CEO gets Goldman $54 million in compensation
Goldman Sachs Group Inc. Chairperson and Chief Executive Lloyd Blankfein did improve than any of his age group in 2007, a year in which the largest investment bank profited in the world’s despite the subprime market fall down. Blankfein, the top -paid CEO among the investment banks, received payment valued at $54 million.
He drew $600,000 in income plus performance-related extras of $27 million, according to texts filed Friday with the Exchange and Securities Commission. He also received limited stock and stock choices valued at $26 million on the day they were approved. Other recompense Goldman Sachs awarded Blankfein $384,157 in 2007 includes a driver, car and security. The AP’s pay total calculations include directors, salary, bonus, perks, incentives, above-market profits on deferred compensation and the predictable value of stock choices and granted awards during the year.
The don’t include calculations changes in the present amount of pension benefits, and they a little bit differ from the totals companies record in the summary compensation chart of alternate statements organizer with the Securities and Exchange Commission.
Blankfein has come out of the crisis credit relatively unscathed so distant compared to some friends at competing firms. Jimmy Cayne, it was leader longtime of Bear Stearns Cos., was forced to give up the chief executive title to remain chairperson; while Merrill Lynch & Co. CEO Stanley O’Neal was expel from the company.
Morgan Stanley CEO John Mack approved his bonus after racking up sheer write-downs in 2007, as did Cayne and other best Bear Stearns manager. Lehman Brothers Inc.’s Richard Fuld received recompense valued at $22.1 million in 2007.
Goldman Sachs was capable to largely stay away the mortgage-losses that inundated its competitors, most important post record incomes during the year. Goldman Sachs posted $3.17 billion in earnings in its fourth quarter alone, distant surpassing its peers. Shares, which clear-cut about 13 % in financial 2007, Friday raised $1.42 to $160.07.
Via: Money.cnn.com