Tuesday, November 30, 2010
Why the Treasury won’t illuminate 2010 bank pay
Why the Treasury won't illuminate 2010 bank pay
The new law on executive remuneration in financial services has been shelved, as the prime minister confirmed during Prime Minister's Questions yesterday.Why? Well, you probably won't need telling that those who run British banks have for some time been telling me how much they dreaded having to reveal how many of their people earn seven figures and above. Over a 10-year period, the share price performance of Britain's banks has been appalling (in the case of Royal Bank of Scotland and Lloyds/HBOS) or lousy (Barclays and HSBC). Over the same period (you probably won't need reminding) the remuneration of top bankers has soared. As for dividends, after the crash of 2008 banks either eliminated them (RBS, Lloyds, Barclays) or slashed them (HSBC).
2 thoughts on “Why the Treasury won’t illuminate 2010 bank pay”
Add a comment
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
icarus says:
“But you have to consider the counterfactual – banks may not be doing well but they’d be doing worse if they were unable to attract talent because of salary/bonus disclosures”. Or some similar b*llocks.
mick rupert says:
Doesn’t matter what the current lot legislate. WikiLeaks will sort it out 😉