Bank sets aside $16.7bn for bonuses
Investment banking giant Goldman Sachs said today it had set aside a US$16.7bn (€11.22bn) so far this year in pay and bonuses as it revealed a 278% leap in profits.
The group revealed a 46% hike in the compensation and benefits pool for the first nine months of the year.
The bumper rewards news comes after Goldman made net earnings of $3.19bn (€2.14bn) between July and September, up from $845m (€568m) in the third quarter of last year.
