Even at Macquarie, its investment banking business logged ain global revenues in the 12 months to March 31, the bank said last month. Macquarie Capital head Michael Silverton’s total remuneration was slashed to $10.6 million from $16.8 million a year earlier.
That momentum, however, has stalled. Deal makers are now contending with higher rates and an associated dip in company valuations, for a start.Looking ahead, bankers are not confident their compensation will improve next year so long as market uncertainty persists and banks remain steadfast on cutting costs
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