Dutch Minister Warns of Fintech Exodus Over Banker Bonus Cap

Finance Minister Eelco Heinen warned Dutch lawmakers that the country’s limits on bonuses paid to bank employees are inadvertently driving fintech companies out of the Netherlands.

The firms are struggling to hire IT staffers because they’re competing with companies in other industries that don’t face the same restrictions, Heinen said.

Eelco Heinen

Photographer: Simon Wohlfahrt/Bloomberg

“We already knew that the financial sector was being hamstrung by investments not being made, by companies not establishing themselves here because of the financial regulations,” he said in a parliamentary debate Thursday. “But we are also seeing parties leaving. And I see that mainly in the fintech sector.” ...