I'm a banker, get me out of here!
Barclays CEO Antony Jenkins provoked an outcry earlier this week for saying that he was forced to increase bonus payments to senior executives after hundreds of key staff left the investment bank in America and he feared a 'death spiral' could grip the organisation.
But as the Financial Times reports, HSBC, Royal Bank of Scotland and Standard Chartered have all warned in recent weeks that they will lose top bankers, and risk damaging their business, unless they can keep up with overseas competitors on pay.
Not everyone is buying it, however. Some top bankers are sceptical about the true risks of losing their top staff. The newspaper quotes one UK-based executive at a Wall Street bank who said: 'Where are they going to go ? The market is incredibly tight – hardly anyone is hiring in Europe and almost no one is moving. Plus it is expensive to buy people out of their contracts'.
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