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In a pandemic-scarred year, boards and compensation committees at 60 large and regional banks relied less on the normal performance metrics and more on qualitative criteria to determine bonus payments.
May 21 -
The nation's second-largest credit union is thanking all full-time employees for their work since COVID hit. But even as vaccinations ramp up, remote work will be the norm for several more months.
March 12 -
The credit union will provide a one-time stimulus check for all employees who worked through the COVID-19 crisis, similar to a recent move at Bank of America.
January 27 -
Bank of America scrapped a proposed bonus policy this week after it provoked the ire of high-earning traders and dealmakers, some of whom could have missed out on a big chunk of their compensation.
January 27 -
Bank of America will give $750 to eligible staff who earn $100,000 or less annually, while higher-paid employees will receive a stock award, according to a memo to staff from CEO Brian Moynihan.
January 22 -
A report from CUES shows total compensation growing for members of the C-Suite, but institutions on the smaller end of the asset spectrum — representing two-thirds of the total industry — face stark differences in median CEO pay.
September 2 -
The bank will be allowed to exceed the limit to enable it to make more small business loans; the CEOs of HSBC and StanChart are also donating part of their pay to coronavirus victim charities.
April 9 -
Corporations have tapped more than $124 billion in lines in the past three weeks; rating agency says virus “could wipe out a full year of U.S. banking profits.”
March 26 -
Though Credit Union of Southern California isn't laying off workers, management wanted to help employees who were still financially affected by the coronavirus.
March 20 -
A new religion swept Wall Street after the 2008 crisis: Pay executives with stock, make them wait to collect it, and there will be fewer problems. Now a generation of executives retiring from Wells Fargo is experiencing what can happen to those payouts when new scandals arise.
February 6