British bankers would have flocked to the Netherlands were it not for the country’s bonus cap rules, the CEO of Dutch challenger bank Bunq has told the Standard.
Under local rules in Holland, bankers cannot receive a bonus greater than 20% of their fixed pay, a stricter application of the EU’s bonus cap rule introduced in 2014, in which variable pay could not exceed 100% of fixed pay, or 200% with shareholder approval.
