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The economic downturn is likely to result in substantial changes to compensation and benefits structures in many industries globally. However for the banking sector, where the financial crisis and subsequent government bail-outs have produced significant restructuring and organizational changes, the whole shape of compensation strategy is being fundamentally redefined, with a focal shift necessary in the way the banking industry approaches incentives and reward. What is the financial services sector doing about executive compensation and bonuses now that the whole functioning of the financial markets have changed for good, and in several cases, government is playing a major shareholder role for the first time? While individual banks have had to restrict the size of the cash bonus pools, longer-term, more bearable strategies must now be thought-out across the industry. This intensive one-day Summit will get compensation professionals in the banking industry on a faster track to developing creative, yet timely solutions for remunerating and incentivizing their executives in the new economic environment.
For investment banks, and financial services across the board, the world has significantly changed since the onset of the financial crisis. Moving forward, all those involved in the industry now need to understand how business will be structured in the months and years ahead. If banks are expected to evolve to become lower-risk as organizations, and potentially with a lower capital base, this type of shift will profoundly effect the way a bank or financial institution decides to compensate and incentivise its’ executives.
The Summit will bring together international participants from both sides of the regulatory fence for a global discussion on international remuneration strategies. As well as banks hearing how government and regulators intend to influence banking operations and strategies, the Summit will offer a 2 way interaction, as regulators also recognise that its important to learn what’s going on in their industry and what they can do to help. The Summit will provide a useful opportunity to determine the approaches and the angles from the global regulatory community, gain insights into the legislative, statutory and social framework for banking and learn how remuneration policies will subsequently need to be structured.
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| London Business Conferences are hosting a special, one-day, roundtable-style Summit on Reward Strategy and Executive Compensation . . More |
David Raikes, Manager, Banking Sector , Financial Services Authority
Neil Hayward, Head of People Strategy and
Product Management, Standard Chartered
Alexander Zerkowitz, Human Resource Director, Raiffeisen LB STMK
Bernard-Franck Guidoni-Tarissi, Director, Executive & Senior Management Compensation, Fortis
Bruno Carlier, Head of Compensation & Benefits, BNP Paribas
Peter Hahn, Ph.D,
Academic Fellow, Faculty of Finance, Cass Business School
Charles Cotton, Reward Specialist, CIPD
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