Pay of top bankers covering Asia cut up to 50 percent after deal droughtBloombergTop bankers in Asia ex-Japan at Wall Street’s biggest firms are experiencing their worst payouts since the global financial crisis more than a decade ago, people familiar with the matter said. Compensation for nonperformers has fallen 60 to 70 percent, with many being left out all together from the bonus pool. Goldman plans to slash 3,200 jobs globally and has already made two rounds of reductions in Asia since September last year, firing mostly China-focused bankers. Managing directors were the hardest hit. Citigroup Inc, for example, is raising compensation for its junior investment bankers by as much as 15 percent.

Source: Taipei Times January 30, 2023 23:33 UTC