Goldman Sachs could pay its chief executive a bonus of up to $100m in defiance of moves by President Obama to take action against bloated bank benefits.
Bankers in Davos for the World Economic Forum (WEF) believe Lloyd Blankfein and other top Goldman bankers outside Britain will receive some of the bank's biggest-ever payouts, The Times reports. A banker at one of Goldman's rivals says: "This is Lloyd thumbing his nose at Obama." The world's richest investment bank is becoming the focus in a political and financial showdown over payment of what the US President has called "shameful" multi-million-pound bonuses. In 2007, Blankfein took home $67.9m in his biggest bonus so far. His bank's profits last year were $1.8bn higher than in 2...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes