ZA
Lower bonuses, but no mandatory deferrals for SA bankers
City or Wall Street directors who are frustrated with the controversy over banking salaries and bonuses may want to consider a move to South Africa. Not only have SA banks come out of the recession in good shape – largely thanks to tight regulation and conservative lending practices – but SA bankers have escaped much [...]
Global restrictions on banking and bonuses – where’s it’s punitive, where it isn’t (Updated)
In advance of tomorrow’s UK budget, next weekend’s G20 meeting, and the likelihood of further measures to curb banking pay and profitability, here’s a quick roundup of where we are right now in terms of global banking punitive rankings. Notably, the most worst place so far is probably Holland. However, the EU is keen on [...]
Unfortunately for bonuses, 2009 is a difficult act to follow
With the UK coalition government poised to announce measures to ‘tackle unacceptable bonuses’ in today’s Queen’s Speech, banks won’t need much excuse to suppress cash bonuses this year. Their job may be made a little easier by what we understand are the ‘challenging’ budgets that have been set in some product areas. After an unbelievably [...]
THE OUTSIDER: What to do when your bonus is disappointingly small
Tell me it’s a nightmare and that I’m going to wake up soon. This could well be the year when despite brilliant results, nobody gets well paid. Surely not. It seems so unfair. In markets awash with excess liquidity pumped in by those kind fellows from the central banks, and the awfully accommodating taxpayers who [...]
What the G20 said on bonuses (and why it didn’t say much at all)
Pittsburgh has passed, and after a lot of posturing nothing much has happened. There will be no caps on bonuses and no requirement to disclose the names of high earners. Guarantees haven’t been totally outlawed; nor have cash bonuses. Traders may, however, find their lives hampered by new capital requirements and retention bonuses could become [...]
The end of generous share option packages in South Africa
The party seems to be over for bank executives in South Africa. In the last few years, despite a more conservative approach to both salaries and bonuses compared to US or UK banks, South African bank executives have been making what one compensation expert describes as “obscene amounts of money” thanks to share options schemes. [...]
Bankers’ bonuses quietly cut in South Africa
The controversy over bankers’ bonuses shows no sign of abating in Europe. G-20 finance ministers who are grappling with this thorny issue in London this weekend could do worse than looking at the case of South Africa. The country’s banks have not been hit as badly as their US or UK counterparts, thanks to a [...]
Salary increases still the norm in South Africa
The era of big fat bonuses and golden hellos is (at least temporarily) over, in South Africa as well as pretty much everywhere else. But on the salary front the situation is less gloomy. Pay increases are still the norm, according to a new snap survey by Mabili Reward, a management advisory firm, even if [...]
Bank by bank bonus reforms, revised and updated
Several things have changed since we last looked at different banks’ different compensation structures a few weeks ago. Here, therefore, is a new list of banks according to the generosity of their bonus systems. Let us know if you have anything to add. 1). JPMorgan : Despite being a notorious cost cutter, JPMorgan boss Jamie [...]
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