Fees above 1 million euros
All work requires payment. What is the salary of 1 million euros per year? Have more difficult goals? It’s not necessary. This level of payment for 2021 is a unique year, which may not be repeated. 2021 will be an amazing year for financial markets. After being held at the global level, an economic recovery, which the world did not survive, explains this great increase. And the banks paid their successful executives a lot.
Societe Generale withdrew from Russia
Far from the ESG debate and from a questionable position of Société Générale for many years, the bank announced in red and black a financial loss of more than 3 billion euros related to its exit Russia. But on the other hand, the bank welcomes its employees and therefore has shown a real increase in the number of its million deposits for the year 2021. In its report published on Friday on the salary of the borrowers (The “Material risk takers” who entered the bank’s budget), some 111 banks, more than double in 2020 (44) have a total of one million million. It has not been heard since 2016. Of this number, 48 are worried in France (compared to 23 in 2020).
Like the smell of corruption with these SRI labels, ESG criteria, Article 8 (SFDR), these funds are marked to invest in Russia or China … Guardians, brave pigeons ?
The Banque de la Défense, which has been parsimonious in recent years, has significantly increased the bonus envelope for these investors last year. 569 employees received “promoters”, the majority of the budget, 197,3 million euros. Not even there, they are too small to share many things. This policy is defined by the bank’s historical results in the past year, particularly in its market activities.
Frédéric Oudéa himself, the CEO of Societe Generale, was given a salary of 3 million euros for 2021, an increase of 34% over a year.
BNP Paribas, rate hike
The same is the case at BNP Paribas, which broke its 2020 record during Covid. The bank registered 292 million bank accounts last year (compared to 222 in 2020), including 58 in France (compared to 36 in 2020). A high since 2014. A small number of bankers were given to register the amount of bonuses from the same day: 549,6 million euros were given to 1,214 people.
Barclays & Deutsche Bank, more generous
The two French banks are not far from different in Europe. Barclays stole the award for best bank from Deutsche Bank. Britain has 700 million bankers. Last year, it almost tripled its revenue, thanks to low interest rates and the performance of its investment bank. There is also now, like the German bank, in the United States, where the competition is very strong in terms of payment. So it represents two million million banks like BNP Paribas… even though it has a lower income than the French company (7.6 billion euros against 9.5 billion in 2021). For its part, Deutsche Bank, which has been relatively complacent in recent years, has been locked in a spin. The number of millionaire bankers fell by 24%, to 520. This number is higher than the number recorded in BNP Paribas, while the profit of the German bank was 3.7 times lower than its French competitor.
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