Cultura

Goldman tops 2015 City of London bank bonus charts



    By Jamie McGeever

    LONDON (Reuters) - Bankers at Goldman Sachs received the highest bonuses in London's banking industry this year but bonuses paid out by the top 10 banks were down overall compared to last year, a survey published on Wednesday showed.

    Goldman Sachs bankers received an average bonus of 194,000 pounds ($300,000), some 14 percent more than their peers at second-placed Morgan Stanley , according to salary benchmarking site Emolument.com.

    The top five in the survey were all U.S. banks. They paid notably higher bonuses than the leading European banks, in some cases nearly double. Other banks in the top five were Bank of America Merrill Lynch , JP Morgan and Citigroup .

    Last year, Goldman was ranked 8th in the table and Morgan Stanley was ranked 6th. Citi wasn't even in last year's top 10.

    Goldman paid the largest bonuses this year but JP Morgan's overall compensation, including salary and bonuses, was higher, Emolument said.

    "Continuing a trend established in the last few years, we expect to see base salaries shoot up in order to circumvent bonus cap regulations, especially at director and managing director level," said Emolument.com's Alice Leguay.

    The European Union's banking watchdog is seeking to impose rules on lenders aimed at stopping bankers from taking excessive risks to earn big bonuses.

    The British government has opposed the new rules, saying it will drive up fixed pay. But many citizens support a cap in bonuses amid a wave of popular anger over rising income inequality and the way risky lending contributed to the 2008 financial crash.

    The 2015 bonus data were collated from 189 front office directors working at investment banks in London.

    Below is a table of 2015 and 2014 figures.

    2015

    BANK AVERAGE BONUS (UK pounds)

    Goldman Sachs 194,000

    Morgan Stanley 170,000

    BAML 166,000

    JP Morgan 162,000

    Citigroup 143,000

    Credit Suisse 135,000

    Deutsche Bank 121,000

    Nomura 119,000

    HSBC 116,000

    UBS 115,000

    2014

    BANK AVERAGE BONUS (UK pounds)

    Deutsche Bank 233,000

    UBS 233,000

    JP Morgan 222,000

    Credit Suisse 214,000

    Nomura 196,000

    Morgan Stanley 192,000

    BAML 179,000

    Goldman Sachs 174,000

    HSBC 134,000

    Societe Generale 123,000

    (Reporting by Jamie McGeever; Editing by Katharine Houreld)