Citi said to cut bonuses due to poor year-end

An unpleasant surprise.

Citigroup reduced the bonus pool for fixed-income and equities traders and salespeople after their division’s lacklustre performance in the final weeks of the year, according to a person briefed on the matter.

Bloomberg News reports that the bonuses will drop 5% to 10% on average, said the person, who asked not to be identified discussing compensation.

Citigroup planned as recently as mid-December to keep the bonus pool unchanged from 2013, a person briefed on the matter said at the time.

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

Citigroup Said to Cut Traders’ Bonuses After Weak Year-End

RBS Said to Weigh Sale of Asia Corporate Banking Business

JefferiesAnd the Best Place to Work in the global financial markets 2017 is...

Register for Financial Markets News Alerts