The bank is the latest to report required pay discrepancies in their British units; the DOJ and SEC are looking into sales practices at the bank’s wealth management unit.
Goldman Sachs Group Inc. pays women in the U.K. an average of 56% less than male colleagues, another stark example of the entrenched gender imbalances in the richest corners of the global economy.
Online banks and some credit unions are responding to Fed rate hikes by aggressively raising deposit rates on CDs, savings accounts and money market products, while the nation's biggest banks are largely standing pat — for now.
Goldman Sachs needs to do a better job elevating women to its top ranks, new heir apparent David Solomon said recently. He has his work cut out for him.
Goldman Sachs CEO Lloyd Blankfein is reportedly considering leaving by the end of this year; American Express plans to reduce its merchant fees to stay competitive.
If community banks fail to keep up with higher rates offered by online banks, credit unions and (soon) big banks, their liquidity may deteriorate even faster.
At the U.K. investment bank, women earn 26% less than men and receive bonuses that are 60% lower, according to the lender’s annual report. Overall, it pays women just under half as much as male colleagues.
