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Bankers Still Overpaid Despite Poor Performance

Aarti Maharaj | November 25, 2015

In light of the financial crisis, many companies have found ways to do more with less. In other words, cutting back on resources and maintaining costs while keeping compensation and bonuses under control have worked for many companies as they tried to emerge from the deepest recession. But for bankers, they are still being too much, said Deutsche Bank Chief Executive John Cryan at an academic conference earlier this week.

In a Reuters article, Cryan told the audience that corporate governance is an important part of maintaining soaring compensation. “Compensation is still too high,” Cryan told the conference. “We’ve just paid people too much across the board.”

Cryan said that seven years after recession, traders were immediately rewarded for profits that could have easily slipped away.  “Many people in the sector still believe they should be paid entrepreneurial wages...

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