European Banks' Millionaire Club Swells as Pay Shifts to Salary

  • Largest number of highest earners work in the U.K., EBA says
  • EU bonus cap led to sizable move from variable to fixed pay

The number of bankers in the European Union earning more than 1 million euros ($1.1 million) soared in 2014, while the bloc’s bonus cap led to a shift toward fixed pay, according to the European Banking Authority.

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