ANZ’s fixed income sales and trading desk has had its corporate travel budget capped at $150,000 this financial year, The Australian Financial Review understands.
The decision to cap the travel budget comes as global banks weaken bonus pools and conduct layoffs to trim their expenses in what is expected to be a slower year for dealmaking across M&A and capital markets.
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Aaron Weinman is a correspondent at The Australian Financial Review who covers investment banks, private equity firms and the broader capital markets. Connect with Aaron on Twitter. Email Aaron at aaron.weinman@afr.com
