The 5 biggest British Banks accept the agreement that was made at the Group of 20 nations meeting in Pittsburgh and are willing to cut down on their bonuses. At least that is what HSBC, Barclays, Lloyds, RBS and Standard Chartered promised to Alistair Darling, Britain’s Treasury chief. These Banks will still hand out bonuses in 2009, but they will only link them to the long-time performance of their investment decisions. In this way, the banks want to prevent any unpleasant surprise caused by excessive risk-taking and short-sighted decisions , because they have already had enough of these surprises, haven’t they?
Thibaut Oosterlinck
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The 5 biggest British Banks accept have accepted the agreement that was made at the Group of 20 nations meeting in Pittsburgh and are willing to cut down on their bonuses. At least that is what HSBC, Barclays, Lloyds, RBS and Standard Chartered promised to Alistair Darling, Britain’s Treasury chief. These Banks will still hand out bonuses in 2009, but they will only link them to the long-time performance of their investment decisions. In this way, the banks want to prevent any unpleasant surprise caused by excessive risk-taking and short-sighted decisions , because they have already had enough of these surprises, haven’t they?
well done
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