TITLE

Compensating for Good Relationships

AUTHOR(S)
Fest, Glen
PUB. DATE
June 2005
SOURCE
Bank Technology News;Jun2005, Vol. 18 Issue 6, p51
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that banks are incenting salespeople to create new accounts, but some of the funds are merely transferred from certificate of deposits closed at the same bank. For instance, an institution that brought in a Peter Djokovich, CEO of incentive-management program outsourcer Strategix Performance to map out problems with bonuses paid to boost annuities and mutual funds. Investment side workers at the institution chased the juicy carrot, and rolled a nice sum of revenues into the division and into their pockets.
ACCESSION #
17400408

 

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