Coronavirus containment efforts probably will bring on a recession, slashing Wall Street bonuses, a compensation consultant forecasts
Ted BunkerPrivate-equity firms and the rest of Wall Street could see a 30% to 40% drop in bonuses as the coronavirus bites into everything from asset values to deal flow, a compensation consultant predicted Wednesday.
“The virus is heading us toward a nasty recession,” said Alan Johnson, managing director of Johnson Associates in New York. His firm predicted banks, brokers and asset managers would slash bonuses this year, following a mixed performance in 2019, when private-equity firms held bonuses level or raised them as much as 5%...
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