Stephen Green, chairman of Britain's biggest bank HSBC, has thrown his weight behind the financial regulator's proposals to rein in the City's excessive bonus culture, The Telegraph reports.
Speaking at a seminar on sustainable investment, Mr Green said: "There is now a growing demand, even within the industry let alone beyond it, for an approach to compensation which is more responsible." Critics have argued that bonuses were partially responsible for the financial crisis and the issue is gaining currency with politicians. Prime Minister Gordon Brown said on Tuesday that rewards should be based on "hard work, effort and enterprise" not on "short-term speculative deals". WARREN BUFFETT, THE billionaire investor who foresaw the credit crisis, described the turmoil in the fina...
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