Goldman Sachs disputes £2bn hike

Investment bank Goldman Sachs has disputed reports that it increased its employee benefits spend by £2bn, or 61% in the last financial year.

Lucas Van Praag, global head of communications, said: "There are four quarters in the year. I think for the media Christmas came a bit early." Van Praag said the actual figure was closer to 15% and said that the Goldman Sachs package was largely unchanged.

As well as paying bonuses, the bank provides dental cover and private medical insurance for all staff.