Investment Banks Cut Compensation Ratios

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At least seven of the biggest global investment banks reduced the pay they doled out to their employees last year relative to revenue, according to their financial results.HSBC Holdings PLC cut its investment-bank compensation-to-revenue ratio to 22%, from 36% in 2008; JPMorgan Chase & Co. cut its to 33% from 62%, and Royal Bank of Scotland Group PLC’s shrank to 27% from 76%.

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