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Cap on bonuses a worry for European banks

At stake is their ability to retain staff in some of their most profitable businesses and compete with US firms without boosting fixed costs
Friday, October 17, 2014 - 05:50
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Barclays and HSBC Holdings are among the biggest European lenders with global investment banking operations that have sought to offer employees discretionary payments.

London

THE European Union's largest securities firms will have to raise fixed pay for bankers or risk losing their highest-paid staff to US competitors after the region's banking regulator blocked efforts by 39 banks to sidestep limits on bonuses, according to analysts and recruiters.

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