(Source: United Press International)
The average Goldman Sachs employee in London will make $748,000 in 2009, despite the near-collapse of the financial system a year ago, market analysts said.
The firm employs 5,500 people in the city, The London Times reported Thursday.
As markets have surged since March, financial firms are making a comeback. Investment bank JPMorgan Chase announced a third quarter profit of $3.6 billion Wednesday.
In Britain, top executives from foreign banks met with Financial Services Authority regulators to hear they would not be awarded government contracts if they did not agree to a code of conduct that includes guidelines on compensation policies.
The provisions include paying bonuses mostly in stock that can be retrieved if the deals go sour later.
UBS, Citigroup and Bank of America have agreed to the new terms, The Times said.
A service of YellowBrix, Inc.
