Goldman Sachs results 'could bring increasing bonuses'

13 July 2009

Goldman Sachs' anticipated strong trading results for the second quarter could result in an increase in bonuses for employees at the bank, it has been suggested.

According to the Times, latest estimates have suggested that the Goldman Sachs' revenue for the three months to June 30th will be $10.7 billion.

This is higher than the $9.4 billion recorded in the three months to May 30th last year, with the financial reporting period having been changed for 2009.

Bank of America-Merrill Lynch analyst Guy Moszkowski noted that Goldman Sachs is likely to make a $26.4 billion profit from trading this year, with 44.2 per cent of revenue expected to be set aside for remuneration and benefits.

This, he said, would result in the total pay pool at the firm rising to $17.9 billion.

A number of US Banks - including JPMorgan Chase, Bank of America and Citigroup - are set to reveal their earnings for the second quarter this week.

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