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Daily Mail, London, business briefs column.
Knight Ridder/Tribune Business News, September, 2004
Daily Mail, London Knight Ridder/Tribune Business News
Sep. 22--INVESTMENT BANKS' WAGE BILLS SOAR: Bankers at the Wall Street powerhouses Goldman Sachs and Lehman Brothers have received bumper pay and bonuses.
The wage bill for the third quarter at Goldman -- the world's top-rated takeover adviser -- soared 19 percent to UKpound 1.26 billion. Lehman's was a comparatively modest UKpound 730m, but still up 11 percent.
Resurgent capital markets and the return of merger and acquisition activity have radically improved the fortunes of the two investment banks.
New York-based Goldman weighed in with a 30 percent increase in earnings to UKpound 490m, while Lehman's net profits rose 5 percent at UKpound 281m.
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