Missed financial targets at RSA wipe a third off of Stephen Hester’s bonus March 23, 2015 RSA chief executive Stephen Hester has been granted 68 per cent of his potential bonus, with missed financial targets mostly responsible for the loss of nearly one third. Hester’s £939,000 bonus took his total remuneration for 2014 to £2.12m, according to the company’s annual report released yesterday. Hester became embroiled in several pay scandals as [...]
Henderson Group fund managers get bumper bonus March 18, 2015 Staff at investment firm Henderson Group saw their bonus pool increase to £144m after seeing a 22 per cent rise in management fees during 2014. Henderson said the increase in the bonus pool was a reward for strong net flows, investment performance and business performance and marks an 11 per cent rise on last year. [...]
Barclays halves bonus payouts for top executives March 17, 2015 Barclays has slashed the payouts to its top bosses by half, yesterday revealing that the group of executives at the head of the bank received £16.5m in shares for deferred bonuses and new awards. That is a dramatic fall from £31.8m a year earlier, reflecting both the increased crackdown on payouts, and a shift away [...]
Bonus at John Lewis drops on Waitrose sales March 12, 2015 JOHN Lewis Partnership slashed staff bonuses to 11 per cent of pay, the lowest level for 12 years, after profits fell at its grocery chain Waitrose. The partnership’s 93,800 employees will receive a total pay out of £156.2m, which is equivalent to nearly six weeks’ salary. The supermarket price war, a deflationary market and a significantly [...]
John Lewis Partnership slashes bonus as Waitrose profits fall March 12, 2015 The John Lewis Partnership, known for its generous staff incentives, has slashed the bonus payout to its partners after a hit on profits at its upmarket grocery chain Waitrose. Staff will receive a bonus of 11 per cent of their annual salary, down from last year's 15 per cent – the third annual decline in a row. [...]
John Lewis Partnership poised to reduce bonus payout to staff March 9, 2015 THE JOHN Lewis Partnership will this week seek to cut its bonus pot for staff for a second year in a row after the supermarket price war took its toll on sales at its upmarket grocery chain Waitrose. Waitrose has grown sales and market share faster than its traditional supermarket rivals in recent years, thanks [...]
StanChart chops exec bonuses as profits tumble March 4, 2015 OUTGOING Standard Chartered chief Peter Sands is not taking a bonus for 2014, yesterday announcing all board-level execs who served for the full year are losing the payout. Pre-tax profits dived 30 per cent to $4.2bn (£2.8bn) on falling revenues, rising costs and the soaring bills from regulations and taxes. The UK-headquartered bank’s income fell [...]
Standard Chartered bonus bungle shows investors need to speak up March 4, 2015 Falling profits, boardroom turmoil and a declining return on equity: by any measure, Standard Chartered’s 2014 was a year to forget. So the decision of Peter Sands (whose resignation last week was met with a surge in the bank’s share price) to forgo a variable pay award for the year was necessary to avoid a [...]
European Banking Authority cracks down on British banker’s bonus cap “allowance” loophole March 4, 2015 The European Union is ramping up pressure on the UK to comply with new laws on capping bonuses which could see London based banks reducing remuneration. Europe’s banking watchdog has issued long-awaited draft guidelines on remuneration which address a grey area allowing banks to circumvent the rules which cap bonuses at two times that of [...]
Standard Chartered share price rises as boss Peter Sands gives up bonus March 4, 2015 Shares in troubled bank Standard Chartered were up six per cent this morning, despite reporting a sharp drop in pre-tax profits. Investor optimism was clearly high, as outgoing boss Peter Sands, who, it was revealed last week, will be replaced by Bill Winters, announced he and the rest of the board will forego their bonuses. [...]