Goldman Delays Release of Bonus Details. Had been expected to give staff the outline of their bonuses today (1/19)- before full-year results are released.
Article from Reuters via ABC News
UPDATE: JP Morgan's 24,654 investment bankers, including nearly 5,000 in London, will get an average of $379,000 each. Guardian UK: JPM "surfed a wave of recovery in global markets to notch up" year-end profits of $11.7bn, more than double its earnings of $5.6bn during crisis-stricken 2008. "These obscene bonuses paid so soon after the world's taxpayers had to rescue the banking system show that there is something fundamentally wrong in the relationship between banking and the rest of society."
NYT summary: Citi hopes the move will help deflect bonuse outrage, FT noted. However, it could also make it harder for the struggling behemoth to retain its top talent, The Financial Times said. Like its rivals, Citi will pay a large part of banker and trader bonuses in stock that could not be sold for a number of years. The bonus pool for 2009 is likely to be on par with that of 2008, the report said. Current Investment Bank, Accounting and Legal Opportunities click here and Subscribe to RSS Feed here.
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