London’s Currency Traders Set for Biggest Bonus Decrease

Foreign-exchange traders in London are set for the biggest drop in bonuses among bank employees as regulators toughen scrutiny in the wake of scandals, according to a survey by Emolument.Currency traders are likely to see a 43 percent decline in payouts for 2014, compared with a 41 percent jump projected for colleagues on commodities desks, according to estimates by the salary benchmarking website. The average bonus paid to currency and commodities traders for last year was 134,000 pounds ($218,000) and 106,000 pounds, respectively, it said.

This article was published in Bloomberg, 18th September 2014