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Larry Fink: BlackRock To Lower Trading Fees

BlackRock invests in technology to slash billions it pays in commissions and trading fees.

Source: emii.com

Annual compensation worth $100 million is too much for any banker, said Citigroup CEO, Vikram Pandit, Reuters reports. The bank’s trader, Andrew Hall, is contractually entitled to a 2009 pay package that could be close to $100 million.

Citi received over $45 billion in government bailout in two separate transactions last year. The bank is still believed to be offering multi-million dollar guaranteed bonuses to some new employees.

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