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Share Price: 635.60
Bid: 635.30
Ask: 635.40
Change: -9.00 (-1.40%)
Spread: 0.10 (0.016%)
Open: 635.50
High: 637.80
Low: 633.80
Prev. Close: 644.60
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UPDATE 1-Goldman Sachs reports gender pay gap of 55.5 percent

Fri, 16th Mar 2018 14:22

LONDON, March 16 (Reuters) - Goldman Sachs on Fridayreported a mean gender pay gap in Britain for its internationalbusiness of 55.5 percent and a mean bonus gap for the unit of72.2 percent.

That gulf in pay comes close to the 59 percent gap revealedon Thursday by HSBC - the biggest yet reported by aBritish financial firm according to government data.

Thousands of large UK employers have been ordered todisclose their gender pay gaps by April, almost 50 years on fromthe passage of Britain's equal pay act.

Goldman Sachs said its gap reflected the fact that therewere more men than women in senior positions at the firm.

It also reported a mean gender pay gap of 16.1 percent and amean bonus gap of 32.5 percent in Goldman Sachs (UK) SVCLimited, which it said employs around 1,600 individuals fromnon-revenue divisions.

The bank employs 6,000 people in London. The remainder ofits UK employees work in its international business.

Other large banks have also been disclosing their gender paygaps ahead of the April deadline set last year by Prime MinisterTheresa May.

The continued gulf in earnings between men and women hasattracted significant public attention over the past year or so.

The gender pay gap measures the difference between theaverage salary of men and women, calculated on an hourly basis.

In Goldman Sachs' international business, 83 percent of thegroup earning the highest hourly pay were men, the bank said,while 62.4 percent of those on the lowest hourly pay were women.

This compared with 77.4 percent men in the highest paidgroup in Goldman Sachs (UK) SVC Limited, and 48.9 percent womenin the lowest paid group.

The Wall Street bank said it is committed to promotingdiversity and inclusion at all levels of the firm. On Thursday,it said it wanted women to make up half of its global workforce,starting with a target of 50 percent of its new analysts beingwomen by 2021.(Reporting by Emma RumneyEditing by Carolyn Cohn and Hugh Lawson)

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Venture Life renews revolving credit facility with Santander and HSBC

(Alliance News) - Venture Life Group PLC on Friday said it had renewed its revolving credit facility with Santander UK PLC and HSBC Innovation Bank Ltd.

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17 Apr 2024 16:42

Morgan Stanley, HSBC cutting Asia investment banking jobs on China deals slowdown

HONG KONG, April 17 (Reuters) - Morgan Stanley and HSBC are cutting dozens of investment banking jobs in the Asia Pacific region this week, sources said, as they ramp up cost-cutting, with weaker dealmaking and sluggish markets in China and Hong Kong weighing on business prospects.

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17 Apr 2024 11:49

Morgan Stanley, HSBC cutting dozens of Asia investment banking jobs on deal slowdown

HONG KONG, April 17 (Reuters) - Morgan Stanley and HSBC are cutting dozens of investment banking jobs in the Asia Pacific this week, sources with knowledge of the matter said, as weaker deal activities and sluggish markets in China and Hong Kong weigh on their business prospects.

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16 Apr 2024 17:09

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Blackstone, CVC consider bids for Superstruct festivals firm, sources say

LONDON, April 11 (Reuters) - Blackstone and CVC are among a list of potential bidders for European festivals organiser Superstruct Entertainment, several sources with knowledge of the situation told Reuters.

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9 Apr 2024 22:39

Argentina's Banco Galicia bets on lower inflation, rates after HSBC deal

BUENOS AIRES, April 9 (Reuters) - Argentina's Banco Galicia, buying HSBC's local assets in a near $500 million deal, is betting that new libertarian President Javier Milei will bring down soaring inflation and ease rates to boost lending in the South American nation.

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9 Apr 2024 15:40

Financial firms tout energy business after West Virginia restrictions

NEW YORK, April 8 (Reuters) - West Virginia has added Citi, HSBC and two other financial firms to a list of institutions that may be barred from some state business due to their energy finance policies, prompting three of them to assert their commitment to that industry.

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9 Apr 2024 15:12

London close: Stocks slip ahead of ECB, US inflation print

(Sharecast News) - London markets closed lower on Tuesday, as investors braced for a key US inflation reading as well as a policy announcement from the European Central Bank later in the week.

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9 Apr 2024 15:12

HSBC's Argentina exit doesn't impact valuation, Shore Capital says 'buy'

(Sharecast News) - Shore Capital has said that HSBC's disposal of its Argentinian business should not have a material impact on its investment case despite it generating a $1bn hit to the business.

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9 Apr 2024 08:52

TOP NEWS: HSBC to take USD1 billion loss on sale of Argentina business

(Alliance News) - HSBC Holdings PLC on Tuesday said it will sell its business in Argentina to Grupo Financiero Galicia SA, which it called the largest private financial group in the South American country.

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LONDON MARKET OPEN: Stocks shaky ahead of US CPI data, ECB decision

(Alliance News) - Stock prices in London opened mostly lower on Tuesday, as investors look ahead to a key inflation reading from the US, as well as the latest interest rate decision from the European Central Bank.

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9 Apr 2024 08:37

HSBC takes $1 bln hit from Argentina sale as Asia pivot continues

Grupo Financiero Galicia to buy the business for $550 mln

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9 Apr 2024 07:39

LONDON BRIEFING: HSBC sells Argentinian arm for USD550 million

(Alliance News) - Stocks in London are called to open lower on Tuesday, as investors nervously look ahead to US inflation data and the European Central Bank's latest interest rate decision.

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9 Apr 2024 07:05

HSBC to take $1bn hit from Argentina unit sale

(Sharecast News) - HSBC Holdings on Tuesday said it was selling its Argentina business to Grupo Financiero Galicia for $550m and take a $1bn pre-tax loss in the process as it continued to pivot its operations towards Asia.

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