Bonus season promises to be a miserable one at European investment banks. Shrinking revenue will likely translate into double-digit percentage declines for many trading and investment banking teams at lenders including HSBC Holdings Plc, Deutsche Bank AG and Societe Generale SA, according to recruiters and executives. The tough landscape for Europe’s financial industry -- with restructuring at several firms, negative rates, hedge fund closures and costly technology upgrades -- has left many braced for steeper bonus declines than a year ago. While bonus pools won’t be finalized until after the end of the year, there ... (full story)