Canadian bankers 'going to feel good about their bonuses this year'

Graph And Coins

Bonus pots up.

Canada’s six biggest banks earmarked $10.7bn for annual bonuses, 13% more than last year, as North American stock markets rose and investment-banking fees soared to a record.

Bloomberg News reports that bonuses may be directed more toward those in wealth management this year and to dealmakers within capital markets, executives said.

While total trading revenue at the biggest banks climbed about 1.5% this year, employees in underperforming businesses like fixed-income and commodities trading may see less of an increase.

“People are going to feel good about their bonuses this year,” said Paul Gryglewicz, managing partner of Global Governance Advisors, which conducted a financial-services compensation survey the past four years. “Investment banking is going to be up. Sales and trading are going to be a mixed bag, depending on what specialty you might be involved in.”

To access the complete Bloomberg News article hit the link below:

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