bonuses or lack thereof

deebsalebIn 2010, Deeb Salem was employed as a mortgage trader at Goldman Sachs, despite numerous attempts by rivals to poach him and his self-described Michael Jordan-esque skills. He told his mother, who was living with him at the time, that he expected to be paid a $13 million bonus. So when it turned out he only received $8.25 million, you can imagine how incensed Deeb must have been. Not only had GS management made him look like a liar, it failed to keep up its end of the unspoken agreement re: not disappointing the mothers of Goldman Sachs employees. Refusing to let Goldman get away with such an unspeakable act, Salem sued the bank, demanding it cough up the extra $5 million he believed he was owed. Sadly, last September, a judge dealt Salem a bit of a setback in his quest to recover the money but if anyone thought that was going to stop him from ultimately making good on his promise to the woman who gave him life, he/she thought wrong! Read more »

Remember Deeb Salem? Goldman Sachs alum who worked at the firm as a mortgage trader for a number of years, despite numerous attempts by rivals to poach him and his self-described Michael Jordan-esque skills? Thought he was going to get paid $13 million in 2010 and told his mom to expect as much, only to be informed the number was more like $8.25 million? Sued the bank for the extra $5 million, demanding it make good on the promise he’d made to woman who’d give him life? He recently got some not great news. Read more »

  • 31 Jul 2014 at 12:36 PM

Clawback Watch ’22: Britain’s Banks

If you’re a banker working across the pond, get your underhanded schemes out of the way now, because come 2015, they’re going to start counting against you (and will continue counting against you vis-a-vis bonuses through 2022). Read more »

You’ll get yours in due time, provided your record turns up clean/you didn’t do any favors for any big boys. Read more »

  • 03 Feb 2014 at 1:52 PM

No Bonus For Me, Thanks: Barclays CEO

Reuters reports that for the second year in a row, Barclays Chief Executive Officer Antony Jenkins has turned down the bonus offered to him. This time around, he said that it would be inappropriate to take the money, in light of “the bank’s hefty bill to pay for past problems.” All of this probably comes as a surprise to another CEO, whose name shall not be mentioned, who thought they agreed to put up a united front re: bonus accepting in the face of legal fees, be they Libor, whale, mortgage, or alternate side parking ticket-related, and who at this moment is angrily dictating an email thanking Jenkins for making him look like a Grade A Jackass. Read more »

Andrew Kearns: I was fired on the false claim I have a problem with alcohol. Glencore: We can’t risk having an employee who might come back to the office 10-sheets to the wind, face-plant into his keyboard, and accidentally buy 700.1333333333 million barrels of crude oil. Read more »

  • 18 Mar 2013 at 3:42 PM
  • bonuses

Bonus Watch ’13: Man Group

Nothing to see here. Read more »

The Big C apologizes if anyone was under the impression it’d be paying out bonuses and severance. Happy holidays and stay in touch. Read more »