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Last Updated: Sunday, 18 January, 2004, 02:23 GMT
City trader's 30m record bonus
A City trader has landed a record 30m bonus, according to reports.

Driss Ben-Brahim, a trader at US investment bank Goldman Sachs, is believed to have generated millions of pounds in profits for the bank in 2003.

The bonus would have been paid in cash, shares and share options worth at least 30m, estimates the Sunday Times.

Mr Ben-Brahim, head of exotic derivatives, previously worked at the European Bank for Reconstruction and Development.

Trading in derivatives involves making a profit from small movements in futures and options.

The newspaper quotes a City insider as saying Mr Ben-Brahim had developed a complicated trading strategy which had generated "some unbelievable windfalls".

The trader's bonus puts him in the top 25 earners in the UK along with Chelsea boss Roman Abramovich, author JK Rowling and businessman Philip Green.




SEE ALSO:
Average UK pay 'up 3%'
24 Jun 03 |  Business


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