Chinese brokerage CICC cutting investment banking base pay by 25% ...Middle East

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China International Capital Corporation (CICC) is a Chinese multinational investment management and financial services company. Its owned in part by state interests. Base pay investment bank salaries are to be cut, by up to a quarter. Will impact around 2,000 staff. Factors cited include:cost reductionslow economyreduction in IPOsBeijing's austerity drive (Chinese Communist Party attacking the 'elites', preferring 'common propserity')Info via Reuters report. This article was written by Eamonn Sheridan at www.forexlive.com.

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