The struggling hedge fund giant Man Group has capped all
executive bonuses at 250 per cent of salary in a sweeping overhaul of its pay
policy, according to the Independent. The
company, which paid no bonuses at all to its top staff after a poor 2012, said
its previous salary structure had been "overly complex" and the new
plan "will increase transparency and alignment with shareholders whilst
reducing the complexity and likely quantum of awards".
The news came as fears mounted across the Square Mile that
the cap on bankers' bonuses will spread across the entire financial services
sector…
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