Top Firm's HR Said Red-Faced Over Salaries
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But spare a thought for the staff over at Bank of America who, according to Dealbreaker, went online and were elated to discover that their base salaries had more than doubled! The staff later found out, however, that due to what it thought to have been a minor systems error on the part of a service provider, their new salary was actually added to their old salary by mistake. It just had to be too good to be true!
In the meantime, The Financial Times reports that Royal Bank of Scotland CEO Stephen Hester has confirmed that 'we lost hundreds of people in the last few months in Global Banking & Markets', and some went as they were concerned over the possibility of government interference in the 70% taxpayer-owned bank.
And can you believe that bankers are already turning their attentions to 2009 bonuses ? After an average decline in the numbers of 50% last year, the smart money says that bonus pots will fall, on average, an additional 15% this year.
Spare a thought, too, for former RBS CEO Fred Goodwin. According to various media reports, Fred tried to become a member at the prestigious Royal & Ancient Golf Club (St Andrews). But some of the existing membership are said not to have been too chuffed at the prospect of sharing the links with the former banker, who is thought to have now withdrawn his name.
Finally, HSBC confirmed Monday that its Global Banking & Markets business delivered record first-quarter results, on the back of strong FX and fixed income trading. The bank said that the momentum also continued into April.
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