Kinsey Allen International comment on Goldman Sachs bonus announcement
Commenting on the Goldman Sachs bonus announcement, Ken Brotherston, CEO of Kinsey Allen International, said:
All investment banks and financial institutions have been walking a tightrope recently, balancing the need to demonstrate restraint in the face of public outcry and to retain the top talent they need to take advantage of the recovery in global financial markets. Its important that the public realise that the majority of banks, Goldman Sachs included, did not require a bail-out and should be left to set their own remuneration policies. While fair regulation is vital for a healthy financial sector, overzealous state interference is counterproductive. Although many people will balk at the large headline figures, those of an of anti-City disposition should note that half of the money designated to Londons bankers will be going straight into the public purse, contributing hugely to schools, hospitals and reducing the UKs deficit problems.