“Investors had feared that the looming prospect of an end to the US Federal Reserve’s $85bn-a-month bond-buying programme would impact profits at Wall Street’s major banks. However, Goldman Sachs navigated the turbulent quarter better than they expected. Profits climbed to $1.93bn (£1.28bn), from $962m in the same period last year, while revenues rose from $6.6bn to $8.6bn. Goldman Sachs employees were paid $253,691 on average, although the bank’s highest earning staff take home considerably more than that. Michael Sherwood, co-chief executive of Goldman Sachs and head of its London operation, received $15.8m as a share bonus alone last year.”
