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Bonus Watch ’14: Société Générale

The French aren’t too worried about your so-called bonus caps.

France’s No. 2 listed bank, Societe Generale, said it will ask shareholders for permission to pay some staff bonuses worth up to double their salaries, in accordance with the European Union cap on bonuses. SocGen disclosed on Monday a 299.8 million-euro compensation pool in 2013 for management, traders and employees whose activities have a material impact on the risk profile of the bank…From next year bankers’ bonuses in the 28-country EU can be no higher than their salaries or twice that amount if a bank’s shareholders give their approval.

SocGen seeks to pay bankers bonuses up to double their salaries [Reuters]

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3 Responses to “Bonus Watch ’14: Société Générale”

  1. Guest says:

    Word has it that if you don't like your bonus, they are making you walk it off to forget about it.

  2. Archer says:

    Double of zero is still zero, so hopefully the shareholders can wrap their heads around it.