The boss of Goldman Sachs defended the payment of employees

Goldman Sachs paid its employees more than other financial groups as they work more efficiently, „said Executive Director of the bank holding company Blankfeyn Lloyd, quoted by Financial Times.
On sectoral conference held Blankfeyn has transformed many arguments in favor of higher revenue in Goldman, which have often been under criticism.
In particular he said that critics of Goldman Sachs often forget that the ratio of net profit compared to the number of employees in the company is among the highest in the world. Goldman Sachs brings profits to its shareholders, among them, retired, and institutional investors, and they all pay taxes, said the manager.
According to statistics from the year 2000 onwards Goldman paid employees 46.7 percent of its revenue, which is less in percentage than Morgan Stanley, Bear Stearns, Lehman Brothers, Merrill Lynch and the investment division of JPMorgan Chase.
Goldman Sachs is among the companies planning to pay his assistants record bonuses this year. Profits for the third quarter of this year increased nearly four-fold.

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Finance