bonuses

  • 28 Feb 2013 at 12:15 PM
  • Banks

Bonus Watch ’14: EU Banks Will Be Mildly Inconvenienced

By

OH GOSH LET’S GET REAL ANGRY ABOUT THE EU BONUS CAP, which is moving forward and would limit bankers’ bonuses to 1x base salary, or 2x with shareholder approval. It is super dumb.1 England hates it, what with having a functioning banking industry and all. Bankers hate it, being bankers.2 This guy thinks it makes total sense, being a Belgian lawmaker for the Green Party:

“If I have to judge from the reaction of the [banking] industry, this will impact them. And this will also impact the overall amount of remuneration,” said Philippe Lamberts, a Belgian lawmaker for the Green Party who was one of the leading negotiators for Parliament. “I think it will really hit them.”

Feel free to vent in the comments, you’ve earned it. But this Lex column strikes me as the only worthwhile thing to say about it: Read more »

  • 26 Feb 2013 at 4:29 PM

Who Got More of Their Fired Colleagues’ Bonus Money?

By Jon Shazar

Congratulations: You’ve survived. Or, you haven’t and are still bitterly reading a Wall Street blog. No matter. The first group of you may be 1,000 members fewer this year, but you’ll be $20 billion richer by the time the last bonus checks go out. Read more »

  • 25 Feb 2013 at 2:41 PM

Bonus/Layoffs Watch ’13: UBS

By

Both are expected to go down shortly. Read more »

  • 21 Feb 2013 at 12:56 PM

Bonus Watch ’13: UBS

By

…employees will get their bonus numbers when management feels like giving them their bonus numbers! Read more »

  • 19 Feb 2013 at 5:58 PM

Bonus Watch ’13: Brian Moynihan Gets A Raise

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Time was, being Chief Executive Officer of Bank of America was a thankless job that involved being mocked by Stephen Schwarzman, engaging in hand-to-hand combat, and generally feeling as though one’s ass was being kicked on a daily basis. It may still be a thankless job that involves all those things but now it comes with a little extra cash to make B-Moy feel better about himself/the prank calls that he knows are coming from Blackstone. Read more »

  • 19 Feb 2013 at 2:00 PM

Former Goldman Sachs Trader Suggests Your Spouse Won’t Notice How Bad Your Bonus Was If You Walk Around The House Flashing That Huge Wad of One Dollar Bills

By

Sixty-percent of the time it works every time. Read more »

  • 14 Feb 2013 at 3:58 PM

Bonus Watch ’13: Won’t Anyone Think Of Strippers?

By

Clawbacks, deferred compensation, layoffs timed to occur days before bonuses are paid, not to mention lectures re: not buying clients a couple dozen lap dances because it’s a day ending in ‘y’ hurt them too, y’know. Read more »

  • 11 Feb 2013 at 3:49 PM

Bonus Watch ’13: RBS’s Chairman Doesn’t Give A Baker’s Fuck If Parliament Thinks His CEO Is Overpaid

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Philip Hampton isn’t going to go so far as to say Stephen Hester earned it but he is going to just put it out there that other bank CEOs get paid a lot more.  So if you think about it, Hester is barely making enough money to put food on the table. Relatively speaking. Read more »

  • 08 Feb 2013 at 4:52 PM

Bank Of England Committee Member Proposes Deferring Decades For A Decade

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Bankers’ bonuses should be deferred for as long as 10 years to hold executives accountable for risks, said Robert Jenkins, a member of a Bank of England committee charged with ensuring financial stability. “Five years might or might not be appropriate for some categories of risk, but if we are going to rely on remuneration as a key driver of financial stability then it should probably be between five or ten years,” Jenkins said in an interview yesterday in Washington. “Ten years would capture the majority of risk cycles and therefore the gains and losses that came from any risk that was taken today.” [Bloomberg, related-ish]

  • 08 Feb 2013 at 2:04 PM

Bonus Watch ’13: Barclays Managing Directors Have Something To Look Forward To In 2016

By

If you like delayed gratification you’ll love the payment plan management has come up with. Read more »

  • 05 Feb 2013 at 1:47 PM

Bonus Watch ’13: UBS

By

The Swiss bank will reportedly announce today that it’s going to be doing things a little differently around here re: compensation. One, deferrals will start at $250,000 and two, rather than being paid in UBS stock, the non-cash portion of 6,500 senior employees’ bonuses will come in the form of subordinated debt that can and will be wiped out in the event the amount of capital on hand falls below the level required by EU regulators, putting the onus on everyone to make sure no one pulls an Adoboli (and avoids multi-billion dollar fuck-ups in general). Half-Adobolis only moving forward, please. Read more »