London’s bankers have little use for lifted bonus cap this year ...Qatar

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London’s bankers have little use for lifted bonus cap this year
London’s investment bankers have long grumbled that the region’s bonus cap crimped their pay in high times. Its demise arrives in a year when few expect the change to unleash bumper payouts. The UK government said on Friday it will lift the limit on bonuses that has affected global banks for most of the last decade. While that’s welcome news in the City of London, this year’s pay among top investment bankers will be influenced far more by evaporating deal flow. Mergers and IPOs have ground to a halt, quickly flipping the environment from a talent war to job cuts. Even traders who are faring better may see their rewards limited by broader concerns about an economic downturn. The UK has long

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