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According to a recent online article in The Guardian, the City is set to see bigger bonuses this year after a two-year slump. The rise in dealmaking and the end of the interest rate hike cycle are expected to boost compensation, particularly for those at major firms like JP Morgan, Goldman Sachs, and Deutsche Bank. The abolition of the banker bonus cap in the UK further enhances the positive outlook for top earners in the sector. As we look forward to 2024, the future appears bright for investment banking professionals. Read the full article to learn more. 👉 https://lnkd.in/eg2dmasa #InvestmentBanking #BankerBonuses #FinancialServices

🌟 Exciting news for London investment bankers! According to The Guardian, after a two-year slump, it's anticipated that bonuses are set to increase. This welcome development is a testament to the resilience of the industry. #InvestmentBanking #LondonFinance #EconomicRecovery https://ift.tt/Pn8Mj4k

Academics question logic behind higher pay for talent retention, as further pay votes are set for AGMs later this month. HSBC’s decision to scrap a cap on bankers’ bonuses at last week’s AGM could open the floodgates for rising executive pay, further aggravating investor concerns around fair pay. The vote to remove the cap received 99.3% shareholder support, allowing the bank to set a new limit for bonus and significantly increase payouts. HSBC paid its top investment bankers an estimated average bonus of US$771,700 last year, while median employee pay at the bank sits at £63,000 (US$79,000). “It’s reflective of the general direction of travel with senior management pay in the UK,” Lindsey Stewart, Director of Investment Stewardship Research at Morningstar, told ESG Investor. “There’s a conviction, certainly among companies, boards and management, that higher pay has to be part of the equation for talent attraction and retention.” Before the meeting, Stewart suggested the vote would “likely become a focal point for the UK’s conversation on executive pay”. Overall trend Under the previous legal cap, an employee’s bonus could not exceed 100% of their annual pay, or 200% with shareholder approval. These limits were scrapped from 31 October 2023 by then-Chancellor Kwasi Kwarteng’s mini budget. Similar votes are due to take place at Barclays’ AGM on 9 May and Lloyds’ on 16 May. Beyond the UK, proxy advisor Glass Lewis has urged Morgan Stanley shareholders to vote against an executive pay proposal at its AGM on 23 May. “The overall trend is going to be preserved,” said Stewart. “With HSBC is having approved this, it’s unlikely that we’ll see a rejection of those decisions at Lloyds or Barclays.” Last week, Goldman Sachs removed its bonus cap for UK bankers, meaning they can now earn more than the previous limit of double their base pay. The decision was criticised by British trade unions. The median pay for S&P 500 chief executives rose 9% to US$15.7 million in the year to April 15, increasing the gap between top management salaries in the US and UK. UK executives have complained they are underpaid compared to US peers, with several warning of a talent exodus without more competitive pay. Last year, London Stock Exchange CEO Julia Hoggett warned that higher pay salaries were needed in the upper reaches of UK firms to retain listings and secure talent. “The incentive point is at the core of it,” Stewart explained. “There has been some concern among company management on whether the pay quantum and structure in the UK is sufficient for them to compete in a mobile international market for talent. “It complicates the landscape for UK asset owners that have for some time been concerned about the growing gap between the pay of senior executives – particularly CEOs – and the wider workforce.” However, a letter sent to the Financial Times earlier this week argued that UK executive pay levels lo

Academics question logic behind higher pay for talent retention, as further pay votes are set for AGMs later this month. HSBC’s decision to scrap a cap on bankers’ bonuses at last week’s AGM could open the floodgates for rising executive pay, further aggravating investor concerns around fair pay. The vote to remove the cap received 99.3% shareholder support, allowing the bank to set a new limit for bonus and significantly increase payouts. HSBC paid its top investment bankers an estimated average bonus of US$771,700 last year, while median employee pay at the bank sits at £63,000 (US$79,000). “It’s reflective of the general direction of travel with senior management pay in the UK,” Lindsey Stewart, Director of Investment Stewardship Research at Morningstar, told ESG Investor. “There’s a conviction, certainly among companies, boards and management, that higher pay has to be part of the equation for talent attraction and retention.” Before the meeting, Stewart suggested the vote would “likely become a focal point for the UK’s conversation on executive pay”. Overall trend Under the previous legal cap, an employee’s bonus could not exceed 100% of their annual pay, or 200% with shareholder approval. These limits were scrapped from 31 October 2023 by then-Chancellor Kwasi Kwarteng’s mini budget. Similar votes are due to take place at Barclays’ AGM on 9 May and Lloyds’ on 16 May. Beyond the UK, proxy advisor Glass Lewis has urged Morgan Stanley shareholders to vote against an executive pay proposal at its AGM on 23 May. “The overall trend is going to be preserved,” said Stewart. “With HSBC is having approved this, it’s unlikely that we’ll see a rejection of those decisions at Lloyds or Barclays.” Last week, Goldman Sachs removed its bonus cap for UK bankers, meaning they can now earn more than the previous limit of double their base pay. The decision was criticised by British trade unions. The median pay for S&P 500 chief executives rose 9% to US$15.7 million in the year to April 15, increasing the gap between top management salaries in the US and UK. UK executives have complained they are underpaid compared to US peers, with several warning of a talent exodus without more competitive pay. Last year, London Stock Exchange CEO Julia Hoggett warned that higher pay salaries were needed in the upper reaches of UK firms to retain listings and secure talent. “The incentive point is at the core of it,” Stewart explained. “There has been some concern among company management on whether the pay quantum and structure in the UK is sufficient for them to compete in a mobile international market for talent. “It complicates the landscape for UK asset owners that have for some time been concerned about the growing gap between the pay of senior executives – particularly CEOs – and the wider workforce.” However, a letter sent to the Financial Times earlier this week argued that UK executive pay levels lo

Academics question the logic behind higher pay for talent retention, as further pay votes are set for AGMs later this month. HSBC’s decision to scrap a cap on bankers’ bonuses at last week’s AGM could open the floodgates for rising executive pay, further aggravating investor concerns around fair pay. The vote to remove the cap received 99.3% shareholder support, allowing the bank to set a new limit for bonus and significantly increase payouts. HSBC paid its top investment bankers an estimated average bonus of US$771,700 last year, while median employee pay at the bank sits at £63,000 (US$79,000). “It’s reflective of the general direction of travel with senior management pay in the UK,” Lindsey Stewart, Director of Investment Stewardship Research at Morningstar, told ESG Investor. “There’s a conviction, certainly among companies, boards and management, that higher pay has to be part of the equation for talent attraction and retention.” Before the meeting, Stewart suggested the vote would “likely become a focal point for the UK’s conversation on executive pay”. Overall trend Under the previous legal cap, an employee’s bonus could not exceed 100% of their annual pay, or 200% with shareholder approval. These limits were scrapped from 31 October 2023 by then-Chancellor Kwasi Kwarteng’s mini budget. Similar votes are due to take place at Barclays’ AGM on 9 May and Lloyds’ on 16 May. Beyond the UK, proxy advisor Glass Lewis has urged Morgan Stanley shareholders to vote against an executive pay proposal at its AGM on 23 May. “The overall trend is going to be preserved,” said Stewart. “With HSBC is having approved this, it’s unlikely that we’ll see a rejection of those decisions at Lloyds or Barclays.” Last week, Goldman Sachs removed its bonus cap for UK bankers, meaning they can now earn more than the previous limit of double their base pay. The decision was criticised by British trade unions. The median pay for S&P 500 chief executives rose 9% to US$15.7 million in the year to April 15, increasing the gap between top management salaries in the US and UK. UK executives have complained they are underpaid compared to US peers, with several warning of a talent exodus without more competitive pay. Last year, London Stock Exchange CEO Julia Hoggett warned that higher pay salaries were needed in the upper reaches of UK firms to retain listings and secure talent. “The incentive point is at the core of it,” Stewart explained. “There has been some concern among company management on whether the pay quantum and structure in the UK is sufficient for them to compete in a mobile international market for talent. “It complicates the landscape for UK asset owners that have for some time been concerned about the growing gap between the pay of senior executives – particularly CEOs – and the wider workforce.” However, a letter sent to the Financial Times earlier this week argued that UK executive pay level

Exploring the Ripple Effects: Private Equity Trends in the UK and Implications for the US Market I recently came across this insightful article from the Financial Times: "Bank of England warns of risks to UK businesses from private equity bubble." It highlights the Bank of England's concerns over the private equity sector, emphasizing issues like increased leverage, transparency, and the potential for a sharp market correction. Given the interconnectedness of global markets, this got me thinking about the US market. How might similar trends be unfolding here? Are there lessons or cautionary tales that US businesses and investors should heed from the UK's experience? I'm curious to hear your thoughts and perspectives on this. Do you see parallels in the US market? What impacts could these trends have on US businesses, particularly in the private equity sector? Let's discuss. #PrivateEquity #EconomicTrends #USMarket #BusinessInsights

Morgan Stanley to increase bonus for UK bankers currently at 2x limit on fixed pay under the European Union rules.  In late June 2024, JP Morgan announced to increase the variable bonus limit on UK staff from 2x of fixed pay to 10x of fixed pay after Brexit, with a JP Morgan banker with $1 million fixed pay can now earn $10 million in bonus. In 2024 May, Goldman Sachs had increased variable bonus limit on UK staff from 2x of fixed pay to 25x of fixed pay.   Read - https://lnkd.in/g4PwcCrS follow Caproasia | Driving the future of Asia Morgan Stanley has announced to increase bonus for UK bankers currently at 2x limit on fixed pay under the European Union rules.  In late June 2024, JP Morgan announced to increase the variable bonus limit on UK staff from 2x of fixed pay to 10x of fixed pay after Brexit, with a JP Morgan banker with $1 million fixed pay can now earn $10 million in bonus instead of only $2 million in bonus under the European Union rules (no longer applies after Brexit).  European Union (EU) had imposed a limit on variable pay capped at 2x of fixed pay for material-risk takers in 2014. In 2024 May, Goldman Sachs had increased variable bonus limit on UK staff from 2x of fixed pay to 25x of fixed pay.  Morgan Stanley, J.P. Morgan, Goldman Sachs

Morgan Stanley to increase bonus for UK bankers currently at 2x limit on fixed pay under the European Union rules.  In late June 2024, JP Morgan announced to increase the variable bonus limit on UK staff from 2x of fixed pay to 10x of fixed pay after Brexit, with a JP Morgan banker with $1 million fixed pay can now earn $10 million in bonus. In 2024 May, Goldman Sachs had increased variable bonus limit on UK staff from 2x of fixed pay to 25x of fixed pay.   Read - https://lnkd.in/g8UDw36U follow Caproasia | Driving the future of Asia Morgan Stanley has announced to increase bonus for UK bankers currently at 2x limit on fixed pay under the European Union rules.  In late June 2024, JP Morgan announced to increase the variable bonus limit on UK staff from 2x of fixed pay to 10x of fixed pay after Brexit, with a JP Morgan banker with $1 million fixed pay can now earn $10 million in bonus instead of only $2 million in bonus under the European Union rules (no longer applies after Brexit).  European Union (EU) had imposed a limit on variable pay capped at 2x of fixed pay for material-risk takers in 2014. In 2024 May, Goldman Sachs had increased variable bonus limit on UK staff from 2x of fixed pay to 25x of fixed pay.  Morgan Stanley, J.P. Morgan, Goldman Sachs

This brilliant international banker smells the roses with the rich Aussies only You don't know until a company releases their latest half-year results, but banking, securities and investment from this financial global powerhouse is facing a tough market in Australia. Goldman Sachs is one global banker that only wants work from the rich Australians. In that pragmatic view, it is not as if New York headquartered bank Goldman Sachs does not continue to make a big impression in Australia and worldwide. It's just that New York is not Melbourne. New York is not Sydney. New York is not Perth. These are the three Goldman Sachs offices in Australia. So its financial brilliance has to contend with rising interest rates, and breaking in huge investments. Advisory roles are difficult in Aust. when fixed-income is like a death sentence to many rich Australians. The Australian branch for Goldman Sachs and rival J.P. Morgan state they do not "accept deposits from or offer investment products to retail clients in Australia or New Zealand." The Australian general public is only allowed to watch the high-flying acts of Goldman Sachs and J.P. Morgan. To invest in Aust, Goldman Sachs cannot be distracted by the machinations of the Commonwealth. The Labor Australian Government are endeavouring to accrue as many votes as it can in the lead up to a possible late 2024 federal election. A large bid for growth by Labor is on the $15 billion scheme National Reconstruction Fund to rapidly increase the numbers of manufacturing workers through credit/lending, company shares and guarantees, entering into $5 billion Australian investment from Microsoft and touted figures of 180,000 fee-free TAFE and vocational educational places from January 2023. There is significant meaning behind Goldman Sachs' decision not to register as an authorised deposit-taking institution (ADI) in Aust. with the Australian Prudential Regulation Authority (APRA). This international banker has to not hold the belief a regulator in Australia is necessary to oversee their fiscal performance and promises to customers, and so it's a case of 'so there' to the Commonwealth. Goldman Sachs are prepared to not be basking in the glow of a responsible company position according to APRA as found in the Aust. financial services industry. Chair of the Aust. & NZ offices of Goldman Sachs is one-time Liberal Party Treasurer Josh Frydenberg, and his work as senior regional adviser - Asia Pacific has to mean the hunting down of opportunities. Goldman Sachs’ local Chief Executive Simon Rothery is revelling in their subtleties approach. Take over $100 million in funds from a new client and that money is found in the client's shares, bonds, mutual bonds and hard cash. These leaders then re-jig to one fiscal-type act of undertaking educated guesses on the commodities and private wealth market to receive a formal Aust. salute to key superiority. The Australian newspaper picture - Goldman Sachs’ local CEO Simon Rothery

📈 Navigating Through Change: Insights from the UK Economic & Fiscal Outlook 2024 📈 In an era where change is the only constant, our UK Economic & Fiscal Outlook unveils a sector bracing for transformation amidst a fluctuating global economy. Don’t miss insight into: ➡ A banking and financial sector that, while contending with challenges such as Brexit aftermath and pandemic recovery, is making strides towards innovation and sustainability. ➡ The decline in workforce numbers at traditional banking giants such as Barclays and NatWest in contrast with the Phoenix Group's soaring vacancies, highlighting a sector in flux. ➡ The government's injection of £373 billion to mitigate the pandemic's effects underscoring a concerted effort towards economic stabilization. ➡ Strategic fiscal measures aiming to boost the economy, such as tax cuts expected to increase work hours equivalent to over 100,000 full-time employees by 2028-29. This report is a must-read for professionals navigating the complexities of the UK's banking and fiscal landscape, and lays out a roadmap of resilience and adaptability. Request your copy here ➡  https://lnkd.in/gwjRpKv4 #UKEconomy #FiscalOutlook #Banking #Finance #Business