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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/9m-bonus-for-goldman-sachs-chief.jpg"><img class="alignnone size-full" title="The joint head of banking giant Goldman Sachs in London has been awarded a 9 million pounds bonus, reports say" src="http://londonglossy.com/wp-content/uploads/2011/01/min-9m-bonus-for-goldman-sachs-chief.jpg" alt="The joint head of banking giant Goldman Sachs in London has been awarded a 9 million pounds bonus, reports say"/></a></p>
<p>The joint head of banking giant Goldman Sachs in London has been awarded a £9 million bonus, it has been reported.</p>
<p>The US bank&#8217;s share award to Michael Sherwood was revealed in American regulatory filings last week, The Sunday Times said.</p>
<p>The bonus, which will not be paid out in full until 2016, is even bigger than that of Lloyd Blankfein, Goldman&#8217;s chief executive, who will rake in £7.9 million plus a 330% rise in his basic salary.</p>
<p>The hefty payout comes despite the firm, which employs around 6,000 staff in the UK, posting a 38% drop in net earnings for the year to December 31 and a 13% decline in revenues.</p>
<p>Details of bonuses paid out at international banks will be watched closely on these shores as UK banks prepare to release their own figures next month.</p>
<p>Meanwhile, the heads of British banks have been meeting with the Government for talks, known as Project Merlin, over bonuses, small business lending and transparency.</p>
<p>Goldman Sachs took 10 billion US dollars (£6.2 billion) from the US Treasury at the height of the financial crisis but has since paid the money back, with taxpayers earning 1.4 billion dollars (£865 million) on the investment.</p>
<p>In the UK, the bank is trying to rebuild its reputation after it was fined £17.5 million by the Financial Services Authority (FSA) for failing to tell the regulator that Goldman trader Fabrice Tourre was under investigation when he took a job at the bank&#8217;s London office in 2008.</p>
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