Ex-Barclays stockbrokers allowed to keep bonuses

Money Roll

Two former Barclays stockbrokers can keep nearly $4m in signing bonuses, an arbitration panel has ruled, handing down a rare rebuke of a controversial recruiting practice common among brokerage firms.

Reuters reports that Barclays had tried to claw back the bonuses from brokers Ileana Platt and Rafael Urquidi after the pair filed a claim with Financial Industry Regulatory Authority's (FINRA) arbitrators, seeking more than $9m in damages.

Platt and Urquidi alleged that Barclays reneged on a number of pledges it made to the pair when it recruited them from Credit Suisse in 2012, according to a FINRA arbitration ruling dated Wednesday.

To access the complete Reuters article hit the link below:

Ex-Barclays brokers can keep nearly $4 million in bonus money -panel

Local bankers emerge as Fed ally in fight against audit bill

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts