Page 2158 

LATEST

Goldman Staff Have The Last Laugh On Bonuses

Goldman Logo

They've called it the $30bn speech - that's the value wiped off shares in top US companies in the minutes after President Obama announced on Thursday that he was to introduce measures to reduce the size of financial institutions and limit their ability to take on risk.

Goldman Said To Have Driven Hard Bargain

Bloomberg reports that, according to documents obtained by US lawmakers, Goldman Sachs 'was the most aggressive bank counterparty to AIG before its bailout, demanding more collateral while assigning lower values to real estate assets backed by the insurer'.

Goldman Said Capping London 'Partner' Compensation At £1m ($1.6m)

The Times reports that Goldman Sachs is capping compensation for its 100 London-based Managing Director Partners at £1m ($1.6m). Many other less senior bankers, however, will be paid out in excess of this amount. Under FSA guidelines, a minimum of 60% of bonuses over $1.6m will need to be paid out in deferred equity.

Compensation & Other News

The Wall Street Journal reports that John Havens, who runs Citi's investment banking unit, was the company's highest-paid employee last year - bagging $9m, primarily in restricted stock.

The One Bonus Story You Really Have To Read

Hand over Money

We've done a lot of stuff recently on bonuses (hey, it's that time of year), but a lot of interesting reporting came out over the weekend on this subject, and we thought it would be good to put it all together for you.

Top Firm Said Capping Cash Bonuses At Below $100,000

Unhappy Vikram Pandit

The Financial Times reports that Citigroup is set to cap cash bonuses at below $100,000 (the rest would be paid in deferred equity), as it balances the needs of the organisation to retain key staff and the ire of the US taxpayer, which was standing behind multiple bailouts of the firm over the last 14 months or so.

Top Firm May Shortchange London Staff On Bonuses

Hand over Money

Bloomberg reports that Credit Suisse plans to spread the cost of the UK's bank payroll tax on to shareholders and staff around the world, but the news agency has been told that the bank intends to land London-based staff with paying 'the biggest share' of the tax, as this would 'yield the largest tax savings'.

Goldman Staff In Bonus Dark As Regulator Said To Block Payouts

Goldman Logo

Reuters says that there are press reports circulating to the effect that Goldman Sachs has had to delay telling employees their bonus numbers. Bonus announcements are said to have been originally planned for Monday, but they are now thought to have been pushed back, and staff may not now be told until the end of the month.

HOT LIST

FEATURED