10% less than in 2009.
CNBC reports that, according to its sources, Citigroup's investment banking arm is set to pay out up to 65% of 2010 employee bonuses in cash.
Iron Man Bob Diamond appears to have got bested at Davos over the weekend by French Finance Minister Christine Lagarde.
The New York Daily News reports that Llewellyn Connolly, a former MD at Swiss Re. (and ex-Lehman and Goldman staffer) pleaded guilty in Manhattan Supreme Court last week to felony tax fraud.
The Wall Street Journal reports that Goldman Sachs has awarded CEO Lloyd Blankfein $12.6m in restricted stock for his work in 2010 (up from $9m the year before), and increased his base pay to $2m (up from $600,000).
Here's the latest from our Highly Placed Professional.
Citi's investment banking boss Raymond McGuire has split the firm's energy, power and chemicals group, with energy and power now each becoming free-standing units, and chemicals being folded into the Global Industrials Group.
Here's something interesting for a Friday.
The Wall Street Journal reports that, according to its sources, some senior employees over at Bank of America Merrill Lynch who receive a 2010 bonus of over $5m will be able to take up to 30% of their payout in cash.
Bloomberg reports that, according to the Financial Crisis Inquiry Commission, Citigroup's US fixed income unit was warned in 2005 'that it was taking too much risk' and that management oversight was considered 'less than satisfactory' - three years before mortgage losses in the unit led to a near collapse of the firm.
The eighth financial professional in the last few weeks.
Having gone to the trouble of looking around and getting a new job, waiting for your bonus and then resigning, your current firm tries to buy you back. Should you go or should you stay ?
Cash and share bonus suspensions are targeted on wider teams.