SocGen Sees Bonus Pool Rising ‘Massively’ After Record Year
- Lender flags gains as investment bankers help fuel rebound
- Rival Credit Suisse cut its bonus pool after steep losses
This article is for subscribers only.
Societe Generale SA is planning to “massively” raise its bonus pool to reward bankers for a year of record profit, joining an increasingly heated race on Wall Street to attract and retain talent.
The Paris-based lender, whose equities trading desk beat peers with a 23% increase in revenue in the fourth quarter, is monitoring compensation increases in the industry to remain competitive and retain talent, Slawomir Krupa, who oversees the firm’s investment banking and trading business, said in an interview with Bloomberg TV.