More than half of bankers and traders working at U.S. securities firms in London will receive a higher bonus for 2013 than a year earlier as they benefited from stronger American investment-banking results, according to compensation data provider Emolument.
Bloomberg reports that about 52% of employees in investment banking and markets who submitted numbers from JPMorgan, Morgan Stanley, Citigroup and Goldman Sachs in London said they will receive a higher bonus than the year before, Emolument said.
About 15% said they’ll get at least 30% more than 2012, the data showed.
Investment-banking fees including from mergers and initial public offerings rose 5% in North America in 2013 compared with 1% in western Europe, data compiled by consulting firm Freeman & Co. show.
'London bonuses at U.S. firms are up, a ripple effect from the 2013 uptick in banking activity in America,' said Robert Benson, chief executive officer of Emolument. 'We are keeping a keen eye on upcoming European numbers, which although more modest, should also improve on last year, reflecting stronger performances from equities, investment banking and capital markets, due to absorb losses in fixed-income divisions'.
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