Chinese brokerage CICC cutting investment banking base pay by 25%

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China International Capital Corporation (CICC) is a Chinese multinational investment management and financial services company. Its owned in part by state interests.

Base pay investment bank salaries are to be cut, by up to a quarter. Will impact around 2,000 staff.

Factors cited include:

  • cost reduction
  • slow economy
  • reduction in IPOs
  • Beijing’s austerity drive (Chinese Communist Party attacking the ‘elites’, preferring ‘common propserity’)

Info via Reuters report.

This article was written by Eamonn Sheridan at

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