Goldman Sachs Raised 2012 Pay for Top U.K. Bankers Amid Cuts
This article is for subscribers only.
The average pay for Goldman Sachs Group Inc.’s top U.K. bankers rose 77 percent in 2012 even as it declined at U.S.-based peers amid calls from governments and the public to reduce executive compensation.
Goldman Sachs paid an average of $4.67 million in 2012 to U.K. employees deemed by regulators as risk-takers, as well as their managers, up from $2.64 million in 2011, according to figures disclosed by the firm. For similar staff at Citigroup Inc., average pay climbed 9 percent to $2.38 million. At Bank of America Corp. it fell 2 percent to $2.36 million, and at JPMorgan Chase & Co. it slid 3 percent to $3.4 million, totals disclosed separately show.