48 articles found within the last year.
Displaying results 1 - 20
-
Broker's World: McCann's UBS may look different over time
UBS is beginning to untangle a strategic direction ... His challenges are to quickly stanch client money ... Over the past year, the other major brokerages ... "We all know [McCann] has to have a ... In an internal memo sent to brokers Monday, ... In the memo, he announced his new management...
-
Swiss regulator won't cap bank, insurer bonuses
Swiss banks and insurers will have to ensure ... New regulations that come into effect on January ... The publication of the new guidelines follows months ... Though only one Swiss bank, UBS, needed to ... The regulator said it "didn't accede to the ... Under the new regulation, bonuses must be treated...
-
Big banks' pay on course to top $200bn
JP Morgan Chase added a further $7.3bn (€4.9bn) ... Group compensation expenses at JP Morgan Chase rose ... Compensation rose despite a drop of 20%, or ... The combined first-half figure of $130bn is what ... According to the latest available figures, Bank of ... US investment bank Lazard has awarded the least,...
-
Ex-Lehman Europe bankers claim $100m in lost pay
Nine former European bankers at Lehman Brothers are ... Filings lodged last month with Lehman Brothers Holdings’ ... They include: former co-chief executives of investment banking ... All the bankers cite deferred compensation or restricted ... The claims come as regulators around the world...
-
Asset managers set to slash bonuses - again
Asset managers around the world are set to ... Most asset managers will cut variable pay by ... A minority of respondents, consisting of the best-performing ... Richard Parkhouse, managing director at the company, said: ... The survey took data from 18 fund houses ... Reductions to bonus payouts on that scale would...
-
Bankers go offshore in search of bonuses
Nothing concentrates the mind better when you seek ... It may not be an ideal way of ... Last week Barclays confirmed that 45 staff led ... The bank has given away the right to ... As regards the team involved, Protium 45 sounds ... It so happens that Keeley is skilled in ... News of last week’s Barclays shuffle follows the...
-
Pandit says $100m is too much for a banker
Citigroup chief executive Vikram Pandit said $100m (€68.1m) ... Pandit's comment came in response to a question ... Hall's compensation has become a political minefield for ... Citigroup is considering a spin-off of Phibro so ... While Citigroup employees need to be paid competitively,...
-
Bonus fever continues among UK bankers
Most bankers based in the UK expect their ... The findings suggest that bonus season will show ... "It is clear we are still only part-way ... The taxpayer funds used to assist some of ... Prime Minister Gordon Brown has pledged to curb ... The eFinancialCareers.com survey provided an early indication that...
-
Comment: Banker bashing goes into overdrive
To judge by the way politicians and regulators ... Chancellor Alistair Darling took an early lead in ... Treasury minister Lord Paul Myners wants shareholders to ... UK heavyweight contestant, Prime Minister Gordon Brown tends ... Impressive stuff. Even French president Nicholas Sarkozy, frequently...
-
Bonuses become a wedge issue in the G20
Bankers' pay has become one of the most ... UK Chancellor Alistair Darling earlier this month pledged ... Even before Tuesday's deal with banks, the French ... "The problem with guidelines is that you apply ... Germany has mostly agreed with France at G20 ... But Merkel has allied herself with French President...
-
Sarkozy, banks set new limits on bonuses
French banks agreed to penalise traders who lose ... The remuneration rules were unveiled after a meeting ... To ensure banks stick to the new criteria, ... "It can't be a game where you always ... He said he would lobby the US and ... He would likely face strong resistance in the...
-
RBS defends executives' big share rewards
Royal Bank of Scotland on Wednesday defended its ... An RBS spokesman said the stock awards to ... The 70% state-owned bank is trying to turn ... Hartzer's rewards for joining RBS include 1.99 million ... The shares in both instances will be vested ... Bostock is to receive 1.33 million shares currently...
-
Bank chiefs with most to lose lost the most
New academic research claims bank compensation schemes should ... Rüdiger Fahlenbrach, Swiss Finance Institute, Ecole Polytechnique Fédérale ... They compared the relation between executive incentives and ... - 20 chief executives had shares worth more ... - the largest equity positions were held by...
-
Banks ramp up pay packages to top talent
Some big banks that have received government bailouts ... Bank of America recently hired a top bond ... The offers come in the wake of an ... "The state is helping these banks stay in ... Bank of America's offer shows how some banks ... While those firms still have some latitude over...
-
HSBC chief criticises 'guaranteed bonus' culture
HSBC’s chief executive has railed against the return ... Speaking at the Euromoney award dinner last night, ... Geoghegan said banks needed to ensure staff were ... He said: “We run on a philosophy that ... Speaking last month, HSBC chairman Stephen Green offered ... Geoghegan’s speech to an audience of more than...
-
Beware the Wall Street salary monster
On Wall Street, bonuses are out, bigger salaries ... JP Morgan Chase is the latest bank to ... Deal Journal asked Kerry Sulkowicz, a clinical professor ... Deal Journal: Is it a good idea to ... Kerry Sulkowicz: It seems like a transparent way ... DJ: How should Wall Street try to retain...
-
Guest Comment: Millionaires to enjoy post-dotcom-style rebound
The World Wealth Report from Merrill Lynch and ... Elsewhere, the number of high net worth individuals ... However, there are plenty of reasons to expect ... A protracted weakness in the global economic or ... The comeback will materialise out of a recovery ... On a regional basis, there will be some...
-
FTSE bosses' pay rises as shareholders and workers lose out
The pay packages of the UK's 100 top ... In terms of relationship breakdown between big companies ... According to the voting agency Manifest, the average ... In the same period, average UK earnings went ... During 2008, three-quarters of chief executives received a ... Anger at perceived "rewards for failure" and board...
-
Compensation consultant predicts pay boost for traders
Bankers working in equity and fixed income will ... According to compensation consultants Johnson Associates, equities and ... However, it said the improvement in market conditions ... Nevertheless, Johnson Associates' sample of seven major investment ... In contrast, its analysis of eight public asset...
-
On a lighter note...‘I’d rather work for free than peanuts’
Financial News reported yesterday that some laid-off financiers ... Dan Ariely of the Massachusetts Institute of Technology, ... The $500,000 figure refers to the maximum compensation ... Ariley was applying conclusions of a research paper ... Their conclusion: “When it was done for nothing,...
