Citigroup has joined US rivals in changing its compensation structure after the UK scrapped the bonus cap put in place by EU regulators in 2014

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Citigroup sets bonus cap at six times salary in latest compensation shift

Investment Banking Editor

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Citigroup’s UK bankers can now earn bonuses of up to six times salary after the US lender joined rivals by scrapping long-standing restrictions on variable pay. 

The US bank told employees of its plans to scrap the EU’s bonus cap, which restricts payouts to 100% of salary and outlined the new structure for senior staff on 14 August, according to a memo seen by 

Citigroup scraps bonus cap at six times salary in latest compensation shift

Big banks are gradually changing their compensation structure after UK regulators ditched long-standing caps on bonuses

Paul Clarke

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