Citigroup Said to Cut Traders’ Bonuses After Weak Year-End
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Citigroup Inc. reduced the bonus pool for fixed-income and equities traders and salespeople after their division’s lackluster performance in the final weeks of the year, according to a person briefed on the matter.
The bonuses will drop 5 percent to 10 percent on average, said the person, who asked not to be identified discussing compensation. Citigroup, the third-biggest U.S. bank, planned as recently as mid-December to keep the bonus pool unchanged from 2013, a person briefed on the matter said at the time.