May 27, 2015 / 10:43 AM / 4 years ago

Goldman tops 2015 City of London bank bonus charts

By Jamie McGeever
    LONDON, May 27 (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)
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