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“Bonuses in some areas could be up 20-25 percent" Greg Beszant speaks to Reuters

Date: 05 January 2015

Investment bankers working on corporate takeovers and share issues can expect good news on bonuses when they return from the holidays after a buoyant year, but bond and currency traders face lower payouts.

Investment banks will finalise bonuses over the next two months and early signs are that average payouts will be relatively flat or slightly higher across most banks, although totals could drop at banks that have cut staff...

…At the upper end of the range, merger and acquisitions dealmakers and those advising on debt and equity issues should see bonuses up 5-10 percent on average, industry sources said.

…Greg Bezant, who is the Group Director of Continental Europe, at recruitment firm Phaidon International in Zurich, predicted bonuses could be up 20-25 percent in some areas and merger and acquisitions and private equity units should fare well.

Traders in fixed income, commodities and currencies are likely to see bonuses drop by up to 10 percent, however, after another bruising year.

Several banks are also expected to cut payouts in areas where they have been fined heavily for misconduct. Six banks were fined a record $4.3 billion for attempted foreign exchange market rigging and there have also been fines for manipulating interest rates and commodities prices and other misdemeanours.

Several banks are under more pressure than others to cut costs hard, which could see European banks being more restrained than U.S. rivals, industry sources said…

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