On Wall Street, sometimes the bottom shapes the top. Consider J.P. Morgan Chase & Co. (US:JPM) . On Friday, reports surfaced that two more executives, Irene Tse, one of the executives in charge of trading and Barry Zubrow, the bank’s regulatory affairs chief, will step down in the wake of the “London whale” trading scandal…
Wall Street’s job market remains down about 50,000 jobs from its peak of 860,000 in late 2007. So, the prospect of more job cuts and smaller bonuses comes in an already deflated market.
Bonuses are expected to be flat, according to the latest survey by compensation consultant Johnson Associates. The exception will be traders who will see gains of 5% to 20% from 2012.
MarketWatch / October 5, 2012