Hambros slashes bonuses

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The Independent Online
Hambros slashes bonuses

Hambros slashed its bonuses for 1994, according to the annual report, with Lord Hambro, chairman, receiving nothing after a pounds 25,000 bonus last year. The chairman's total emoluments went down from pounds 181,000 to pounds 142,000, while the highest-paid director's total benefits fell from pounds 679,000 to pounds 543,000. The merchant bank recently announced profits for the year to March 1995 of pounds 37.1m, down from pounds 87.8m last time. It was also announced yesterday that Peter Large, managing director of corporate finance at Swiss Bank Corporation, and a fellow director, Russell Hart, have left to join Hambros.

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