterday’s look at JPMorgan’s deteriorating predictions for investment banking revenues in the second half of this year, we’d like to highlight two further elements of Kian Abouhossein’s latest oeuvre: employee affordability and IBD performance for the year to date. Who’s spending too much on their staff? Abouhossein’s report contains the table [...]
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 [...]
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 [...]
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 [...]
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