Royal Bank of Scotland has lost at least six senior debt traders and salesmen in the past month to rival firms as the British lender shrinks its investment bank and faces political pressure to reduce bonuses.
A powerful incentive.
Goldman Sachs is looking to sell its New York Stock Exchange market-making unit to a Dutch investment firm, as computers replace traders who once dominated the business at the corner of Wall and Broad streets.
Here's the top 15 from Forbes list of the highest earning hedge fund managers and traders in 2013.
Three Barclays Libor traders in New York were notified by U.K. prosecutors that they may be charged for allegedly manipulating the interest-rate benchmark, according to two people with knowledge of the situation.
Bank of England officials told currency traders it wasn’t improper to share impending customer orders with counterparts at other firms, a practice at the heart of a widening probe into alleged market manipulation, according to a person who has seen notes turned over to regulators.
Global investigations into alleged currency market manipulation intensified on Wednesday as U.S. regulators descended on Citigroup's London offices and Deutsche Bank suspended several traders in New York, sources told Reuters.
U.K. traders who’ve come under investigation for rigging benchmark rates may find themselves in another difficult situation - unable to find a good lawyer.
Some of the world's biggest banks have banned traders from using chat rooms following a series of allegations related to fixing rates.
Compensation for Wall Street’s equities salesmen and traders is expected to rise in 2013, while total pay for employees in fixed-income units may drop 10%, according to recruitment firm Options Group.