NEW YORK, March 19 (Reuters) - Senior executives at Goldman Sachs Group Inc got hefty 2009 payouts after all, according to the company's proxy statement on Friday.
Chief Executive Lloyd Blankfein and other senior employees are making up for lower bonuses in 2009 by taking more money out of investment funds set up for top executives at the firm.
Blankfein withdrew $18.7 million, while Chief Operating Officer Gary Cohn withdrew $15.1 million, the proxy said. The chief financial officer, David Viniar, took $11.5 million, and Jon Winkelried, the former president and chief operating officer, took $9.8 million.
Banks have faced sharp public criticism for employee payouts after the U.S. government bailed out banks reeling from the 2008 crisis. Goldman, which faced the most public ire, curbed compensation costs in the fourth quarter, and the company's full-year level came in below the record $20 billion it paid out in 2007.
The funds for top executive co-invest in private equity, venture capital and other assets available to Goldman's clients.
(Reporting by Jonathan Spicer; Editing by Tim Dobbyn) Keywords: GOLDMANSACHS/COMPENSATION (jonathan.spicer@thomsonreuters.com; +1-646-223-6253; Reuters Messaging: jonathan.spicer.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Chief Executive Lloyd Blankfein and other senior employees are making up for lower bonuses in 2009 by taking more money out of investment funds set up for top executives at the firm.
Blankfein withdrew $18.7 million, while Chief Operating Officer Gary Cohn withdrew $15.1 million, the proxy said. The chief financial officer, David Viniar, took $11.5 million, and Jon Winkelried, the former president and chief operating officer, took $9.8 million.
Banks have faced sharp public criticism for employee payouts after the U.S. government bailed out banks reeling from the 2008 crisis. Goldman, which faced the most public ire, curbed compensation costs in the fourth quarter, and the company's full-year level came in below the record $20 billion it paid out in 2007.
The funds for top executive co-invest in private equity, venture capital and other assets available to Goldman's clients.
(Reporting by Jonathan Spicer; Editing by Tim Dobbyn) Keywords: GOLDMANSACHS/COMPENSATION (jonathan.spicer@thomsonreuters.com; +1-646-223-6253; Reuters Messaging: jonathan.spicer.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.