No more ‘rewards for failure’, experts urge

Banks should clamp down on “rewards for failure” and structure bonuses so they can be claimed back in the event of losses, experts told the Treasury select committee last week.

Taking evidence from eight experts on the future of City reward, including Charles Cotton, CIPD adviser, reward, the committee agreed that a reform of bonuses was needed in the wake of the financial crisis but differed on how to achieve this.