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Bailed-Out Banks Ramp Up Pay Packages To Top Talent

July 16th, 2009, 12:07 pm admin Leave a comment Go to comments

Some big banks that have received government bailouts in the U.S. and Britain are offering handsome pay packages to lure stars and reverse last year’s steep losses.

Bank of America Corp. recently hired a top bond salesman with a guaranteed two-year deal valued at about $6 million for the first year, people familiar with the matter say. Citigroup Inc. offered nearly $2 million in an attempt to recruit a top brokerage executive.

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