Bank Of America Is Cutting Its Trader Bonus Pool Up To 10%

Brian MoynihanREUTERS/Arnd WiegmannBank of America CEO Brian Moynihan.

It’s starting to look like a pretty dismal bonus season on Wall Street with trading revenue down across the board.

Bloomberg News is now reporting that Bank of America, the second-largest US bank, is cutting its bonus pool for equity traders by as much as 10% compared to the previous year, according to unnamed sources.

Earlier this month, it was reported that Citigroup is cutting its bonus pool for fixed income and equity traders by 5 to 10%.

2014 wasn’t pretty.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at