Bonus ban talk ‘is just rhetoric’
Monday 21st April 2008, 2:30PM BST.
TALK of stopping bankers’ bumper cash bonuses is probably just rhetoric, according to the chief executive of Schroders in Guernsey.
Julian Winser (pictured) said he thought calls from finance ministers around the world for an overhaul of the industry’s pay system would come to nothing.
A union of regulators, the Financial Stability Forum, said the current structure – whereby bankers frequently receive £1m.-plus bonuses based on their performance – needed urgent reform. Mr Winser said he suspected that was an empty gesture.
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