JPMorgan Chase & Co. and Goldman Sachs remove London staffers' bonus cap, allowing up to 10x base salary.

JPMorgan Chase & Co. is joining Goldman Sachs in removing the cap on London staffers' bonuses, allowing bankers to earn a bonus up to 10 times their base salary. This move comes after the UK government removed local pay restrictions for bankers. The bank plans to maintain current staff fixed pay and total compensation is not expected to differ significantly for most employees affected by the change.