Bankers think bonuses will break records

DESPITE protests from politicians and taxpayers against multi-million pound payouts, bankers expect this year&rsquo;s bonus payments to break records, according to a new poll.<br /><br />One in ten executives expect their best ever payout this year while the majority of traders, analysts and fund managers believe their bonus will either increase or not change.<br /><br />And despite having experienced the biggest economic decline since the 1930s, only one in four bankers expect a fall in their bonus payout, the survey from Bloomberg found.<br /><br />In September, leaders of the Group of 20 nations approved guidelines for financial firms calling for deferred bonuses for senior executives. The guidelines also permitted pay to be clawed back if a company had losses later.<br /><br />But more than half of financial services workers believe restrictions on pay will stifle innovation while only 38 per cent think pay limits will control excessive risk-taking, the poll found.<br /><br />The results reflect the improved business climate for financial companies following last year&rsquo;s banking meltdown. Profits at larger banks, Goldman Sachs and JPMorgan Chase have soared this year.<br /><br />In the global survey, Asians were the most optimistic about pay while Europeans and Americans were less so.<br /><br />Some 39 per cent of Asians were expecting a fatter bonus this year compared to 33 per cent of Europeans and 30 per cent of Americans.<br /><br />Meanwhile, in a separate survey from Bloomberg, New York and Singapore were found to have eclipsed London as the leading global financial centres.<br /><br />Twenty-nine per cent of respondents in the quarterly pool of investors, traders and analysts said New York will be the best place for financial services two years from now.