Lloyds dips toe in base-salary-only pool
Monday morning’s FT covered this announcement: Lloyds Banking Group has launched a scheme that scraps all incentives linked to product sales in the latest attempt to clean up bad practices that have...
View ArticlePlease no bonuses over 20 per cent of base pay, we’re Dutch
On Monday the centre-right Liberal and centre-left Labour parties in the Netherlands managed to pull together a coalition agreement after 47 days of talks. It contained a limit to the tax deduction on...
View ArticleUBS bonuses go bail-inable
UBS reported a fourth quarter loss of CHF1.2bn — actually CHF1.9bn, when considering Libor fines and other regulatory and legal costs, plus restructuring costs. The loss came in a little lower than the...
View ArticleCap and still trade
Some time ago Brussels decided that capping bankers’ bonuses is going to help prevent another financial crisis. A very fashionable move. In fact, the passage of the Basel reforms was contingent on a...
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Ms Penny Hughes writes…
Probably best to just get on and crowd-source the analysis and commentary on this one: Continue reading: Ms Penny Hughes writes…
View ArticleThe bonus dash beginneth
As the FT reports on Monday, banks in Europe are rushing to redraft executive pay deals in order to comply with recently passed legislation capping bonuses at the amount of fixed pay, or twice that...
View ArticleThe rate exit, Credit Suisse edition
Word reaches us that the Credit Suisse axe will swing on Wednesday, with 50 heads to roll in the rates division as it bears the greatest brunt of cuts to fixed income, credit and commodities trading....
View ArticleBonus envy? Blame Frederic W Cook & Co, perhaps
No, we hadn’t heard of this remuneration consultant either. But Sarah Butcher over at eFinancial Careers alerts us to the fact that Cook & Co advised on designated “risk takers” at Citibank Global...
View ArticleNot all securitisation bankers are evil – some are just slow
This occasional Alphaville contributor just got back from a prolonged reporting stint in Las Vegas. On the agenda was not one but two securitisation conferences. Some readers may recall that the...
View ArticleOn the pluses and minuses of paying employees in non-cash instruments
On Monday Mark Carney, Bank of England governor, injected fear into the hearts of highly paid bankers everywhere by stating… Standards may need to be developed to put non-bonus or fixed pay at risk....
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