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February 01, 2012


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Roger Davies

Don't forget that in High Street banking bonuses were introduced as a means of incentivising staff but importantly also as non-pensionable earnings. A gripe of many junior staff has been that it appears the bar for pay-outs has been set much lower for executive personnel.From a neutral standpoint and that of the long suffering smaller investor, it is surprising that share price improvement does not feature strongly in many bank executive bonus structures and especially for RBS and LBG where the principal shareholder is the Government/us.


I guess it may not have been a coincidence that the story immediately below this in the FSClub Daily News summary was "Banker's fear "social time bomb" - BBC ( http://www.bbc.co.uk/news/business-16857265 ). Bankers happen to be the most publicly visible (with some reason !) example of the divergence of wealth distribution we have seen happening over the past 20 or so years which seems now to be gaining growing attention. I think it's wider than bankers being over (or under ?) paid and consequently this attention is likely to continue for some time yet.

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