Goldman Sachs to scrap bonus cap for U.K. bankers, FT reports

Goldman Sachs will remove caps on U.K. banker bonuses, becoming the first big bank to take advantage of changes to pay rules in the region, The Financial Times’ Owen Walker and Joshua Franklin report. “This approach gives us greater flexibility to manage fixed costs through the cycle and pay for performance,” Goldman said in a statement. “It brings the U.K. closer to the practice in other global financial centers, to support the U.K. as an attractive venue for talent.”