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EU Putting Serious Curbs on Banker Payouts

By Implode-Explode Heavy Industries

"In an interesting bit of reporting disparity, news of planned EU legislation on bank pay is a top story on the front page of the Financial Times, yet is buried in the Wall Street Journal and didn?t make the cut at the New York Times. Admittedly, that is no doubt in part due to that any EU pay restrictions will affect London based bankers. But it is the US FT edition that is presenting this story prominently, and with good reason. To have rules like that imposed over such a large number of important markets to US firms is going to pose quite a conundrum. No one with an operating brain cell (or who is any good) will take a posting in regions that subscribe to the EU pay model if he can have more liberal pay elsewhere. That in turn means the US firms might need to adopt similar measures."

Full post as published by Mortgage Lender Implode-o-Meter on July 01, 2010 (boomark / email).