Compensating for Good Relationships

Fest, Glen
June 2005
Bank Technology News;Jun2005, Vol. 18 Issue 6, p51
Trade Publication
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.


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