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Evercore cuts banker pay by 27% as dealmaking slows
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Boutique investment bank Evercore cut banker compensation by nearly 30% in the third quarter as dealmaking fees slumped in line with a broader slowdown.
The bank paid out $355.8m in compensation during the third quarter, a decline of 27% as it put less money aside for bonus payments. Evercore's compensation costs hit $1.2bn for the first nine months of 2022, a fall of 5%, with average payments slipping to $543,750 in 2022 from $661,353 for the same period last year.
While...
Read more on fnlondon.comAbout this in other media
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