UK’s Kwarteng seeks to scrap bankers’ bonus cap – FT

Author of the article: British finance minister Kwasi Kwarteng is seeking to scrap Britain’s cap on bankers’ bonuses, the Financial Times reported on Wednesday. Kwarteng argues the move would make London a more attractive destination for top global talent, the newspaper reported citing his colleagues. Financial Post Top Stories Sign up to receive the daily…
UK’s Kwarteng seeks to scrap bankers’ bonus cap – FT

Author of the article:

British finance minister Kwasi Kwarteng is seeking to scrap Britain’s cap on bankers’ bonuses, the Financial Times reported on Wednesday.

Kwarteng argues the move would make London a more attractive destination for top global talent, the newspaper reported citing his colleagues.

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Although no final decisions have been taken, people familiar with Kwarteng’s thinking said he wanted to scrap the cap, introduced by EU legislation in 2014, as part of a package of City reforms, the report added. (Reporting by Rhea Binoy in Bengaluru; Editing by Lisa Shumaker)

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