Canadian Bank Bonuses May Jump 50% on Rebound, Vlaad Says

[Joanne98]

Source: Bloomberg


Nov. 27 (Bloomberg) -- Investment bankers at RBC Capital Markets, TD Securities and other Canadian firms may see bonuses jump as much as 50 percent from last year after record stock sales and a surge in mergers fueled bank fees, a recruiter said.

“There’s been lots of M&A activity, lots of new issuance, the mining space is still hot and gold’s at a record,” said Bill Vlaad, president of Toronto-based Vlaad & Co. “The banks, as a group, are going to come in well above last year’s numbers.”

Canada’s senior bankers may get increases of as much as 50 percent, while junior bankers may get 10 percent more in 2009, Vlaad said. Bonuses in 2008 were the lowest in about five years. Vlaad’s forecast is based on information gathered from hiring managers and other participants in Canada’s capital markets.

Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co.’s New York-based investment banks are set to pay record combined bonuses this year. The firms will hand out $29.7 billion, according to analysts’ estimates, up 60 percent from last year and more than the previous high of $26.8 billion in 2007.

“Investment bankers can expect bonuses to be definitely higher, but they’re coming off a lower number,” said Vlaad, whose company compiles an annual compensation survey on Canadian financial-services firms. “We’re still not going to see the numbers from 2007.”


Read more: http://www.bloomberg.com/apps/news?pid=20601082&sid=a9rE.Q68jM88

[Captain Hilts]

1. It's all those Toronto Dominion branches being built all through the Wash DC area. nt

[Spazito]

2. Due to retaining stringent regulations on our banks...

there was NO taxpayer bailout needed nor given. The minority government of CRAP began working to de-regulate them but the shit hit the fan in the US before they could accomplish it, so far anyway.