The Banking and Strategy Initiative

Chillin' out till it needs to be funded

Practising less deferred compensation and paying only for performance at Goldman Sachs | Bank Insight

Though cutting 2400 jobs and cutting base pay allowed Goldman Sachs to keep compensation at 42% in a  year of falling revenues, Lloyd Blankfein as CEO was paid lesser than the $12.6 mln in 2010 at $ 7mln after having upped base pay from $600k to $ 2 mln in the year. CFO David Viniar and President Gary Cohn were paid the same evenn as banker pay includng bonuses was cut by 21% at the bank.

The Bank changed its global PR officer this year as its investment bank trailed at $4.36 bln  in revenue and trading revenues matched the street despair at just $17.6 bln. However, Lloyd Blankfein’s take stil compares well with JPM CEO and Chairman, Jamie Dimon’s #17 mln as he is still to get cash compensation for performance revealed later, He has received 61,302 shares in stock on Feb 1 alongwith Cohn and Viniar.

The Goldman CEO is likely to complete another 4 years as Chief

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