Cuts to pay and perks trigger flight from China's state banks

April 26, 2015 3:00 AM

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SHANGHAI/HONG KONG, April 26 (Reuters) - Bankers at China's top state lenders are quitting in increasing numbers because of cuts to their pay and perks, and moving to a new breed of financial firms such as leasing companies, trusts and online platforms, bankers and headhunters say.

As part of an austerity, anti-graft drive, Beijing last year dictated pay cuts of up to a half for senior-level state bankers. Some state-owned lenders have since quietly cut salaries across the board.

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