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Banks Seek Bonus Alternatives
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Banks in the UK are considering giving investment bankers allowances to make up for lower bonuses mandated by new EU rules. This is one of the mechanisms banks are considering to be able to pay competitively. EU rules do not limit total compensation making it possible to shift pay given earlier as bonuses to the new 'allowance' category. For instance a 1.8 million euro bonus might be dropped to 1 million euros and 800,000 euros given as an allowance. Such an arrangement means banks can adjust the allowance as markets and regulations change. Increasing fixed salary would mean effects such as higher pension costs. Most of the 35,000 higher level banking employees to which the EU rules apply work in London, England. The UK Prudential Regulation Authority has come out against the EU bonus rule and the UK has taken this up in a legal challenge at the European Court of Justice. U.S. and Asian banks are deferring parts of bonuses and paying in a mix of shares and cash.
Monthly allowances for UK investment bankers to make up for lower bonuses under EU rules
02/04/2009
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Wall Street Journal 10/31/2013
Wall Street Bonuses Are an Outrage
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U.K. Bankers to Wait Seven Years for Bonuses
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The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
British Regulators Extend Clawback Rules for Bankers’ Pay
New York Times 06/23/2015
Bonuses and executive compensation in the U.S.- 2010-2013
02/04/2009
Grouped Articles
SEC Wants Boss-Employee Pay Gap on Display
Wall Street Journal 09/19/2013
Wall Street Journal 10/31/2013
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
A.I.G. Planning Huge Bonuses After $170 Billion Bailout
New York Times 03/15/2009
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
U.S. Seeks to Defer Portion of Bonuses
Wall Street Journal 02/05/2011
Britain's actions against bank bonuses.
02/04/2009
Alistair Darling announced immediately effective step of taxing bank bonus pools with a 50% tax.
Grouped Articles
Wall Street Journal 10/31/2013
Royal Bank of Scotland to Slash Costs as Losses Deepen
Wall Street Journal 02/28/2014
Bailed-Out Royal Bank of Scotland Sees Years of Losses
New York Times 02/27/2014
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
In U.K., Getting Tough With Nationalized Banks
Wall Street Journal 02/09/2009
U.K. Bankers to Wait Seven Years for Bonuses
Wall Street Journal 06/24/2015
The Barclays investigation and executive bonuses
07/10/2012
Grouped Articles
SEC Wants Boss-Employee Pay Gap on Display
Wall Street Journal 09/19/2013
Wall Street Journal 10/31/2013
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
Wall Street Journal 07/11/2012
Parliament Questions Culture at Barclays
New York Times 07/10/2012
Once Stodgy World of London Banking Loses its Old School Ways
New York Times 07/13/2012
UK banks- bonuses and tax levy
02/04/2009
Grouped Articles
Wall Street Journal 10/31/2013
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
U.K. Bankers to Wait Seven Years for Bonuses
Wall Street Journal 06/24/2015
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
British Regulators Extend Clawback Rules for Bankers’ Pay
New York Times 06/23/2015
Banks in U.K. Hit With Higher Tax
Wall Street Journal 02/09/2011
France's action against bank bonuses.
02/04/2009
Grouped Articles
Wall Street Journal 10/31/2013
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
U.K. Bankers to Wait Seven Years for Bonuses
Wall Street Journal 06/24/2015
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
British Regulators Extend Clawback Rules for Bankers’ Pay
New York Times 06/23/2015
France Joins U.K. Bonus Tax; Not Germany, U.S.
Wall Street Journal 12/11/2009
Shareholder opposition to excessive bank pay and bonuses in 2012-2013
02/04/2009
Grouped Articles
Wall Street Journal 10/31/2013
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
U.K. Bankers to Wait Seven Years for Bonuses
Wall Street Journal 06/24/2015
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
British Regulators Extend Clawback Rules for Bankers’ Pay
New York Times 06/23/2015
New Rules Curbing Wall Street Pay Proposed
Wall Street Journal 04/22/2016
The bad side of incentive based executive compensation
12/31/2008
Executive pay and bonuses are paid based on incentives to produce good performance. But the parameters that measure performance such as share price can be manipulated resulting in a perverse sytem that incentivizes bad decisions costly to the company even while executives are earning large or grossly disproportionate pay and bonuses. This happened at Merrill Lynch, Citigroup and other financial firms that collapsed or reached the brink of collapse.
Grouped Articles
SEC Wants Boss-Employee Pay Gap on Display
Wall Street Journal 09/19/2013
S.E.C. Proposes Greater Disclosure on Pay for CEO's
New York Times 09/18/2013
Wall Street Journal 10/31/2013
The 'Market' Isn't So Wise After All
Wall Street Journal 12/31/2008
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
Does Golden Pay for the CEOs Sink Stocks?
Wall Street Journal 12/26/2009
Bonuses and executive compensation in EU countries
12/15/2010
Grouped Articles
SEC Wants Boss-Employee Pay Gap on Display
Wall Street Journal 09/19/2013
Wall Street Journal 10/31/2013
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
Ireland Orders Allied Irish to Hold Bonuses
Wall Street Journal 12/15/2010
U.S. Considers New Push on Bank Pay
Wall Street Journal 12/19/2010
UBS Makes Bid to Increase Bonus Pool
Wall Street Journal 02/04/2011
Britain leads the way in requiring more liquidity at banks and in getting agreement to limit bonuses.
02/04/2009
Grouped Articles
Wall Street Journal 10/31/2013
Royal Bank of Scotland to Slash Costs as Losses Deepen
Wall Street Journal 02/28/2014
Bailed-Out Royal Bank of Scotland Sees Years of Losses
New York Times 02/27/2014
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
In U.K., Getting Tough With Nationalized Banks
Wall Street Journal 02/09/2009
U.K. Bankers to Wait Seven Years for Bonuses
Wall Street Journal 06/24/2015
Executive compensation and bonuses in the UK: 2010-2013
02/04/2009
Grouped Articles
SEC Wants Boss-Employee Pay Gap on Display
Wall Street Journal 09/19/2013
Wall Street Journal 10/31/2013
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
Wall Street Journal 01/10/2011
On Street, Pay Vaults to Record Altitude
Wall Street Journal 02/02/2011
The Swiss Minder Initiative to restrict excessive executive pay and bonus
02/04/2009
The Minder Initiative to restrict excessive executive pay and bonuses gets the support of a large majority of Swiss voters in Feb. 2013. 68% of Swiss voters supported the 24 item Minder Initiative. Swiss voters were influenced by the 72 million franc exit package for Daniel Vassela which was cancelled after popular uproar, the signing package for Axel Weber, new chief at UBS bank, and the clear policy to restrict executive bonus and pay announced by the EU in Feb 2013. The austerity measures after banking crises in Spain, UK, Italy, and other European countries are also influencing public opinion.
Grouped Articles
SEC Wants Boss-Employee Pay Gap on Display
Wall Street Journal 09/19/2013
S.E.C. Proposes Greater Disclosure on Pay for CEO's
New York Times 09/18/2013
Wall Street Journal 10/31/2013
Swiss Politicians Push for Stricter Bank Capital Rules
Wall Street Journal 11/04/2013
Swiss Voters Reject High-Pay Initiative
Wall Street Journal 11/24/2013
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
EU rules in 2013 for limiting excessive executive compensation and bonuses
02/04/2009
Grouped Articles
SEC Wants Boss-Employee Pay Gap on Display
Wall Street Journal 09/19/2013
Wall Street Journal 10/31/2013
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
Wall Street Journal 03/12/2013
Germany's action against bank bonuses.
02/04/2009
Eleven financial institutions agree to voluntarily limit bonuses.
Grouped Articles
Wall Street Journal 10/31/2013
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
U.K. Bankers to Wait Seven Years for Bonuses
Wall Street Journal 06/24/2015
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
British Regulators Extend Clawback Rules for Bankers’ Pay
New York Times 06/23/2015
Wall Street Journal 12/11/2009
The European Union leaders insistence on pay curbs to prevent reckless risk taking 2011-2012
02/04/2009
Sarkozy of France and Merkel of Germany insist that pay curbs for bankers be high on the agenda for the G20 meeting in Pittsburgh. They are particularly riled by the huge bonuses bankers are taking in the midst of the continuing financial crisis.
Grouped Articles
Wall Street Journal 10/31/2013
Royal Bank of Scotland to Slash Costs as Losses Deepen
Wall Street Journal 02/28/2014
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
U.K. Bankers to Wait Seven Years for Bonuses
Wall Street Journal 06/24/2015
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
British Regulators Extend Clawback Rules for Bankers’ Pay
New York Times 06/23/2015
Swiss bank UBS and cuts in bonuses for 2011
01/15/2010
Grouped Articles
Former UBS Official Is Arrested in Tax Probe
Wall Street Journal 10/21/2013
Wall Street Journal 10/31/2013
Swiss Voters Reject High-Pay Initiative
Wall Street Journal 11/24/2013
U.K. Bankers to Wait Seven Years for Bonuses
Wall Street Journal 06/24/2015
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
UBS Will Slice 60% From Bonuses As Net Sinks 76%
Wall Street Journal 02/08/2012
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