Barclays are coming under fire for the pay they awarded to a guy who made over a billion dollars profit for them.
As they should. He should've got a lot more for his work which made the bank profit of more than a billion dollars.
Jonathon Hoffman's contract apparently stipulated he was to be paid 12% of the first $25m of profits he made from trading and 14% on anything above.
In total he was paid $183m.
- "I never had a losing quarter, never had a losing year"
- Hoffman has said his style had "quite a bit of gut in it" and related to watching the way trades were flowing
- "I have no view on interest rates, no view on the curve," he told the Wall Street Journal. "I never speak to clients. I don't know who is on the other side of the trade."
