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A report from the New York State Comptroller finds a spike in profits for 2016 but most firms are holding the line on compensation and bonuses.
The unexpected, post-election “Trump Bump” in financial markets and a pause in big regulatory settlements yielded a sharp increase in profits for securities firms based in New York City in 2016. However, these factors will most likely not translate into bigger bonuses for the foot soldiers of the securities industry, according to an annual report...
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