{"id":367683,"date":"2011-04-04T05:00:00","date_gmt":"2011-04-04T05:00:00","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/04\/04\/goldman-sachs-almost-doubles-blankfein-pay-package\/"},"modified":"2011-04-04T05:00:00","modified_gmt":"2011-04-04T05:00:00","slug":"goldman-sachs-almost-doubles-blankfein-pay-package","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/04\/04\/goldman-sachs-almost-doubles-blankfein-pay-package\/","title":{"rendered":"Goldman Sachs almost doubles Blankfein pay package"},"content":{"rendered":"
\n

NEW YORK: Goldman Sachs Group Incorporated awarded Chairman and Chief Executive Officer, Lloyd C. Blankfein, $19m, in compensation for 2010, almost double the prior year, and granted him the first cash bonus in three years, Bloomberg reported on Saturday. <\/p>\n

The total includes $5.4m in cash, $12.6m in restricted stock, a $600,000 salary and about $464,000 in other benefits, the New York-based firm\u2019s proxy statement showed. Blankfein\u2019s $9.8m pay for 2009 included $9m in restricted stock plus salary and other compensation. <\/p>\n

Goldman Sachs, the fifth-biggest United States bank by assets, boosted Blankfein\u2019s compensation for a year in which earnings dropped by 38 per cent and the stock price was little changed. The amount falls in the middle ground between 2008, when Blankfein, 56, and six other senior officers got no bonuses, and the record-setting $67.9m award he received for 2007. <\/p>\n

\u201cThe fact that they would return to a more market-based pay is probably not surprising\u201d after lower amounts for 2008 and 2009, said Rose Marie Orens, a senior partner at Compensation Advisory Partners LLC in New York. \u201cThey\u2019re not quite back to anything remotely like what they paid in the prior years.\u201d <\/p>\n

Goldman Sachs\u2019s 2010 share performance \u2013 a decline of less than half of one per cent \u2013 outstripped competitors including Bank of America Corpration and Morgan Stanley, which was the second- biggest US securities firm after Goldman Sachs before both converted to banks in 2008. Shares of JPMorgan Chase & Co., which reported a record profit last year, rose-1.8 per cent during the year. <\/p>\n

All 30 members of the Goldman Sachs management committee received only restricted stock for their 2009 bonuses and four of them \u2013 Chief Financial Officer David A. Viniar, 55, President and Chief Operating Officer Gary D. Cohn, 50, and Vice- Chairmen J. Michael Evans, 53, and John S. Weinberg, 54 \u2013 received exactly the same $9m award as Blankfein. <\/p>\n

For 2010, Goldman Sachs once again matched all of those four executives\u2019 bonuses to Blankfein\u2019s $12.6m in restricted stock and $5.4m in cash. All four also received a $600,000 salary in 2010. <\/p>\n

\u201cThey\u2019ve had a history of paying their top five like partners,\u201d Orens said. \u201cIt\u2019s unusual, but it really comes from their partnership mentality.\u201d <\/p>\n

The firm disclosed in January that Blankfein\u2019s salary would increase to $2m in 2011 and that Cohn, Viniar, Evans and Weinberg would each receive a $1.85m salary starting this year. Each of them had received a $600,000 salary since 1999, the year the firm became a public company. <\/p>\n<\/div>\n<\/p>\n

See the original post:
\nGoldman Sachs almost doubles Blankfein pay package<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

NEW YORK: Goldman Sachs Group Incorporated awarded Chairman and Chief Executive Officer, Lloyd C. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-367683","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\nGoldman Sachs almost doubles Blankfein pay package - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/04\/04\/goldman-sachs-almost-doubles-blankfein-pay-package\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Goldman Sachs almost doubles Blankfein pay package - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"NEW YORK: Goldman Sachs Group Incorporated awarded Chairman and Chief Executive Officer, Lloyd C.\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/04\/04\/goldman-sachs-almost-doubles-blankfein-pay-package\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/04\/04\/goldman-sachs-almost-doubles-blankfein-pay-package\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Goldman Sachs almost doubles Blankfein pay package\",\"datePublished\":\"2011-04-04T05:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/04\/04\/goldman-sachs-almost-doubles-blankfein-pay-package\/\"},\"wordCount\":415,\"commentCount\":0,\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/04\/04\/goldman-sachs-almost-doubles-blankfein-pay-package\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/04\/04\/goldman-sachs-almost-doubles-blankfein-pay-package\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/04\/04\/goldman-sachs-almost-doubles-blankfein-pay-package\/\",\"name\":\"Goldman Sachs almost doubles Blankfein pay package - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\"},\"datePublished\":\"2011-04-04T05:00:00+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/04\/04\/goldman-sachs-almost-doubles-blankfein-pay-package\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Goldman Sachs almost doubles Blankfein pay package - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/04\/04\/goldman-sachs-almost-doubles-blankfein-pay-package\/","twitter_card":"summary_large_image","twitter_title":"Goldman Sachs almost doubles Blankfein pay package - Ghanamma.com","twitter_description":"NEW YORK: Goldman Sachs Group Incorporated awarded Chairman and Chief Executive Officer, Lloyd C.","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2011\/04\/04\/goldman-sachs-almost-doubles-blankfein-pay-package\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2011\/04\/04\/goldman-sachs-almost-doubles-blankfein-pay-package\/"},"author":{"name":"","@id":""},"headline":"Goldman Sachs almost doubles Blankfein pay package","datePublished":"2011-04-04T05:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2011\/04\/04\/goldman-sachs-almost-doubles-blankfein-pay-package\/"},"wordCount":415,"commentCount":0,"articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2011\/04\/04\/goldman-sachs-almost-doubles-blankfein-pay-package\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2011\/04\/04\/goldman-sachs-almost-doubles-blankfein-pay-package\/","url":"https:\/\/www.ghanamma.com\/2011\/04\/04\/goldman-sachs-almost-doubles-blankfein-pay-package\/","name":"Goldman Sachs almost doubles Blankfein pay package - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2011\/#website"},"datePublished":"2011-04-04T05:00:00+00:00","author":{"@id":""},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2011\/04\/04\/goldman-sachs-almost-doubles-blankfein-pay-package\/"]}]},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2011\/#website","url":"https:\/\/www.ghanamma.com\/2011\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/367683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/comments?post=367683"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/367683\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/media?parent=367683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/categories?post=367683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/tags?post=367683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}