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Goldman Sachs chief gets $53.4m bonus

Goldman Sachs boss Lloyd Blankfein will have a very merry Christmas with a year-end bonus worth an estimated $53.4 million, a record for a Wall Street executive.

DNA Web Team

Updated : Sep 14, 2017, 04:02 PM IST

NEW YORK: Goldman Sachs boss Lloyd Blankfein will have a very merry Christmas with a year-end bonus worth an estimated $53.4 million, a record for a Wall Street executive.

Documents filed with the Securities and Exchange Commission late Tuesday showed the 52-year-old Blankfein received $27.3 million in cash, $15.7 million worth of stock and options worth $10.5 million.

The bonus for the chairman and chief executive, who took the helm at the biggest US investment bank this year after Henry Paulson left to become Treasury secretary, topped the record set last week of 40 million dollars for John Mack at Morgan Stanley.

The prior record was for Paulson, who was granted a $38.3 million bonus in 2005.

Goldman Sachs announced a series of other bonuses for its executives including $25 million each for Gary Cohn and Jon Winkelried, who both have the title of president and co-chief operating officer.

The bank granted $180 million in bonuses to its top 11 executives.

The announcement came at the end of a bumper 2006 for Wall Street firms, which oversaw multibillion-dollar corporate deals and rode a booming stock market to send their earnings into the stratosphere.

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