JPMorgan Executive Urges Europe to Scrap Limit on Banker Bonuses

A top JPMorgan Chase & Co. banker urged the European Union to follow the UK in scrapping a cap on bankers’ bonuses, saying the bloc risks falling behind other regions in the global race to roll back regulations.

“It would make sense for the EU to align with the UK’s recent decision to remove bonus caps,” Matthieu Wiltz, JPMorgan’s EMEA co-head, said in an interview in Paris. “The continent is the outsider now.”

The cap, introduced in the wake of the financial crisis, limits bonuses at the equivalent of bankers’ annual salary in the EU, although lenders can seek ...