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  • 1,000 UK bankers hit exits over pay

    12/09/2009 8:44:21 PM PST · by CutePuppy · 20 replies · 868+ views
    NY Post ^ | December 7, 2009 | Paul Tharp
    In a London preview of Wall Street's bonus nightmare, more than 1,000 investment bankers have quit Royal Bank of Scotland to work at rivals due to curbs on their paychecks, according to people familiar with the situation. Wall Street banks fear top talent would flee en masse for greener pastures if Uncle Sam's pay czar, Ken Feinberg, and Congress try to put more ceilings on bonuses and pay at financial firms. In the UK, the rules are modeled after US actions to curb pay at firms bailed out by the government.RBS will soon be about 84-percent owned by the British...