UK
Tag: Banking bonuses
Big change to small bonuses at Nomura
Nomura’s bonuses have now been announced. The bank isn’t commenting on its payments, but headhunters in London say the numbers were revealed earlier this week. There has apparently been some disappointment, and it seems that some interesting changes have been made. Headhunters said Nomura has reduced its deferral period. As we suggested a few weeks […]
How to make liars and cheaters work hard on your behalf
Human beings are not as nice as some people would like to assume. A new academic paper points out that people are mostly out to maximize their own gains, and that this causes serious problems for employers who are trying to get all the liars and cheaters to work for them instead. Ivar Ekland, a mathematician at […]
Late Lunchtime Links: The EU bonus cap will be delayed until July 2014, and may be illegal
Good news: the EU bonus cap will not be implemented until July 2014 at the earliest (thereby missing the 2013 bonus round). Better news: it may also be illegal. The Financial Times reports that the implementation date for the EU’s restrictions on bonuses has been pushed back from January 2014 to July 2014 in response […]
Late Links: Barclays cut bonuses far more harshly than RBS following Libor scandal
Sky News reported today that Barclays will punishing its bankers harshly for their involvement in the Libor scandal. Barclays’ UK and US Libor fines total £291m, but the bank will be cutting its bonus pool by £450m in response to the Libor affair, said Sky. Barclays’ move looks particularly harsh compared to other banks implicated in Libor […]
Late Links: Ominous indication that bonuses could fall 90%
The European Union wants to cap bonuses as a percentage of salaries. It may not need to bother: market forces could do the job instead. In the past 27 years, the average bonus per head on Wall Street has risen 90% according to figures released today by the New York State Comptroller (see below). According […]
The UK’s desperate attempts to negate the EU bonus rules
As ever, last week’s discussions on the European Union’s proposed changes to banking bonus rules failed to produce anything conclusive. This was the 33rd such ‘trialogue’ on the subject according to Sven Giegold, a German Member of the European Parliament (MEP) who has participated in the talks. None of the previous trialogues came to anything. Maybe […]
Fears that investment banking bonus pool has been halved at UBS
Despite releasing some detailed information about this year’s remuneration policy over two weeks ago, UBS has yet to tell its investment bankers the size of their bonuses. The big day is March 6. In the meantime, harsh rumours are circulating suggesting that the bonus pool for the Swiss banks investment banking division will be slashed […]
Late Lunchtime Links: It will be 2014 before the EU imposes its cap on banking bonuses
The European Union is progressing, slowly, towards a cap on bonuses. At one point last year, it looked like the bonus cap would come into effect early in 2013 and cause problems for the 2012 bonus round. This didn’t happen. Today Reuters reports that the putative cap won’t come into force until January 2014 – […]
Barclays is deferring 100% of ALL bonuses over £250k
Tomorrow is Barclays’ bonus day. Today, bad news has emerged with regards to the structure of Barclays’ bonuses. Sky News reports that Barclays will be deferring 100% of bonuses for managing directors (MDs) in its investment bank. Barclays’ MDs will receive no cash bonuses at all during 2013. Barclays declined to comment on the allegations. […]
Top ranked equity researchers receive negligible bonuses
Getting ranked as a top equity research analyst isn’t what it once was. In Institutional Investor’s European rankings release this week, Deutsche Bank’s research team captured more top slots than any other bank. Trouble is, many were unhappy; a lot were poorly paid, including those who were ranked highly by Institutional Investor, according to headhunters. […]
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