Goldman said compensation and benefits for its 40,000 staff rose by more than 17% to £3.3bn in total
Goldman Sachs increased pay and bonuses for staff by nearly a fifth in the second quarter after its profits were boosted by a recovery in dealmaking.
The bank said compensation and benefits for its staff rose 17 per cent to £3.3billion, taking this year’s total so far to £6.8billion, and reflecting its ‘improved operating performance’. Goldman Sachs employs roughly 45,000 people globally including 6,000 in the UK.
Profits for the second quarter were £2.3billion – ahead of market expectations and more than double the £940million in the same period a year ago.
Investment banking fees rose by 21 per cent with merger and acquisition fees up 7 per cent and big rises in underwriting of debt and stocks.
Chief executive David Solomon said: ‘We remain well placed to benefit from a continued resurgence in activity.’
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