Goldman Sachs Denies Bonuses for 100 Investment BankersBy
Number of dealmakers passed over for rewards is said to grow
On Wall Street, getting ‘blanked’ is often a signal to quit
Goldman Sachs Group Inc. didn’t pay 2016 bonuses to about 100 bankers who advise on takeovers and underwrite securities offerings, signaling to a bigger crowd of underperformers that they’re probably better off elsewhere, according to people with knowledge of the matter.
The move is more draconian than in past years when many dealmakers who failed to impress their bosses still got something, said the people, who asked not to be identified discussing the firm’s compensation practices. The number of employees denied a bonus in recent weeks is higher than a year ago — eliminating what’s typically a major component of their pay…
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