Posted on April - 22 - 2010
Goldman Sachs staff share £3.5bn pot
Investment bank Goldman Sachs has announced a pay and bonus pot of £3.56bn as it posted a steep hike in profits for the first three months of the year.
Goldman is the subject of a UK regulatory investigation in the wake of US fraud claims. It employs 5,500 people in Britain and said its performance in the first quarter of this year reflected “more signs of growth” in the economy.
US regulators have started a civil lawsuit against the investment bank, alleging that Goldman failed to disclose that one of its clients helped create – and then bet against – sub-prime mortgage securities that Goldman sold to investors.
Staff at the bank, which paid out $16.2bn (£10 bn) in compensation and benefits for 2009, will not receive the latest bonanza until next year.
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