Bonuses rise 17% at Goldman Sachs as profits boosted by recovery in dealmaking
Goldman said compensation and benefits for its 40,000 employees rose more than 17% to a total of £3.3 billion
Goldman Sachs raised staff pay and bonuses by almost a fifth in the second quarter as profits rose on a recovery in dealmaking.
The bank said compensation and benefits for its staff rose 17 percent to £3.3 billion, taking the total so far this year to £6.8 billion, reflecting “improved operating performance.” Goldman Sachs employs about 45,000 people globally, including 6,000 in the UK.
Second-quarter profit was £2.3bn – ahead of market expectations and more than double the £940m in the same period a year ago.
Investment banking costs rose 21 percent, while mergers and acquisitions costs increased 7 percent and debt and equity underwriting surged.
Chief Executive David Solomon said: “We remain well positioned to benefit from a continued upturn in activity.”
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