Some MDs in Global Markets do not deserve their pay. Higher salary means more responsibility. Managing directors should be responsible for trading revenue down. Should rank MDs by revenue contribution and get rid of bottom ones.
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You will always need a high level SVP or Director to manage all those Indian teams. They need supervision as well as someone high up to impress and bend over backwards for doing all kinds of unnecessary things that just glorify the hierarchy and all those higher up in the corporate structure.
How about CTO executives? So many CTO executives in global market for no reason. They should combine all together and get rid off few CTO executives from sub lobs.
Front office MDs in trading get paid more than 500 grands, their business result should justify their big pay. Especially those MDs stayed many years but still haven’t produced much revenue. They are only good at one thing : find excuses.