Home Business NewsFinance News Ex-Goldman Sachs trader sues over $8.25m bonus as it's $5m less than his mum expected

Ex-Goldman Sachs trader sues over $8.25m bonus as it's $5m less than his mum expected

by LLB Editor
20th Jun 14 11:18 am

Get your hankies ready for former Goldman Sachs trader Deeb Salem. He’s dragged the Wall Street giant to court because his $8.75m bonus was too small.

Salem said he told his mother that he expected atleast $13m and was disappointed when he didn’t receive the amount as bonus. He’s now demanding Goldman Sachs to pay the $5m difference.

In a US arbitration hearing, Salem said he deserved a bigger bonus as he helped the bank make more than $7bn at a time when the credit crisis was about to begin.

“Let’s be very clear: I was one of the most sought-after investment professionals in the mortgage industry,” said Salem.

“I had the opportunity throughout the course of my career and throughout, from that day, from almost every month that I was at Goldman, to leave for other opportunities,” said Salem.

A Goldman Sachs spokeperson said: “These claims are utterly ridiculous, which is why they were rejected by a Finra panel, and unworthy of any further response.”

Now read:

This is the mistake that cost billionaire Arcadia boss Philip Green £5m in one day

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