'We saw significantly higher numbers of high quality people we wanted to recruit turning down our offers. We were losing people who were crucial to the future of the investment bank in an extremely competitive environment'.
Barclays faces a barrage of shareholder anger over excessive pay following another troubling year for the bank.
JPMorgan CEO Jamie Dimon’s total compensation tumbled 37% to $11.8m in 2013, regulatory filings released on Wednesday reveal, as the largest U.S. bank by assets grappled with a myriad of regulatory headaches.
Morgan Stanley almost doubled Chief Executive Officer James Gorman’s pay to $18m, the most in his four years leading the firm.
Asia-focused bank Standard Chartered paid 118 of its bankers at least $1.4m last year, topped by a $9.5m payout to Mike Rees, head of its wholesale or investment banking division.
It was a long wait.
Nice work if you can get it.
Wells Fargo, which reported more profit than any other U.S. bank in 2013, left CEO John Stumpf’s annual compensation unchanged at $19.3m.
Barclays paid 12 senior executives about $53m in bonuses as it prepares to eliminate jobs this year.
Societe Generale will seek shareholder permission to pay bonuses amounting to twice bankers’ salaries after the European Union imposed caps on variable compensation.