Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

Loan Protection: Goldman Sachs staff share £2.5bn remuneration pool

Goldman Sachs staff received a £2.5 billion remuneration package despite the company reporting huge losses.

The Wall Street firm confirmed that net income in the second quarter of 2010 fell to $613 million (£404 million), compared to $3.4 billion a year ago.

Profits were severely dented by the $600 million UK bonus tax and the US regulator's record $550 million fine to settle an on-going fraud case.

"The market environment became more difficult during the second quarter and, as a result, client activity across our businesses declined," said Goldman Sachs chief, Lloyd Blankfein.

Despite the losses, the average salary at the firm would still be $273,000 if this quarter's results were repeated throughout the year.

Goldman has increased the ratio of revenue it awards to employees, in spite of pressure from the US government to reduce this figure.

During the first quarter of this year, 43 per cent of all income was awarded to staff.

Posted by Amir Hussain

Amir specialises in personal loans, consumer debt and debt management. ADNFCR-2776-ID-800003610-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Financial Conduct Authority in respect of regulated claims management activities; FRN:838450

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide