Pay freeze at Kleinwort Benson
Friday 20th February 2009, 2:59PM GMT.
STAFF at Kleinwort Benson in Jersey and Guernsey have been told not to expect bonuses or salary rises this year.
German parent company Commerzbank yesterday announced its decision in the wake of the financial market crisis.
The decision will affect around 500 staff in the Channel Islands, as well as workers at Kleinwort Benson offices around the UK.
The wealth management firm changed ownership in September when insurer Allianz SE sold parent group Dresdner to rival Commerzbank.
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