Barclays investment bankers face ‘double-digit’ cut to bonus pool January 24, 2020 Barclays investment bankers are reportedly facing a double-digit fall in their bonus pool for 2019, as chief executive Jes Stanley pushes for the lender to meet profitability targets amid growing pressure from an activist investor. Barclays Investment Bank reported a strong third-quarter performance with a 41 per cent jump in net profit. But the division’s [...]
DEBATE: Could bringing back bonuses help make pay fairer? January 10, 2020 Could bringing back performance-based bonuses help make pay fairer? YES, says Giles Gibbons, chief executive of Good Business, an ethical strategy consultancy. News this week that FTSE 100 bosses earn a typical worker’s wage in just 33 hours angered people across the UK — something has to change. And counter-intuitive as it may seem, bringing [...]
Executive pay: FTSE 100 bosses miss out on bonus boost September 6, 2015 More than a third of FTSE 100 chief executives missed out on pay rises this year, according to a PwC report out today. This is up from a quarter of bosses whose pay did not get a lift in 2014. Of those who received a boost, the average increase was three per cent, taking [...]
Why the finance sector is still the place for bonuses – despite a decline in payouts August 26, 2015 Finance sector workers are being paid billions less in bonuses than they were before the 2008 financial crisis, figures by the Office for National Statistics showed this morning. Total bonus payments in finance and insurance reached £13.6bn in the year to April, £5bn less than their pre-recession peak. Economy wide bonuses are just 0.1 per cent [...]
Persimmon bosses to share in £600m payout under long-term bonus scheme August 23, 2015 The bosses of Britain’s largest housebuilder Persimmon are in line for a potential £600m-plus windfall after a bumper year fuelled by the housing market recovery. More than 130 of the group’s senior management are expected to share in the award in December as part of a long-term incentive scheme launched three years ago. In total, [...]
Poundland’s bosses fail to get bonuses August 14, 2015 BOSSES at UK discount retailer Poundland did not receive a bonus for 2015, despite both sales and profits at the company improving last year. Poundland’s annual report said the bonus payments were “self-funding” and “as such, this year’s underlying profit after tax achievement of £33.95m did not trigger payment of bonuses to colleagues.” The company’s [...]
Why everyone should stop panicking about Berkeley Group boss Tony Pidgley’s £23m bonus August 11, 2015 Yesterday’s revelation that Tony Pidgley – founder, chairman and general grandfather figure at housebuilding giant Berkeley Group – is about to net himself £23m-odd in bonus payouts has created something of a storm. There’s no denying it’s a vast sum: it puts Pidgley above Wayne Rooney in the pay scale, making him the second [...]
New FCA and PRA bonus clawback rules: The UK now has the toughest bank pay rules in the world June 23, 2015 New rules to claw back bankers’ bonuses for up to 10 years threaten to undermine London’s appeal to international financiers, consultants warned yesterday, in the latest salvo against big banks from UK regulators. Read more: Bank bonus clawback extended to 10 years by UK regulators The clawback rules comes amid growing tensions between [...]
Clawback extended to 10 years as UK regulators Prudential Regulation Authority and Financial Conduct Authority mull negative bonuses June 23, 2015 Bonuses could be clawed back for as long as a decade under new rules published by City regulators today. The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) confirmed they were pushing ahead with rules for a wider seven-year claw-back period but that an added three years is being considered for senior managers. [...]
City watchdogs expected to curb restrictions on bonus buy-outs June 22, 2015 Regulators will bow to City warnings that new pay rules threaten to undermine the UK’s competitiveness when they unveil proposals to change the way bonuses are treated when bankers quit their jobs to join a rival firm. The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) are expected to announce today that they have [...]