Stock Market News

Wall Street bankers to see bonuses shrink as dealmaking sputters — Bloomberg Law


FILE PHOTO: The Goldman Sachs company logo is on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 13, 2021. REUTERS/Brendan McDermid/File Photo

 

BAC
-1.29%

Add to/Remove from Watchlist

Add to Watchlist

Add Position

Position added successfully to:

Please name your holdings portfolio

Type:

BUY
SELL

Date:

 

Amount:

Price

Point Value:


Leverage:

1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000

Commission:


 

Create New Watchlist
Create

Create a new holdings portfolio
Add
Create

+ Add another position
Close

GS
-0.84%

Add to/Remove from Watchlist

Add to Watchlist

Add Position

Position added successfully to:

Please name your holdings portfolio

Type:

BUY
SELL

Date:

 

Amount:

Price

Point Value:


Leverage:

1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000

Commission:


 

Create New Watchlist
Create

Create a new holdings portfolio
Add
Create

+ Add another position
Close

JPM
-0.79%

Add to/Remove from Watchlist

Add to Watchlist

Add Position

Position added successfully to:

Please name your holdings portfolio

Type:

BUY
SELL

Date:

 

Amount:

Price

Point Value:


Leverage:

1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000

Commission:


 

Create New Watchlist
Create

Create a new holdings portfolio
Add
Create

+ Add another position
Close

C
-1.13%

Add to/Remove from Watchlist

Add to Watchlist

Add Position

Position added successfully to:

Please name your holdings portfolio

Type:

BUY
SELL

Date:

 

Amount:

Price

Point Value:


Leverage:

1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000

Commission:


 

Create New Watchlist
Create

Create a new holdings portfolio
Add
Create

+ Add another position
Close

(Reuters) -Wall Street banks are weighing plans to slash bonuses this year, Bloomberg Law reported on Friday, as investment banking comes under pressure from choppy markets and a high interest-rate environment.

Citigroup Inc (NYSE:C) and Bank of America Corp (NYSE:BAC) are considering cutting bonus pools by as much as 30%, the report said, citing people with knowledge of the internal deliberations.

JPMorgan Chase (NYSE:JPM) and Co, the biggest U.S. bank by assets, is also planning bonus cuts, a source familiar with the matter told Reuters.

Compensation and performance discussions typically begin in December as senior executives give indications about overall bonus pools that will be negotiated and finalized toward year-end.

Investment banks have been hit by a plunge in dealmaking activity this year as torrid markets and aggressive rate hikes by the Federal Reserve have forced lenders to pull back from financing large deals.

Goldman Sachs Group Inc (NYSE:GS) is also planning to shrink the year-end bonuses for traders at its global markets unit by a low double-digit percentage, a separate report from Bloomberg News earlier on Friday said, citing people with knowledge of the discussions.

Citigroup and Bank of America declined to comment on the matter, while JPMorgan and Goldman Sachs did not respond to Reuters requests for comment.

Source

Похожие статьи

Добавить комментарий

Ваш адрес email не будет опубликован. Обязательные поля помечены *

Кнопка «Наверх»