Bank giant Goldman rewards staff with €11.4bn



Press Association
January 19, 2011

Wall Street banking giant Goldman Sachs revealed today that staff earned a total of $15.4bn (€11.4bn) in pay and bonuses last year.

The total figure represents a 5pc decline on the previous year’s pot, but the share of revenues paid out in salary and benefits for 2010 was up from 35.8pc at 39.3pc.

The firm posted a 38pc drop in net earnings to $8.35bn (€6.2bn) for the year to December 31. This followed a 13pc decline in revenues to $39.16bn (€29bn).

Goldman Sachs took $10bn (€7.4bn) from the US Treasury at the height of the financial crisis but has since paid the money back, with taxpayers earning $1.4bn (€1.03bn) on the investment.

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