Bonuses down by 60%
LONDON - London-based foreign exchange traders at tier I banks suffered bonus reductions of 60% on average, according to research by London-based recruitment company Napier Scott released today (April 6).
The annual global survey of around 4,000 front-office bankers bore even worse news for forex staff at tier II banks, where remuneration collapsed by 77% from managing directors through to associates.
Shaun Springer, chief executive at Napier Scott in London, said the drops in compensation
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