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"ICAP cut CEO Michael Spencer\u2019s bonus 75% after profit missed targets and the interdealer broker paid a fine to settle a probe by British and U.S. regulators into Libor-rigging.Bloomberg News reports that Spencer&amp;rsquo;s 2014 bonus will be reduced to &amp;pound;700,000 ($1.2m) in cash and shares from &amp;pound;2.8m ($4.7m) in the year-earlier period, the company said in its annual report today. His total compensation will fall to &amp;pound;2.2m ($3.7m) from &amp;pound;4.3m ($7.2m), ICAP said. Interdealer brokers such as ICAP act as a go-between for banks and profit when prices fluctuate because more traders use the products they trade. ICAP said last month operating profit declined 4% in the year through March as interest rates at record lows curbed volatility and banks scaled back their fixed-income, currency and commodity trading activities. To access the complete Bloomberg News article hit the link below: ICAP Reduces CEO Spencer's Bonus 75% After Settlement Morgan Stanley Sees ROE Climb on Brokers' Pay Ratio, CommoditiesAnd the Best Place to Work in the global financial markets 2015 is..."^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.hitc.com/en-gb/2014/06/11/icap-cuts-ceos-bonus-after-libor-fine/>