4% bonuses for ethical behaviour

Billionaire Steven A. Cohen, whose hedge fund SAC Capital Advisors LP shut down this year to settle charges of unprecedented insider trading, plans to reward employees at his new investment firm for demonstrating ethical behavior.

Bloomberg News reports that starting next year, some of the managers and analysts at Stamford, Connecticut-based Point72 Asset Management LP can earn an extra bonus of as much as 4 percent of compensation if they demonstrate adherence to the firm’s compliance policy and ethical standards, contributions to the community and repeated strong investment performance, Mark Herr, a spokesman for the firm, said Wednesday in a telephone interview.

'Are you setting a proper tone and example on compliance and doing the right thing? Are you setting the right tone and doing the right things to develop your analysts?' Herr said of the new program, called 'Rewarding What Matters.' Employees can earn the bonus by, for example, raising issues with compliance, suggesting policy changes and serving on charitable boards.

The new policy is the latest step in a series of management and organizational changes that were announced by Cohen’s firm, after SAC stopped handling client money this year and reached a $1.8 billion settlement with the U.S. 

Hit the link below to access the complete Bloomberg News article:

Cohen to Reward Ethical Behavior With 4% Bonus at Point72

Yen at 120 Seen by Best Forecaster Nomura on Yield

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News