Babak "Bobby" Yazdani, who founded Saba in 1997 and resigned as chief executive in March 2013, was not charged with misconduct over the scheme, which involved falsified time-sheets by consultants at an Indian subsidiary, the SEC said.» Read More
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.
Chief executives of FTSE 100 companies saw their median earnings soar 32 percent to £3.5 million last year, prompting complaints that rewards are out of line with share prices and employees’ pay.
The FT reports future bonus and dividend payments by UK banks will depend upon convincing regulators the handouts will not dent capital reserves or undermine sound risk management, according to the head of the city watchdog.
Britain’s banks will argue that they are subject to some of the world’s toughest rules on bonuses and that tougher transparency rules could undermine the UK’s competitiveness. The FT reports.
Ten years ago, when the hedge fund industry was much smaller than it is today, it took 25 hedge fund managers to earn a combined annual payday of $5 billion. Last year, it took only one, the New York Times reports.
Royal Bank of Scotland has awarded chief executive Stephen Hester £4.45 million of shares in a new long-term incentive package, bringing his total pay for 2010 at the state-backed bank to a maximum of £7.75 million.
You want another sign that we're in a new financial bubble? Here you go: drunk traders bragging about bonuses and buying ridiculous toys.
Delays in the announcement of the bonuses at UBS were not due to executives' unhappiness about the size of the bonus pool, UBS CEO Oswald Gruebel told CNBC Tuesday.