EU Bankers Earning More Than €1 Million Hit Record
- Number of high earners jumps on bumper revenue at banks
- Best-paid banker was based in Spain on severance payment
Banks competed in 2021 to hire bankers amid a pandemic-driven spike in trading.
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The number of bankers and traders in the European Union earning more than €1 million ($1.1 million) rose to a record in 2021 as securities firms took in bumper revenue and investment banks relocated staff to the bloc after Brexit.
The number of such “high earners” surged 42% from the previous year to 1,957, the European Banking Authority said in a statement on Thursday in Paris. That’s the highest level for members of the EU and related states since the EBA started collecting data in 2010. The figures don’t include the UK, which remains a major financial center after leaving the EU in 2020.