As the subprime crisis spreads and bank revenues take a hit some are predicting that bonuses might fall by as much as a quarter from year ago levels in the U.K., reports Reuters UK. “Banks are having significant increases in their costs. They can't access liquidity as cheaply as before," said Jonathan Said, a senior economist at the Centre for Economics and Business Research. “The first costs that you take off are bonuses.” As recently as six weeks ago, the centre had been estimating that this year’s bonuses would be greater than last year’s. Last year approximately 4,200 bankers received bonuses greater than £1 million.
Want full access to GlobalCapital?
If you are new to GlobalCapital or you already subscribe to some of our channels you can still easily extend your access.
Take a trial to the entire site or subscribe online to see all our capital markets news, opinion and data sets.
Don't miss out!Free trial
Read the magazine on your mobile device
Most Viewed: Securitization
- Second CMBS 2.0 default points to struggling UK retail sector
- Most Innovative Securitization Bank of the Year
- The 2019 GlobalCapital US Securitization Awards: The Winners
- Credit Suisse adds to EMEA CLO team with new promotion
- How a Midwestern life insurer powered Wall Street's biggest new CLO manager
Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|