The vast majority of Diamond's pay comes in bonuses. His basic wage is about £250,000.
The recent BBC documentary, blogged on by Paul Penrose, revealed that much of the mis-selling and dubious practices carried out by the bank's employees is due to a culture of targets and bonuses.
I'm not accusing Diamond of any dodgy practice but when a company relies so heavily on bonuses and commision to get results there is a danger that ethics go out of the window.
28 Mar 2007 09:25 Read comment
There is a story in the Guardian about a money transfer system that has just been launched in Kenya. It was developed by Vodafone and allows people to send money to each other via SMS.
This is a country where 80% of the population don't have access to the financial sector but eight million have mobile phones so the service, called M-Pesa, may prove very popular.
Finextra also highlighted the potential for the system to be used by Kenyans living abroad to send money home.
22 Mar 2007 09:09 Read comment
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