Traders and bankers at Bank of America’s London unit are the least satisfied with their 2015 bonuses while their colleagues at Jefferies Group are happiest, according to a survey, showing that payouts soared across all staff levels.
Bloomberg News reports that about 45% of front-office workers at Bank of America in London said they are unhappy with their bonuses, followed by 42% at Credit Suisse and Citigroup, Emolument.com said in a statement, citing a survey among 1,033 staff in investment banking and trading. That contrasts with 40% of bankers at Jefferies signalling they are happy, according to the survey.
Bankers and traders from the City of London financial district to New York’s Wall Street are digesting payouts for 2015, when markets whipsawed by a collapsing oil price contrasted with a record period for deal making. While average bonuses went up across the industry, some British bankers may have received nothing, known as a 'doughnut', as firms from Credit Suisse to Deutsche Bank embarked on overhauls, Emolument said.
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