Banks need more time to reform pay standards: IIF

city of london

Despite progress in the reform of pay structures and governance standards in compensation, banks have a lot left to do, an influential financial sector lobby group said on Thursday.

The Institute of International Finance said results of its survey on compensation reform showed banks would need more than another year to "better align their performance metrics and to devise compensation payouts which are more consistent with the risk time horizon" of their operations.

It added: "The industry will

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