Gold­man awards CEO Blank­fein $23m in pay for 2015

The Pak Banker - - FRONT PAGE -

Gold­man Sachs Group Inc Chief Ex­ec­u­tive Of­fi­cer Lloyd Blank­fein re­ceived $23 mil­lion in salary and bonuses for 2015, ac­cord­ing to a per­son fa­mil­iar with the mat­ter.

That's the first de­cline in four years for Blank­fein, who re­ceived $24 mil­lion in 2014. Gold­man said in a reg­u­la­tory fil­ing it had awarded Blank­fein a re­stricted stock bonus of 96,934 shares worth $14.7 mil­lion, based on Gold­man's clos­ing price of $151.65 on Thurs­day when the bank said it granted the award. Half of that bonus is in share units tied to per­for­mance.

Gold­man's board of di­rec­tors typ­i­cally awards ex­ec­u­tives 70 per­cent of their bonus in stock and 30 per­cent in cash, sug­gest­ing that Blank­fein also re­ceived a $6.3 mil­lion cash bonus. Gold­man does not dis­close the full de­tails of ex­ec­u­tives' pay pack­ages un­til it files its proxy state­ment. Com­bined with a salary of about $2 mil­lion, Blank­fein's to­tal pay pack­age for last year was roughly $23 mil­lion. Gold­man Chief Fi­nan­cial Of­fi­cer Har­vey Schwartz and pres­i­dent Gary Cohn both re­ceived re­stricted shares worth $13.4 mil­lion. Gold­man in 2015 posted a re­turn on equity (ROE) of 7.4 per­cent, af­ter be­ing hit in the fourth quar­ter by a $5 bil­lion set­tle­ment re­lated to its deal­ings with mort­gage backed se­cu­ri­ties dur­ing the fi­nan­cial cri­sis re­duced ROE.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.