Goldman Sachs to reveal remuneration January 2012
Posted date: 17 January 2012
Goldman Sachs is set to reveal that it pays its top UK employees an average of £4 million, according to
media reports.
media reports.
The revelation from the Guardian comes ahead of the investment bank’s full-year report. Thanks to European legislation it has to disclose the amount paid to its “code staff” – those who have responsibility for managing or taking risks.
The results from last year’s regulatory filings for 2010 show that the 95 people who were deemed to be code staff shared a pot of £175 million, which included salaries.
This package was then topped up by two million restricted stock units (RSU) which at the time were worth around £208 million based on the £104 share price. The end value of these shares is still unknown as they are paid out over the course of a five-year period and will depend on the value of the shares at the time.
During 2010 Goldman also put in place one-off retention provisions for its code staff. This comprised of a further 3.7 million RSUs, reported to be worth £387 million. Once again, the true value will not be realised until the five-year period has passed.
The figures for remuneration packages in 2011 are due to be revealed tomorrow.
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