More Bonus News

The Independent reports that HSBC looks likely to follow Deutsche Bank and spread the impact of the UK bank bonus tax around its global employee population. A similar move is also thought to be being considered by Barclays Capital.

In the meantime, The Times reports that UK tax authorities have confirmed that the private equity industry is except from the bonus tax.

And the BBC reports that Barclays CEO John Varley feels that the tax will damage London as a financial centre. He also said that he laments that the UK and France have decided to impose the tax.

Bloomberg reports that BNP Paribas CEO Baudouin Prot has described the French bank tax on trader bonuses as a 'handicap' for French capital markets businesses.

Finally, the news agency also reports that Morgan Stanley CEO John Mack has confirmed that he will not take a bonus for his work in 2009. This will be the third year Mack has foregone a bonus.

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