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April 7, 2014

Goldman’s Blankfein Awarded $23 Million for Work in 2013

“Goldman Sachs Group Inc. GS -1.45% delivered its top executive his biggest paycheck in six years.

“Lloyd Blankfein, Goldman’s chairman and CEO, received $23 million in salary and bonus for his 2013 performance. He is also eligible to earn another $6 million if the firm hits certain targets over several years, according to a securities filing.

“Even without the long-term award, Mr. Blankfein’s compensation exceeded what his counterparts at the five other giant U.S. banks earned. But as the firm’s executives and board members have argued, Goldman’s returns remained ahead of its peers as well.

“Mr. Blankfein’s pay has climbed as the firm successfully cut costs, despite a tough trading environment that crimped results at what had been the Wall Street firm’s primary profit engine: its fixed-income, currency and commodities business.”

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Read full Wall Street Journal article here.

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