Wall Street Push to Loosen EU Banker Bonus Cap Spooks Rivals (1)

The biggest US lenders are pushing for a loosening of the European Union’s cap on banker bonuses to become part of a wider set of reforms focused on boosting the continent’s competitiveness, stoking tensions with their overseas rivals.

Firms including Goldman Sachs Group Inc., Citigroup Inc. and JPMorgan Chase & Co. are pushing for Europe’s finance lobbyists to take up the cause of the remuneration rules in their contributions to the EU’s upcoming review of its banking rulebook, according to people familiar with the matter who asked not to be identified because the discussions are confidential.

The UK has ...