bonuses

  • 26 Feb 2014 at 10:45 AM

Bonus Watch ’14: RBS

Employees of the royalest bank in the UK should expect lower bonuses for 2013, but they will have the opportunity to serve tea and haul feta for customers free of charge, so things even out. Read more »

Bank of America mortgage servicers, not so much. Read more »

  • 24 Feb 2014 at 4:23 PM

Bonus Watch ’14: HSBC Has A Plan

They’ll be upping everyone’s “allowance” to compensate the EU’s so-called “bonus caps.” Read more »

  • 21 Feb 2014 at 10:30 AM

Bonus Watch ’14: Citi CEOs

Mike Corbat scored himself a nice little raise. Read more »

Advisers at the Barclays Wealth & Investment Management division in the Americas will no longer get paid solely on how much money they bring in. Going forward, their compensation could be docked for misconduct…Barclays advisers will receive about half of their pay in the form of a monthly payment; the other half will be paid out every three months, according to people familiar with the new arrangement. While both payments will be based on a production formula similar to that at other firms, the quarterly payment also takes into account values-based criteria that include professional conduct and customer complaints. Poor performance in these areas could lead to a reduced payout. Mr. Lee said the new pay model was “well received.” But Andrew Parish, managing director at Axiom Consulting Group LLC, says he has fielded calls from at least 10 Barclays advisers in New York, Los Angeles and Chicago, among other places, since they learned of the new arrangement late last year. So far, none has decided to move elsewhere, he said. [WSJ]

Unlike Antony Jenkins, the rest of Team Barclays will be accepting bonuses this year, thanks. Read more »

  • 04 Feb 2014 at 9:15 AM

Bonus Watch ’14: Bank of America

Bank of America’s got good news if you’re a managing director in Europe and less good news if you’re a rates trader in Charlotte. 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 »