After two tough years, most big Wall Street and City of London firms are expected to post higher profits this year. It is early days but average end-of-year bonuses are predicted to rise by about 20% at the larger firms.
But don’t expect a season of unalloyed goodwill. Investment bankers and traders look set to fight over the division of the spoils.
This is because the traders have brought home the lion’s share of revenue at most investment banks.
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