Finance
Citigroup Lifts Pre-Brexit Cap on Top London Bankers’ Bonuses
- Latest move applies to Citi’s material risk takers in London
- They can now get bonus that’s as much as six times base salary
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Citigroup Inc. is lifting the limit on some of its top UK bankers’ and traders’ bonuses, following in the footsteps of rivals like JPMorgan Chase & Co. and Barclays Plc.
The change will allow the Wall Street firm’s so-called material risk takers to now earn a bonus that’s as much as six times their base salary, according to an internal memo seen by Bloomberg News. That’s up from a previous limit that restricted those employees’ bonuses to two times their fixed pay.