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Banks, Bonuses and Capitalism – Full text of letter published in the London Times Tuesday 31st Jan 2012

Tweet  Banks, Bonuses and Capitalism The concept of the bonus is the problem, not its size. It fosters lazy management, indiscriminate sales, bad salesmanship and is irreducibly divisive; hostile to teamwork and destructive of team spirit. The bonus is based upon a cynical contempt for people: that they can only be motivated by greed and cannot take [...]
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A Credit Suisse Managing Director Leaves After A Dispute Over His Team's Bonus Pool

Business & Finance : Business Insider: Clusterstock (2 years ago)

Jan. 7 (Bloomberg) -- Steve Oplinger, co-head of U.S. high- yield sales for Credit Suisse Group AG, left Switzerland’s second-biggest bank amid a disagreement over his group’s compensation, two people briefed on the matter said. Opl... Read Post

Banks To Increase Base Salaries By Under Three Percent In 2015: Survey

Business & Finance : Business Insider: Clusterstock (17 hours ago)

LONDON (Reuters) - Global banks expect to increase base salaries by less than 3 percent this year and most are not planning to overhaul their pay structure in the face of tougher European Union rules on bonuses, a survey reported on... Read Post

Bank Of America Is Cutting Its Trader Bonus Pool Up To 10%

Business & Finance : Business Insider: Clusterstock (11 hours ago)

It's starting to look like a pretty dismal bonus season on Wall Street with trading revenue down across the board. Bloomberg News is now reporting that Bank of America, the second-largest US bank, is cutting its bonus pool for equit... Read Post

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