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"Banks had already changed the way they paid staff to take account of the code, including increasing base salaries and bonus deferrals."

 

STEPHEN BROOKS, EXPERT IN PEOPLE MANAGEMENT,  PA CONSULTING GROUP

Pressures grows on UK banks to cut costs

The Daily Telegraph
Harry Wilson
16 August 2011

 

PA Consulting Group’s Stephen Brooks has been quoted in The Daily Telegraph. Stephen, an expert in people management, gives his view on PA and City HR’s survey of senior banking executives.

The PA survey warns that the UK's new remuneration code was likely to drive business out of the country.

The Telegraph reports that: "The survey of senior executives at 50 UK and international banks found that 58pc thought the Financial Services Authority's pay code would make it easier to attract staff away from London, while 82pc agreed that it would weaken the competitiveness of the UK."

Stephen Brooks said many banks had already changed the way they paid staff to take account of the code, including increasing base salaries and bonus deferrals."


You can read the article in full here.


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