It has been reported that Goldman Sachs’ compensation and benefits expenses will total USD16.46 billion for 2006, a 40 per cent increase on 2005. This is due to higher net revenues and increased employment levels. Net revenues of USD37.67 billion and net earnings of USD9.54 billion for the year until 24 November were recorded.
“We are very pleased with this year’s performance,” says Lloyd Blankfein, the chairman and chief executive of Goldman Sachs. “The breadth of our franchise, the diversity of our businesses and the performance of our people enabled us to serve our clients around the world.”