• The post you are reporting:
   
  Elite 'superbankers' get record bonuses - but rest are left crying into their Peroni
  
  All but the absolute elite are expected to be disappointed by this year's payouts
  
  If you're planning on hitting the bars of the City and Canary Wharf in the coming weeks, expect to see many a banker crying into their Peroni. Bonus season is upon them, and it could be one of the most divisive in years as London's highest flying "superbankers" win big at the expense of the rank-and-file.
  
  City bankers make millions from advising on high-profile takeovers and financing deals, but for many, the most nerve-shredding negotiations are taking place with their own bosses right now as they try to secure their annual bonus.
  
  These discussion are reaching crunch point at US banks such as JP Morgan and Goldman Sachs, where staff will be informed of their 2013 "comp" - shorthand for bonus - ahead of their annual results next week.
  
  Bankers at European firms such as Deutsche Bank, Credit Suisse and UBS will have to wait until early February, but they will take their lead from Wall Street, using any evidence of a bumper payout to broker a better deal. But disappointing results and ongoing restructuring in an industry still recovering from the financial crisis of 2008 and the European crisis of 2011 have added tension to discussions.
  
  A return of lucrative mega-deals in 2013, including Vodafone's £84 billion sale of its US mobiles division and the Treasury's £3.2 billion disposal of Lloyds bank shares, resulted in huge fees for a handful of leading banks and their elite "rainmakers".
  
  Full report Independent

Report Post

Your Name

Reason