It’s no secret that jobs are more bountiful on the other side of the Pacific. But a Reuters story today elaborates on the fact that bankers in Asia-Pacific can expect their salaries to grow by 5 percent this year, compared with 2.5 percent in the United States.
The story cites Mercer figures, which said that comps in Europe will also increase, but not for CEOs. Half of the 63 financial institutions surveyed said they do not plan to change their bonus structures, and 10 percent said they planned to lower maximum payouts. Staff in control roles like risk management, audit and compliance should expect to receive the biggest raises of more than 3 percent in 2012.
Wells Fargo goes asset shopping for European banks. [Reuters]
Wells Fargo looks at closing and consolidating branches. [Investment News]
Exchanges are planning tighter controls for high-frequency trading. [WSJ]
The incoming Deutsche co-chief executive will appoint two bankers to replace him. [DealBook]
Citi will manage Man Group’s $15 billion hedge fund. [Hedge Fund Net]
An EU court challenges bank downsizings. [WSJ]
BNP Paribas will sell its stake in a French real estate firm for $2 billion. [NY Times]
Goldman ranks No. 3 in Fortune’s "Most Admired Companies" for people management. [Fortune]
MF Global ranks No. 3 in Fortune’s "Least Admired Companies" for people management. [Fortune]