Citigroup Bonus Pool for Traders, Bankers Said to Stay Flat
- Decision is preliminary and hinges on performance in December
- Senior managers learned of decision on Tuesday, person said
Citigroup, JPM Take Flat Approach to Bank Bonuses
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Citigroup Inc., the third-biggest U.S. bank, plans to leave its bonus pool unchanged from 2014, joining JPMorgan Chase & Co. in a move that puts pressure on their weakened rivals in Europe, according to a person briefed on the matter.
Citigroup told senior managers Tuesday about the compensation figures, which may yet change depending on how markets perform in the year’s final month, said the person, who asked not to be identified discussing the deliberations. Heads of trading desks will get a chance to push for more pay in talks during coming weeks, the person said. Rank-and-file employees won’t learn what they’ll get until after December’s holidays.