By Elena Logutenkova
Nov. 28 (Bloomberg) -- Citigroup Inc. Chairman Win Bischoff said changing bankers’ pay to include more stock and longer-term awards will fail to stop the industry racking up losses.
“By itself, more share and retention-based compensation is not the magic bullet because it certainly didn’t stop us from running up very large losses,” Bischoff, 67, said at a Swiss- American Chamber of Commerce event in Zurich today.
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