UK tops millionaire bankers league table

There are more than 2,000 millionaire bankers in the UK, according to research by the European Banking Authority (EBA).

Its High earners 2010 and 2011 data, which looked at the remuneration of European Union (EU) bank staff who received €1 million [£865,260] or more in total in 2010 and 2011, found that the UK has the highest amount of top earners in Europe.

In 2011, the UK had 2,436 high earners, while Germany had 170, France had 162, Spain had 125, Italy had 96 and the Netherlands had 36.

Of the 2,426 UK top earners, 1,809 worked in investment banking, 85 in retail, 182 in asset management and 360 in other areas.

The EBA will publish a more detailed report on remuneration practices in the EU at the end of 2013 as part of research into how new banking legislation, such as the proposed bankers’ bonuses, will impact upon European countries.