美國投行“頂風(fēng)”發(fā)放現(xiàn)金獎(jiǎng)金

Lazard nearly tripled its compensation costs in the fourth quarter as the 162-year-old investment bank broke from Wall Street's new-found emphasis on deferred cash pay-outs, the bank said yesterday.

Lazard昨日宣布，第四季度薪酬成本增加近2倍。這家擁有162年歷史的投行由此背離了華爾街近期對延期支付現(xiàn)金獎(jiǎng)金的注重。

Banks such as Goldman Sachs and Morgan Stanley have sought to make employees more accountable for risks by paying them in future years once the outcomes of the banks' deals are better understood.

高盛(Goldman Sachs)與摩根士丹利(Morgan Stanley)這樣的投行都試圖讓員工對風(fēng)險(xiǎn)承擔(dān)更多責(zé)任，因而決定在未來交易結(jié)果更加明朗的時(shí)候支付獎(jiǎng)金。

Lazard, which makes most of its income from advisory and asset management fees and received no government help during the financial crisis, moved the other way, eliminating deferred cash as part of compensation.

而Lazard走上相反的道路，不再將延期支付現(xiàn)金作為薪酬的一部分。Lazard的大部分收入來源于咨詢與資產(chǎn)管理收費(fèi)，在金融危機(jī)期間并未獲得政府資助。

The bank is also accelerating the payment of deferred cash awarded in 2008, and speeded up the vesting of restricted stock promised to former chief executive Bruce Wasserstein, who died in October.

該行還加速了2008年延期支付現(xiàn)金的發(fā)放，并加快支付向前首席執(zhí)行官布魯斯•瓦瑟斯坦(Bruce Wasserstein)承諾的限制性股票。瓦瑟斯坦于去年10月去世。

The actions resulted in a fourth-quarter loss of $142.4m, or $1.64 a share. Even excluding one-time charges, Lazard's results fell short of analysts' expectations. In the same period of 2008, the bank earned $38m, or 50 cents a share. Its shares slipped $1.49, or 3.6 per cent, to $39.53 in midday trading.

這些行動(dòng)導(dǎo)致該行第四季度虧損1.424億美元，合每股1.64美元。即便刨去一次性費(fèi)用，Lazard的業(yè)績也不及分析師的預(yù)期。2008年同期，該行盈利3800萬美元，合每股50美分。昨日午盤，該行股價(jià)下跌1.49美元，至39.53美元，跌幅為3.6%。

Lazard argued that its new compensation policies would clarify its earnings outlook for investors and help it recruit bankers from rival firms.

Lazard辯稱，新薪酬政策將向投資者澄清其盈利前景，并有助于從對手公司挖來銀行家。

“We take no risks that threaten our firm,” Ken Jacobs, Lazard's chief executive, told the Financial Times. “Without question, the kinds of things we've done position us competitively to attract and retain great people.”

“我們不會冒對公司構(gòu)成威脅的風(fēng)險(xiǎn)，”Lazard現(xiàn)任首席執(zhí)行官肯•雅各布斯(Ken Jacobs)表示。“毫無疑問，我們采取的行動(dòng)使我們在吸引和保留出色人才方面獲得競爭優(yōu)勢。”

Fourth-quarter net revenues jumped 32 per cent to $494.8m on strong gains in restructuring advice and asset management. Compensation costs rose to $615.5m.

由于重組咨詢和資產(chǎn)管理業(yè)務(wù)收益豐厚，該行第四季度凈營收增加32%，達(dá)4.948億美元。薪酬成本上升至6.155億美元。

譯者/管婧