£2bn profit for Goldman Sachs

WALL Street titan Goldman Sachs has unveiled a jump in profits as its traders raked in cash from turmoil on the markets.

The bank made a £2bn profit in the first three months of 2017, up 26pc on a year earlier.

It came after stock markets around the world tumbled, sparking a rush to buy and sell which boosted Goldman’s trading desk.

It makes the lender the best US performer so far this year, and marks a turnaround from late 2017 when it was left behind by surging markets after the election of President Donald Trump.

The lender’s 37,300 staff pocketed £2.9bn between them in pay and benefits during the quarter, or £77,750 each – over £10,000 more than they earned on average during the same period in 2017.