In 2018, the government hired Korn Ferry, one of the world’s largest headhunting firms, to assess remuneration across banks that had been bailed out during the financial crash. The appointment came a decade after the state guaranteed the banking sector, which led to €64 billion of capital injections into it. The review was expected to eventually result in the return of bankers’ bonuses and the ending of salary caps, two measures that were introduced in the aftermath of the crash. However, despite spending €140,000 on the report, the government never published it. I’m told that Korn Ferry recommended abolishing all…
Don’t miss out on what is going on with our daily unique stories from our team of skilled journalists and insightful commentators. Members of The Currency get full access to over 4,000 exclusive interviews, investigations, and analysis, plus over 460 podcasts. Annual membership is just €200 for the first year, a saving of €100. Or try The Currency for the first month for a special introductory rate of €5, a saving of €20. Cancel at any time. To become a member today click here.
Join The Currency
INTRODUCTORY OFFER: Full annual membership for just €200.