Staff at investment banking giant Goldman Sachs earned a mammoth £4.1 billion in pay and bonuses during a bumper second quarter for the group.
Compensation and benefits were 47 per cent higher to reflect revenues soaring to a record £8.5 billion as improving financial markets buoyed the business.
The bank, which has more than 5,000 staff in the UK, also delivered a 65 per cent rise in second-quarter profits of £2.1 billion – well above expectations.
Chief executive Lloyd Blankfein said: “While markets remain fragile and we recognise the challenges the broader economy faces, our second quarter results reflected the combination of improving financial market conditions and a deep and diverse client franchise.”
Goldman Sachs took £6.1 billion from the US Government’s bail-out funds at the height of the crisis last October, but repaid the cash in June.
Goldman’s strong results underline its status as one of the strongest players on Wall Street.