By Joe Vladeck
The number of European bankers earning more than 1 million
euros jumped 11 percent from 2011 to 2012, according to new data from the European
Banking Authority (EBA). The report is timely in Europe, where regulators are
struggling to set limits on the financial industry compensation, hoping to
reduce incentives for bankers and traders to take undue risks. New caps on
bonus payments are set to come into effect in 2014.
Reuters
has a detailed summary of the EBA report. British bankers account for the
bulk of European high-earners, representing more than 2,700 of the 3,500
million-euro bankers.
And, predictably, the countries hardest-hit by the
ongoing financial crisis saw banker pay fall. Spain saw a 20 percent decrease in
million-euro bankers, as did Ireland. Despite Greece's recent financial
calamity, a single banker in the country is somehow still earning more than a
million euros in compensation.
0 comments:
Post a Comment