£16m for Goldman’s boss who quit after BHS probe

FAT-CAT banker Michael Sherwood was paid more than £16m last year – his last as head of Goldman Sachs in London.

The 51-year-old quit the investment bank in November after he became embroiled in the scandal at collapsed High Street chain BHS. The married father of two, who spent three decades at Goldman, has described his decision to advise Sir Philip Green over the sale of BHS before it went bust as a ‘blip’.

‘ I wish we hadn’t been involved,’ he said. Sherwood, who until he stood down was widely tipped as a successor to Goldman chief executive Lloyd Blankfein, has denied his departure was related to the BHS controversy. He still earned £16.1m in 2016, down from £16.9m the year before, and holds Goldman shares worth around £70m.

Blankfein, 62, also saw his pay cut last year – from £18.6m to £17.7m. Goldman shares have soared nearly 30pc since Donald Trump was elected US President in November on hopes that he will slash banking regulation.