The bonus payments to bankers once again are hotly disputed in Switzerland. Doing away with such variable forms of compensation is not under consideration in the country even though some foreign companies have shown this to be a viable option.
Handelsbanken is a Swedish bank providing with global banking solution. The services provided by Handelsbanken includes: Traditional corporate transaction,investment banking $20 Bonus + 25% OFF. The main takeaway, according to him, is that Handelsbanken has managed to create 'a very strong culture organisation,' which, if done properly, is a more potent way to generate long-term profits than a bonus programme.
Handelsbanken Casinos 2019. Handelsbanken is one of the largest banks in Sweden, covering the needs of both consumers and businesses within the country. In recent years, Handelsbanken has been spreading to other areas of Europe. Members of Handelsbanken who play at certain online casinos can transfer funds directly from their accounts to deposit. The main takeaway, according to Campbell, is that Handelsbanken has managed to create “a very strong culture organization,” which, if done properly, is a more potent way to generate long-term profits than a bonus program. “People are naturally motivated,” he said. “That’s very different than the assumption that many leaders make.”.
The annual bonus discussion may turn out to be a particular heated one this year. Last year, Credit Suisse and GAM faced shareholder revolts over the payments of their top executives. Meanwhile, Sergio Ermotti, the CEO of UBS, is in the news as Europe’s best-paid banking boss.
UBS for 2017 at least had an operative improvement to report. Credit Suisse by contrast faced another whopping loss, this time round because of the tax policies of U.S. President Donald Trump. And yet, CEO Tidjane Thiam was unequivocal about his intention to pay the management (and himself) a handsome bonus.
Fat-Cats or Talent Worth Every Penny?
The Swiss banking staff association (SBPV) has not wasted any time to raise its voice against what it says are over-the-top variable compensation. Shareholder representatives, major investors and politicians will likely follow their lead as soon as the major banks published their bonus packages.
Fat-cats and rip-offs – or in the German lingo «Abzocker» – are what one side will decry. Banks by contrast will claim that they can’t get the best without paying proper compensation. The regulation books on variable payments will sure receive additional entries as a consequence.
Looking Elsewhere for Inspiration
The two sides are in for some tough months with little to gain for any of them. Can we play bingo online with friends. How about looking at the alternatives instead? How about receiving an attractive fixed salary and receiving a handsome reward after decades of dutiful service? Without having to feel like a pariah?
It’s possible – Sweden is where it happens. Svenska Handelsbanken, one of the country’s most prestigious institutes, is doing just that: it pays almost only fixed wages. The salary has nothing to do with how the bank does in any particular year. Bankers receive their bonus once they reach the age of 60, according to a report by «Bloomberg».
It Works – Without Bonuses
This has nothing to do with Sweden’s acclaimed welfare state. And Handelsbanken is not just any bank, it’s shares have doubled in value over the past ten years.
Shareholders seem not to bother if a bank decides not to pay bonuses. When Allied Irish last year listed its shares, they sold out and the stock has added in value since. And this even though Irish bank haven’t paid any bonuses since the financial crisis and capped their salaries at 500,000 euros.
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Another special case. In a way it seems pretty evident that bankers who are well paid and in for the long run are interested in minimizing risks for the company and shareholders. Bonuses by contrast tend to prompt short-term shareholder value, but equally lead to higher risk-taking within the company.
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Considering the fact that two out of three of the well-paid bankers in Europe have influence over risk-taking, bonuses may not seem the best form of compensating the staff of banks.