Goldman Sachs Group Inc paid Chief Executive Lloyd Blankfein $22.6 million for 2015, according to a regulatory filing, marking his first pay decline in the last four years.
Blankfein received $24 million for 2014.
On top of his salary and other awards, Blankfein will be eligible to receive a total of $7 million based on his and the bank’s performance over the next eight years as part of Goldman’s long-term performance incentive plan for its employees.
According to the recent
filing, Blankfein’s compensation for 2015 included stock awards that were around $13.9 million and also a
performance bonus that was around whopping $6.3
The Goldman Sachs Group, Inc. is an American multinational investment banking firm that engages in global investment banking, investment management, securities and other financial services primarily with institutional clients.
Shares of Goldman Sachs declined 8 percent in 2015, making it the second worst performer among the big US banks after Morgan Stanley, which slumped 18 percent.
JPMorgan Chase & Co, the biggest US bank by assets, said that it had raised CEO Jamie Dimon’s 2015 pay package to $27 million, while arch rival Morgan Stanley said last week that it had shrunk CEO James Gorman’s compensation to $22.1 million from $23.3 million.
Goldman Sachs was founded in 1869 and is headquartered at 200 West Street in the Lower Manhattan area of New York City, with additional offices in other international financial centers.
The firm provides asset management, mergers and acquisitions advice, prime brokerage and underwriting services to its clients, which include corporations, governments and different individuals.
The firm also engages in market making and private equity deals, and is a
primary dealer in the US Treasury security market.