Millionaire managers are increasing in the Italian banking system while Great Britain is losing slightly due to Brexit.
In 2019, according to the European Banking Authority (EBA) report on salaries for “high earners”, CEOs with salaries exceeding €1 million (the figure includes basic salary, bonuses and social security contributions) increased by 17% in Italy, from 206 to 241 , sharing a total cake of 419 million euros.
In the European Union (the data includes Great Britain for the last time) millionaires remained basically stable, increasing by 0.5% to 4,963, of whom 70.9%, equivalent to 3519, are concentrated in the United Kingdom.
In Italy the largest increase
The increase in the number of bankers “to six zeros” in Italy is the most consistent among large European countries, recording +17% against +15.3% in France (from 234 to 270) and +9.3% in Germany (450 to 492).
Great Britain down slightly
Nearly a hundred of Britain’s top bankers left before it left the European Union. The country remains firmly in the lead with 71% of the 4,963 bankers in the highest wage category across the bloc in 2019, a sign that London remained Europe’s largest financial centre, with a total of 380,000 people. With a decline in the share of large bankers (-2.6%). Brexit,” writes the EBA. Most of the bankers who earn the most income in the EU reside in the major financial centers of Frankfurt, Paris and Milan, with one and two other numbered locations: the EU set a cap on bankers’ bonuses in 2014 by setting it By doubling the base salary with shareholder approval, a measure Britain opposed at the time but left it intact so far after Brexit.
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