Year-end compensation for workers in the financial industry will fall up to 10 percent.» Read More
"Without knowing why or how, we seem to have hatched our own oligarchs, and we stand aghast and bewildered at this flock of monstrous cuckoos," author Ferdinand Mount writes.
Shareholders in Barclays have forced the British bank to accept tougher bonus conditions and promise higher dividends, highlighting how the balance of power between investors and managers is shifting at some of the biggest global banks, the FT reports.
CNBC's Kate Kelly reports that Paulson & Company is slashing the key incentive level for employee bonuses.
The Lloyds Banking Group bankers forced to pay back some of their bonus payments are unlikely to be the last bankers made to repay remuneration, as claw-backs become increasingly popular.
David Cameron has called for a truce in the battle over bank bonuses in an attempt to repair fractured relations with the City and draw a line under weeks of public acrimony. The FT reports.
Bonuses, which first caused widespread consternation in the wake of the collapse of Lehman Brothers, have come to the forefront of the debate in Europe again in recent months.
Stephen Hester has revealed that the dramatic restructuring of Royal Bank of Scotland has cost 38 billion pounds ($60.5 billion) in a rallying memo to staff days after the embattled chief executive waived a 1 million pounds bonus, the Financial Times reports.
UBS just released some dismal bonus pool numbers.
On Sunday, the public outrage at Stephen Hester’s bonus persuaded the Royal Bank of Scotland chief executive to turn down a pay award ($1.57 million) that would be considered miserly by other bank bosses in the UK and the US, the Financial Times reports.
Huge pay packages such as retention deals and bonuses for incoming, current, and even exiting CEOs have critics calling corporate boards "tone deaf," USA Today reports.
It's bonus day at Goldman Sachs. And it's "really ugly," according to one Goldman employee.
David Cameron’s pledge to curb executive pay and stop “rewards for failure” is set to face its biggest test, as Royal Bank of Scotland prepares to offer a bonus of more than £1 million ($1.54 million) to its chief executive, even though the state-controlled bank’s share price has almost halved in a year, the Financial Times reports.
Morgan Stanley anticipates many of its employees may choose to leave the firm following the announcement that cash bonuses above $125,000 would be deferred until next year.
Is Wall Street cutting bonuses enough? That is a question worth considering amid chatter that investment banking bonuses are expected to be the lowest they have been since 2008 amid lackluster profits.
Things that come in little blue boxes: priceless.
Employees of MF Global's British offices may have received their quarterly bonuses last Monday, just hours before MF Global filed for chapter 11 bankruptcy in New York, The Telegraph is reporting.
Did the bonus system on Wall Street cause the financial crisis? Are bonuses still putting our financial system at risk?
As the days grow shorter, Wall Street brokers, bankers and traders typically begin to anticipate their bank accounts growing fatter.
Britain’s banks will face an annual bill of as much as £6 billion ($9.5 billion) to comply with the reforms of the Vickers Commission, according to the panel’s final report, published on Monday. The FT reports.
As Wall Street cuts bonuses and raises base salaries instead, banks are looking at layoffs more often to cut costs when profits fall.