FOR IMMEDIATE RELEASE:
Sanford Rose Associates® – Integrated Management President and Managing Partner, Chad Dean, Featured in Bloomberg Business, Citigroup Bonus Pool for Traders, Bankers Said to Stay Flat
Dallas, TX 12/3/2015
By Dakin Campbell
Citigroup Inc., the third-biggest U.S. bank, plans to leave its bonus pool unchanged from 2014, joining JPMorgan Chase & Co. in a move that puts pressure on their weakened rivals in Europe, according to a person briefed on the matter.
Citigroup told senior managers Tuesday about the compensation figures, which may yet change depending on how markets perform in the year’s final month, said the person, who asked not to be identified discussing the deliberations. Heads of trading desks will get a chance to push for more pay in talks during coming weeks, the person said. Rank-and-file employees won’t learn what they’ll get until after December’s holidays.
“If you are in the business, you know it’s not exactly robust,” Chad Dean, a managing partner at recruiting firm Integrated Management Resources, said in an interview. “People in these seats should take the same money they got last year and whistle all the way to the bank.”