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Rising compliance costs eat into RM bonuses

Private bankers’ annual bonuses have dropped by as much as 15% as a direct result of compliance costs eating into banks’ bottom lines, headhunters tell Asian Private Banker. “The drop in bonuses for relationship managers (RMs) is largely because of a rise in compliance costs,” says one Singapore-based headhunter for covering the wealth management space. “Large private banks with assets…

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