Top Firm Looks At Paying Bonuses Over More Than One Year
More in BUSINESS NEWS
back-up- 'Their Staff...Were Making A Lot More (Than Ours). That Won't Last'
- The So-Called 'Greedy' Lehman Bonus E-Mail
- Support Staff Need Not Wait To Get Their Reward
- CenterFuld - Lehman Boss In The Dock
- The 2008 Best CTO / CIO Poll - First League Table
- M&A - Top Dogs Around The World
- An Oldie, But Goodie During These Difficult Times
- Richard Fuld's Statement To The Congressional Committee (In Full)
- Citi Sues Over Wachovia - For $60bn!
- Fear Not, There Are Jobs Out There
- Featured Recruiter - Martin Ward Anderson
- If Your Firm Was A Monopoly Property.....
- Click Here To Register For Free News E-Mail Alerts
- 'Never Mind Your Bonus' - The First Here Is The City Book
- Layoffs - The Definitive Job Loss League Table (The Very Latest)
- Top Firm Accused Of Bringing Down Lehman
- Top Boss Says Bonuses Will Be 'Solid', But 'Smaller'
- Hedge Fund Makes Single $2.5bn Winning Trade
- 'This Was As Cogent A Case Of Murder As Might Be Imagined'
- 'This Hodge-Podge Of Regulations...(Will) Put Many (Banks) Off Participating'
- Wacha-Gotcha-Notcha-ovia - Bun Fight For Wachovia
- Top Worldwide M&A Legal Advisors - Year To Date
- Citigroup Threatens Legal Action Over Wachovia (Citi Statement)
- Wells Fargo Press Release On The Wachovia 'Acquisition'
- Owed Money By Lehman, & Are Struggling To Find Out What's Going On ?
- Out Of A Job, Out Of Pocket & Out For Blood
- 'In The Land Of The Laid-Off, The Hiring Firm Is King'
- UBS Confirms 2,000 Job Losses / Closure Of Commodities Unit
- A Wall Street Funny
- Worldwide M&A League Table - Year To Date
- Super Hedge Fund Manager Continues To Defy The Odds
- Fuld, Thain, BNP, SocGen, Morgan Stanley, Raymond James, Shorts
- 'My Firm Will Never Fire Me. I'm Untouchable!'
- 'I Felt Sick When I Saw Them Taking Down The Lehman Signage'
- More Writedowns Expected, Hedge Funds Suffer
- 'We Need A Reality Check'
- 'There Is Only One End To The World, And This Isn't It'
- Top Firm Said Close To Cutting 1,900 Jobs
- 'Masters Of The Universe' Should Give Back Their Bonuses
- Bank Makes Paper Loss Of $506m On Morgan Stanley On First Day
- Citi Acquires Wachovia Units
- Unemployment, Depression & Suicide - Bankers In Crisis
- 'During This Difficult Conversation With Me, He (Dick Fuld) Cried'
- Fortis Rescued, As Parts Of ABN Will Be Sold Again
- And The Financial Markets Institution Of The Year Is....
- Investment Banking Is Just Like Marriage - Divorce Is Painful
- Citi's Board Said To Be Considering Big Acquisition
- Statement By US Treasury Secretary 'Hank' Paulson
- Some Of Your Views On Recent Events
- 'At Worse, As In The Depression, The Economy Collapses'
Related Content
- Top Firm Lost $1bn On Investment Top Execs Knew Nothing About (07/09/2008)
- Top Boss Says Bonuses Will Be 'Solid', But 'Smaller' (05/10/2008)
- Top Firm Says 'Enough' - No More Layoffs (03/08/2008)
- Top Firm Really On The Ropes Now (20/08/2008)
- Report - These 3 Top Firms Could Have Gone Belly Up This Year (05/09/2008)
- Top Firm May Need To 'Lop Off Two Limbs' (29/07/2008)
Governments, regulators, shareholder groups and Uncle Tom Cobbly and all have been having their say in recent months, insisting that investment banks can encourage their employees to take a more long term view on the impact of their actions if they simply paid employee bonuses over a period longer than 12 months.
Merrill Lynch CEO John Thain, of course, has drawn a line in the sand and said that he will change his firm's bonus culture so that (like Goldman Sachs), bankers are paid out on the performance of the overall firm first, then their division or team and, finally, their own performance. Other firms like Citi and UBS Investment Bank are thought to be looking at doing something similar, and many more firms reduced the cash limit for bonuses in 2007, paying more of bankers' bonuses by way of deferred equity.
The Financial Times has now reported that Deutsche Bank CEO Josef Ackermann has confirmed that his bank is looking at the viability of paying bonuses over multi-years. The newspaper says that Ackermann said earlier this week that a 'multi-year' bonus scheme is under consideration, but that it will only be introduced if the bank felt that such a scheme wouldn't effect Deutsche's ability to compete with rivals, hedge funds and buy-off firms for top staff. A spokesperson for Deutsche Bank said that Ackermann 'wants to make it clear that we are looking at this seriously'.
Please use the 'E-Mail' button immediately under the article title to send this item to a friend.
