Goldman Sachs chairman receives $19 million compensation

4 April 2011

The chairman and chief executive officer of Goldman Sachs Lloyd has received $19 million compensation for 2010.

Lloyd Blankfein was handed almost double the amount he was given 12 months earlier and the sum included $12.6 million in restricted stock, $5.4 million in cash, a $600,000 salary and other benefits totalling $464,000.

The industry figure was one of at least five executives at the organisation to receive the $5.4 million bonus, while other officials also gained from investments made in funds managed by the bank.

Speaking to Bloomberg News, senior partner at Compensation Advisory Partners in New York Rose Marie Orens said: "The fact that they would return to a more market-based pay is probably not surprising ... They're not quite back to anything remotely like what they paid in the prior years."

Last week, Reuters reported that former Goldman Sachs trader Morgan Sze looks set to launch a $1 billion-plus hedge fund in Hong Kong.

By Claire Archer

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