This year's payouts leave something to be desired (like 10% of their money).
Citigroup Inc. this week slashed the pool of bonus money set aside for the bank’s fixed-income and equities traders, reflecting the division’s surprisingly weak performance in the final weeks of 2014, people familiar with the matter said. Citi’s trader bonuses will drop, on average, by 5% to 10% from a year ago, the people said. Citi had previously planned to leave its bonus pool unchanged from early 2014’s payouts, they said. On Wednesday, Citi’s co-president James Forese delivered the news to his trading executives that the securities arm’s December results were worse than expected, and the shortfall would come out their employees’ annual bonuses, the people said.