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...A top European Central Bank official wants to give risk managers more power to keep banker bonuses in check, just as senior industry executives are calling for Europe to follow the UK in loosening restrictions...
...The UK has other rules on pay, including requiring a percentage of bonuses to be paid out over a number of years, and allowing bonuses to be clawed back in cases of misconduct, poor individual performance...
...In 2023 Oliver Wyman estimates gross profits or margin — the amount made on trades before deducting costs such as tax, salaries and bonuses — hit $105bn, down about 30 per cent year on year, but still about...
...Bankers in Europe receive less of their income in bonuses because of the EU cap on variable pay....
...Deutsche Bank slashed cash bonuses of senior executives by up to 50 per cent in the wake of a botched IT project that caused chaos for German retail clients and attracted a rebuke from banking watchdog BaFin...
...Barclays awarded smaller bonuses in 2023 and gave its chief executive a smaller pay package, as the UK bank sought to revamp its strategy and galvanise its share price....
...Bankers’ bonuses in Asia have been plunging. But not for Noel Quinn. Total pay for the HSBC chief executive nearly doubled to £10.6mn ($13.4mn) in 2023....
...Virgin Money UK is raising the performance targets that underpin its executive bonuses, following complaints from shareholders that the benchmarks were too low....
...“The cap on bankers’ bonuses was bought in in the aftermath of the global financial crisis and that was the right thing to do to rebuild the public finances,” she told the BBC....
...Read more about Goldman Sachs bonuses here....
...Goldman Sachs is planning to increase bonuses in its trading business despite revenues in the division falling this year, according to people familiar with the matter, after a mis-step on pay last year sparked...
...Some of the details around trading bonuses were reported earlier by Bloomberg....
...However, not all lawyers will receive market rate bonuses....
...All that said, bonuses don’t carry quite the same make-or-break financial importance that they used to....
...The UK will on Tuesday confirm that it is scrapping caps on banker bonuses as part of its post-Brexit bid to boost the City of London, according to people familiar with the situation....
...Under the Labour policy, the government would have been able to block six out of nine water bosses’ bonuses last year due to high levels of pollution, the party claimed....
...Wall Street bonuses, meanwhile, are expected to fall 25 per cent this year, amid a lull in dealmaking....
...On Wall Street, the majority of employees’ pay typically comes from year-end bonuses that ebb and flow with companies’ profits....
...New teachers of “key subjects” will receive tax-free bonuses of up to £30,000 over the first five years of their careers in order to attract more people to the sector and retain them, Rishi Sunak promised...
...Excluding bonuses, annual growth slowed from 6.2 per cent to 6.1 per cent....
...Wall Street bonuses fell slightly last year to an average of $176,000 per worker, their lowest level in four years, as elevated interest rates and a lack of deals weighed on financial industry profits....
...One of Australia’s largest banks has warned its staff that they could be paid lower bonuses unless they spend half of their work hours in the office....
...Nike has tied executive bonuses to improving diversity, equity and inclusion (DEI) among its employees. Mars was also applauded by Galvanize....
...Following some strong financial results at my company, my salary — including bonuses — is a little over £150,000 for the first time....
...Rishi Sunak is being haunted by the spectre of Trussism The government will abolish a 2014 rule limiting bonuses to twice base pay for employees of banks, building societies and investment companies, as...
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