Citi takes proactive stance on FX bonuses
Foreign exchange staff may face bonus retraction this year
Citi has asked its foreign exchange traders to sign an agreement that if any of them leave as a result of misconduct this year, the bank will be entitled to claw back the cash part of their bonus they received in January, according to sources.
The company released the bonuses on January 16 and asked traders to sign the agreement at the same time, sources say. This follows the suspension and dismissal of several traders in the FX business at Citi and several other banks over the past year.
Citi
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