Aug
30
Europe Bankers See $2.5 Billion of Bonuses Vanish in Stock Rout
By-
Credit Suisse staff have lost $1.2 billion on deferred shares
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Deutsche Bank’s 43% decline costs bankers $590 million in pay
Investment bankers at Europe’s biggest securities firms are watching their bonuses melt.
A rout in financial stocks this year has wiped more than $2.5 billion from the value of deferred shares that were paid as bonuses in the past few years at Barclays Plc, Credit Suisse Group AG, Deutsche Bank AG and UBS Group AG, data compiled by Bloomberg show. Awards for staff at Credit Suisse have plunged by more than 1.2 billion Swiss francs ($1.2 billion) on a 42 percent drop in shares this year, as Brexit added to pressure European bank stocks were already facing from costly restructuring efforts…
Europe Bankers See $2.5 Billion of Bonuses Vanish in Stock Rout
