Goldman Sachs pays its employees more than other financial groups because its employees are more productive, Lloyd Blankfein, Goldman CEO, told a banking conference on Tuesday. Blankfein said that people often overlooked the fact that net income generated per head was a multiple of the peer average and that Goldman staff “are among the most productive in the world.” Blankfein spoke after Ken Lewis, outgoing CEO of Bank of America, told the conference that BofA’s controversial acquisition of Merrill Lynch, and also Countrywide , would pay off in the long term.

This entry was posted by Gwen Robinson on Wednesday, November 11th, 2009 at 4:42 and is filed under Capital markets, People. Tagged with BofA, goldman sachs, ken lewis, lloyd blankfein. Edit this entry.