“People are fed up with having bonuses deferred over five to 10 years or being split into stock. At a place like this you’ve got no ambiguity about where your earnings are coming from—the commission collected stays in house.”
—Brian Bier, an ex-equity derivative trader at Nomura in New York, who has recently joined Macro Risk Advisors, on how sellside traders are becoming bothered by weaker bonus payouts.
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