Europe’s investment banks have cut bonuses for a second consecutive year, following a prolonged downturn in dealmaking and listings that may finally be subsiding. As reported by the Financial Times, Deutsche Bank and BNP Paribas are among those scaling back annual bonuses.
Deutsche Bank, Germany’s largest bank, announced a 5.5 per cent reduction in its bonus pool for the previous year, while BNP Paribas, the eurozone’s largest bank, reduced its pool by around 5 per cent, as reported by the FT, citing sources familiar with the matter.
