Bankers 'expecting record bonuses'

2 November 2009

The majority of financial executives are expecting their bonus payments to match or beat last year's figures, with ten per cent of them expecting to receive record payouts this year.

With banks across the world beginning to shake off the effects of the financial crisis, bankers displayed their optimism about the remuneration levels they are expecting.

A Bloomberg poll of investors and analysts found that only 25 per cent of bankers expected to see a decline in banking bonuses, with those working in Asian financial institutions the most positive about the prospects for their bonus payouts.

Slightly more than half of those interviewed for the survey said that they believed any attempts by governments to restrict bonuses would damage innovation, while 38 per cent admitted they believed limiting bonuses would control excessive risk taking.

Earlier this month, Goldman Sachs announced it had already set aside a bonus pot of $17 billion for staff this year, a figure that is expected to rise past $20 billion by the end of 2009.

By Claire Archer

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