A bank just paid zero bonuses and put this female MD at risk

efinancialcareers.com:

As we reported earlier this week, there have been squeaks of lamentation from Instinet. The institutional agency broker which acts as Nomura's equities trading arm announced its bonuses this week, and they were not so good.

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It now appears that they were in fact zero. Nomura declined to comment, but multiple sources say that the bonus pool was zeroed and people were let go.

Seema Arora, a managing director and Instinet's head of execution sales for Europe, is understood to have been put at risk of redundancy. Arora joined Instinet from Kepler Cheuvreux in 2019 and previously spent six years as head of execution sales at JPMorgan.

She's thought to have gone with two people from her team.

Instinet's poor bonuses come after the bank hired Gerry Milligan as president and head of the Americas from Credit Suisse last November. There are understood to be some complaints internally about new recruits who arrived on guarantees.

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