Goldman files details of staff compensation with regulator
New York : Goldman Sachs Group gave Chairman and Chief Executive Officer Lloyd Blankfein $9.8 million (Dh35.96 million) in total compensation for 2009, the firm said in a regulatory filing.
Blankfein's pay included a $600,000 salary, $9 million in restricted stock awards, and about $262,000 in other compensation, New-York based Goldman Sachs said in the filing.
He received $862,000 in 2009, reflecting his decision to forgo a bonus for 2008, when the firm converted to a bank holding company and accepted $10 billion in government rescue funds.
Blankfein also made $18.7 million from his participation in investment funds the firm offers to clients. Goldman Sachs allows some executives to invest alongside clients so they can benefit from merchant banking, venture capital and "similar activities", according to the filing.
Short of record
Goldman Sachs gave Blankfein the same salary and bonus as Chief Financial Officer David Viniar, President Gary Cohn, and Vice-Chairmen J. Michael Evans and John S. Weinberg. The bonuses fell far short of the Wall Street record that Blankfein, 55, set with his $67.9 million bonus in 2007.
Goldman reported the $9-million all-stock bonus in February. Friday's filing adds details of the other compensation, including the investment returns. Cohn received a $15.1 million payout from the funds, while Viniar made $11.5 million.
Goldman Sachs said in December that the top 30 employees would receive all of their year-end incentive pay in stock that they can't sell for five years.
