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BP Holding Tax Management: Tax-free bonuses disappoint

A talk by alenkaberg

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May 12, 2014 1:00 AM

Germany

Germany

Bankers and other financial professionals in the Middle East are seeking new jobs even as those reporting an increased bonus for 2013 were higher than in other global financial centers, according to eFinancialCareers.

Almost 60 percent of the region’s financial services employees plan to change position this year, with 45 percent saying they were disappointed with their bonus, eFinancial said in a report. Bonuses rose for half of Middle East finance professionals, compared with 49 percent in the U.K., 47 percent in the U.S. and Hong Kong and 42 percent in Singapore.

Dubai, which teetered on the brink of default in 2009, is rebounding as equity and property markets soar. Banks including Goldman Sachs Group Inc. and Renaissance Capital are boosting teams in the region and hiring bankers from the competition.

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