<div id="readability-page-1">  <p><time datetime="2024-08-11T11:33:51+01:00">    Sunday 11 August 2024 11:33 am  </time></p>        <div>    <div>             <div>             <p>            <span>        Banking and Fintech Reporter      </span>                </p>          </div>  </div>    </div>    <figure>    <div>              </div> <img width="742" height="490" src="https://imageproxy.pbkrs.com/https://www.cityam.com/wp-content/uploads/2024/08/Citibank-To-Cut-11000-Jobs-157661690-scaled-1.webp/query-dz03NDI?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://www.cityam.com/wp-content/uploads/2024/08/Citibank-To-Cut-11000-Jobs-157661690-scaled-1.webp/query-dz03NDI"/>  <figcaption>The cap was introduced in 2014 by the EU as part of efforts to limit excessive risk-taking following the financial crisis.</figcaption> </figure>  <p>Wall Street giant Citigroup has reportedly become the latest US bank to remove an EU-imposed bonus cap for hundreds of its top London staff, following in the footsteps of its biggest rivals.</p>    <p>It is unclear how much Citi’s leading investment bankers will now be able to earn relative to their base salary. The Sunday Times reported the news.</p>    <p><strong><em>City A.M.</em></strong> approached Citi for comment.</p>    <p>The reported move comes after Barclays told staff last week that its so-called material risk-takers (MRTs) would be able to earn a bonus worth up to 10 times their base salary, up from a current ratio of 2:1.</p>      <p>JPMorgan Chase and Goldman Sachs have also ditched their existing limits in recent months, with top staff at the latter now eligible to earn up to 25 times their annual salary. Morgan Stanley is planning to set a new cap as well but has not revealed further details on its approach.</p>    <p>UK financial regulators announced last October they would remove the requirement for banks to cap variable pay at 100 per cent of base salary for MRTs, or up to 200 per cent with shareholder approval.</p>    <p>The cap was introduced in 2014 by the EU as part of efforts to limit excessive risk-taking following the financial crisis.</p>    <p>Big banks responded to the EU’s limit with so-called role-based allowances – de facto bonuses that gave MRTs a higher proportion of fixed pay.</p>      <p>UK regulators grew concerned that this change could make it more difficult for banks to rein in costs during periods of weaker financial performance.</p>    <p>Banks still face other measures to ensure their pay policies do not reward risk-taking, including the Financial Conduct Authority’s remuneration code.</p>            </div>

摩根大通

巴克萊銀行

花旗

摩根士丹利

<p>花旗已經加入其他華爾街銀行，取消了對其倫敦高級員工實施的歐盟規定的獎金上限。該上限於 2014 年引入，旨在限制過度的風險承擔。巴克萊、摩根大通和高盛也取消了他們的限制，而摩根士丹利計劃設定一個新的上限。英國監管機構取消了銀行對重大風險承擔者的可變薪酬設定為基本工資的 100% 的要求。金融行為監管局的薪酬規定確保薪酬政策不會鼓勵風險承擔</p>

花旗成為最新一家取消英國獎金上限的華爾街銀行