View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Wealth
October 14, 2009

Tel: Goldman pondering $1bn charity donation

By Spear's

Goldman Sachs is considering donating in excess of $1bn (£627m) to charity in an attempt to quell the growing furore over the likely size of its 2009 bonus pot.

Goldman Sachs is considering donating in excess of $1bn (£627m) to charity in an attempt to quell the growing furore over the likely size of its 2009 bonus pot.

The investment bank, which is set to report its results for the three months to September on Thursday, is understood to be giving serious thought to some form of large philanthropic donation.

The aim of the donation, first disclosed by Henry Blodget’s Business Insider blog, would be to deflect the likely row come at the end of the year. By then Goldman’s total compensation pot is expected to be a record $22bn, delivering average pay and bonuses of more than $700,000 per employee, higher even than the average $661,000 paid out in 2007 – its last record year.

The bank’s partner managing directors – a top-tier of approximately 300 senior bankers who tend to be its biggest money-earners – are believed to be discussing the plan as one of a number of ways of deflecting political and investor backlash over the eventual size of the bonus pool.

To read the full story, visit telegraph.co.uk

Content from our partners
Meet the females leading in the FTSE
A cut above: Charles Sanford on why HNW clients choose LGT Wealth Management
How the Thuso Group’s invaluable experience and expertise shaped the Spear’s Schools Index 2024

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network