Goldman pays chief David Solomon $35m after record profits last year

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Goldman Sachs has doubled the wages of Chief Executive Officer David Solomon. $ 35 million Last year, US banks made record profits during the Wall Street trading boom.

Solomon was earning $ 17.5 million Goldman Allows Bribes to Secure Jobs to Raise Funds for Malaysia’s Sovereign Wealth Fund 1MalaysiaDevelopment Berhad After Bank’s Board Reduces Senior Manager Salaries Following Corruption Scandal In 2020, it will be $ 10 million less than the previous year.

Goldman said in a securities filing on Friday that Solomon received a base salary of $ 2 million in 2021, unchanged from the previous year. His variable compensation is $ 33 million, which includes a cash bonus of approximately $ 10 million and a $ 23.1 million stock incentive related to bank performance.

In October, Goldman said it granted performance-based stock value. $ 30 million We have $ 20 million in stock at Solomon and for Group President John Waldron. These awards will be paid in October 2026.

Goldman reported net income for 2021 this month $ 21.2 billionIt is more than double the level of the previous year and is easily the largest in the history of banks.

However, according to Goldman, fourth-quarter profits were down 13% year-on-year to $ 3.8 billion and salaries, including bonuses, were up 31% to $ 3.2 billion.

of interview “There is no doubt that inflationary pressures over compensation have had an impact,” Solomon said in the Financial Times earlier this month.

Solomon’s 2021 payments James Gorman, CEO of Morgan Stanley, a rival of Goldman’s traditional investment bank.Jamie Dimon, CEO of JP Morgan Chase, the largest US bank in assets, has been paid $ 34.5 million..

Gorman earned a base salary of $ 1.5 million, a cash bonus of $ 8.375 million, a deferred stock incentive of $ 5.025 million, and a performance-based stock bonus of $ 20.1 million. Dimon was paid a base salary of $ 1.5 million and a performance-based bonus of $ 33 million.

Goldman pays chief David Solomon $35m after record profits last year Source link Goldman pays chief David Solomon $35m after record profits last year

The post Goldman pays chief David Solomon $35m after record profits last year appeared first on California News Times.

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