The Bottom Line: If Mr Cable has his way...
While there may have been a sharp intake of breath at the news that the EU has passed legislation capping bankers’ bonuses, my view is that this will have little impact on the investment banking hiring environment. It was pretty obvious soon after the election that the new coalition had softened its stance on banks somewhat and so the new legislation, at least as far as the investment banks are concerned, isn’t really that draconian.
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