‘Twenty-five times salary’: Goldman scraps bonus cap for bankers
Eir Nolsoe and Michael Bow
London | Goldman Sachs has scrapped the bonus cap for its British bankers in a move that will allow star traders and deal makers to earn up to 25 times their salary in performance-linked awards.
The Wall Street bank said its decision to bring back multimillion-dollar bonuses was driven by a desire to better manage costs and reward success. It said the change would help make the UK more attractive to star bankers.
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The Telegraph London
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