Goldman Sachs Group Inc. kept overall bonuses largely flat, though it raised spending on variable compensation for top-performing bankers, another person said.
(Jan 23): Global banks including Morgan Stanley and UBS Group AG are cutting investment banker bonuses in Asia after deals cooled, with senior employees taking the biggest hit, people familiar with the matter said.
The Asia ex-Japan bonus pool at UBS’s investment-banking unit fell about 14% for last year, while Morgan Stanley’s is about 9% lower, the people said, asking not to be identified because the matter is private. Citigroup Inc., which had its best fourth-quarter at the business since 2017, reduced its pool by about 6% as it zeroed in on costs, a person familiar said.
