BofA Joins Rivals in Lifting Cap on London Bankers’ Bonuses

Bank of America Corp. joined a slew of rivals in scrapping a crisis-era limit on the bonuses it pays to some of its top bankers and traders in London.

Bank of America’s so-called material risk takers in the UK can now earn a bonus that’s as much as 10 times their base salary, which is in line with similar policies at the likes of Barclays Plc and JPMorgan Chase & Co. That’s up from a previous limit that restricted those employees’ bonuses to two times their fixed pay.