Goldman Sachs' London chief pockets £9m bonus

The US bank's share award to joint head Michael Sherwood was revealed in American regulatory filings last week, the Sunday Times reports. His bonus, which will not be paid out in full until 2016, even dwarfs that of Lloyd Blankfein, Goldman's chief executive, who will rake in £7.9m plus a 330% rise in his basic salary. Sherwood's hefty payout comes despite the firm posting a 38% drop in net earnings for the year to 31 December and a 13% decline in revenues. The bank, which employs around 6,000 staff in the UK, is trying to rebuild its reputation here after it was fined £17.5m by th...