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Banks and ABI to hold talks over 'out of control' bonuses
The Association of British Insurers (ABI) is understood to be planning a series of face-to-face meetings between investors and the UK’s top five banks in January to urge them to curb “out-of-control” bonuses and cut individual payouts. The move follows a strongly-worded letter from the ABI sent to the banks in December, which demanded they fundamentally overhaul their remuneration structures and award smaller bonuses. All the major banks are believed to have replied to the letter with a written promise that they will take shareholders’ concerns into account when deciding bonus payouts in a few months’ time. ... (full story)
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