Banks Reduce Bonuses
Published / Last Updated on 14/11/2010
by Ashley Clark, Director
The British Bankers Association is mediating in negotiations between British Banks in connections with bonus limitations in behalf of British Banks.
According to the BBC, these negotiations are highly confidential and of course sensitive given the competitive nature of pay and bonuses in attracting quality staff. The move come as Government looks to tighten is grip on banker pay and bonuses and taxation of the same.
There is concern that US Banks are not playing the same game and not working together to cap bonuses. There is therefore real concern of a ‘brain drain’ as leading bankers head to the US.
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