Friday, December 14, 2007
Perhaps they’ll be able to afford those properties after all
Top bankers are set to receive even larger multimillion pound bonuses than in previous years, despite the downturn in the global economy, say City figures. Big players in investment banks will learn they have received payments of between £1m and £5m in the next few days as bonus fever grips the City. Exceptional individuals will receive as much as £10m. Yesterday, bankers at Lehman Brothers began discovering the size of their bonuses, a day after Goldman Sachs revealed a record global bonus pool of £9bn. Staff at the US investment bank Morgan Stanley will learn their payouts today, while employees of Citigroup, Merrill Lynch and Barclays Capital will have to wait until after Christmas.