by CIO UK Staff

JP Morgan Chase and Citi to pay bankers bonuses…Magners cider sales drop…Prudential exits Japan

Jan 14, 2010
Financial Services IndustryIT LeadershipIT Strategy

US banking giant JP Morgan Chase are set to announce a stack of bonuses for its bankers today, according to the Evening Standard. The first nine months of 2009 delivered profits of £5.2 billion as the bank had a successful year during the downturn. JP Morgan Chase acquired Bear Stearns in 2008. Bonus pay-outs at JP Morgan Chase JP Morgan Chase IT strategy in the CIO 100 Citigroup, a fellow US banker though said it will put a maximum cap on bonuses to its bankers of under $100,000, the FT reports. The newspaper says the bank is doing this to ensure that the US public do not turn against the banking giant which the US government has a 27 per cent stake in. Citigroup has a major base in Canary Wharf, London. Citigroup IT strategy revealed in CIO 100 Bonus cap for Citigroup bankers Cider brewers C&C, who distil both Magners and Bulmers cider has reported a slump in sales in the three months to November 30, 2009. The Dublin based company said British drinkers were turning away from cider.

Cider sales turn sour Magners adopt IT to improve the supply chain UK insurance group Prudential is pulling out of the Japanese market after eight years, the FT reports. The company said the highly competitive nature of the Japanese market forced its exit, but it will continue to honour the 170,000 policies it has in Japan. Prudential has been pursuing a strong outsourcing agenda to lower its costs, working with organisations such as Capita. Prudential outsourcing deal Japan pull out for Prudential