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Investment Banking

Top City bankers are still in a talent war: ‘It doesn’t go away just because markets are tough’

Bidding for the best banking staff is unlikely to slow down in the new year, insiders say

By Paul Clarke
Bankers and headhunters told Financial News that they expect a second wave of cuts before bonuses are paid out
Bankers and headhunters told Financial News that they expect a second wave of cuts before bonuses are paid out Photo: Getty Images

After a hiring frenzy for senior dealmakers in 2021, banks are wielding the axe again.

Pay soared last year as inadequately-staffed banks tried to keep up with an unprecedented deal boom. But bonuses could now shrink by 45% and annual culls of underperforming dealmakers have returned.

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GQG Launches Buyback After Stock Tumbles on Adani Probe

GQG Launches Buyback After Stock Tumbles on Adani Probe

Trump Considers Warsh Serving as Treasury Secretary—and Then Fed Chair

Large Accounting Firms Will Have to Submit Financial Statements to U.S. Regulator

Nvidia Is on Top but Does It Have Anywhere to Go but Down?

U.K. Consumers Cheerier Ahead of Holidays as Budget, U.S. Election Jitters Fade