The results for the last quarter for Goldman Sachs and Citibank have surprised not only by coming above expectations, but by doing so in surprising numbers. This of course has cause other topics to emerge, such as the compensation debate that is still ongoing in the US Financial Services industry.
Two major Wall Street banks have reported better-than-expected profits between July and September.
Goldman Sachs’ profits for the period were $3.19bn (£1.96bn), a four-fold increase from the same period in 2008.
It has set aside $5.35bn to cover pay and bonuses for the quarter, an average payout of $172,581 per worker.
Citigroup’s profits also grew, but the much lower figure of $101m reflected the impact of the recession on its High Street banking operation.
Interesting article and graph from the BBC
