“An unintended consequence [of the new accountability rules within the senior managers regime] would be people taking a view on their base pay, and the senior managers could see that increased as they take on more personal liability,” said Scott Vincent, managing partner of Parker Fitzgerald, a financial risk and regulatory consultancy.
“The responsibility maps are key as they’ll identify where the shortfalls are in senior management,” Vincent also said. “Those gaps are likely to grow as there’s less of an incentive to be a banking executive now, and one of the ways of addressing that is by raising pay.”
You can read the full article on Bloomberg here.
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