Lean bonus for London's bankers

Bankers in London, the hub for securities firms in Europe, are bracing for lower bonuses compared with their New York counterparts as earnings from the region plummet and pressure to tighten payouts mounts.

Investment bankers and traders at European banks should expect at least a 15 per cent cut in pay this year, while US lenders may leave compensation unchanged, three consultants said.

via Business feed http://www.scmp.com/business/banking-finance/article/1092312/lean-bonus-londons-bankers