NEW YORK, Jan 28 (Reuters) - Goldman Sachs Group more than tripled Chief Executive Lloyd Blankfein's salary to $2 million for this year, according to a filing made with regulators on Friday.
The bank, which has come under fire for its pay practices, also raised the salaries of Chief Financial Officer David Viniar and Chief Operating Officer Gary Cohn to $1.85 million, the filing said.
All three executives previously earned a base salary of $600,000, according to filings.
(Reporting by Elinor Comlay. Editing by Robert MacMillan)
((elinor.comlay@thomsonreuters.com; +1 646 223 6116)) Keywords: GOLDMANSACHS/PAY
* CEO Blankfein to get $2 million salary
* CFO, COO to get $1.85 million
(Changes headline, adds detail on shares, background on Pandit)
NEW YORK, Jan 28 (Reuters) - Goldman Sachs Group more than tripled Chief Executive Lloyd Blankfein's salary to $2 million for this year, according to a filing made with regulators on Friday.
The bank, which has come under fire for its pay practices, also raised the salaries of Chief Financial Officer David Viniar and Chief Operating Officer Gary Cohn to $1.85 million, the filing said. All three executives previously earned a base salary of $600,000, according to filings.
Goldman Sachs earlier this month reported a full-year profit of $8.35 billion, but its shares were down 0.4 percent or 68 cents in 2010. The shares are down almost four percent so far this year.
Banks including Goldman Sachs slashed bonus payments during the financial crisis, when they faced public outrage over government bailouts.
RAISES ALL ROUND
Citigroup Inc Chief Executive Vikram Pandit, who had pledged to take a $1 salary until the bank returned to sustained profitability, last week got a $1,749,999 raise just days after the bank reported its first full-year profit since 2007.
And earlier that Friday, Morgan Stanley gave CEO James Gorman an incentives package worth a potential $7.4 million.
On the same day, CIT Group awarded Chief Executive John Thain -- the former CEO of Merrill Lynch -- several million dollars of incentives.
(Reporting by Elinor Comlay. Editing by Robert MacMillan, Bernard Orr) Keywords: GOLDMANSACHS/PAY (elinor.comlay@thomsonreuters.com; +1 646 223 6116) COPYRIGHT Copyright Thomson Reuters 2011. 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.
The bank, which has come under fire for its pay practices, also raised the salaries of Chief Financial Officer David Viniar and Chief Operating Officer Gary Cohn to $1.85 million, the filing said.
All three executives previously earned a base salary of $600,000, according to filings.
(Reporting by Elinor Comlay. Editing by Robert MacMillan)
((elinor.comlay@thomsonreuters.com; +1 646 223 6116)) Keywords: GOLDMANSACHS/PAY
* CEO Blankfein to get $2 million salary
* CFO, COO to get $1.85 million
(Changes headline, adds detail on shares, background on Pandit)
NEW YORK, Jan 28 (Reuters) - Goldman Sachs Group more than tripled Chief Executive Lloyd Blankfein's salary to $2 million for this year, according to a filing made with regulators on Friday.
The bank, which has come under fire for its pay practices, also raised the salaries of Chief Financial Officer David Viniar and Chief Operating Officer Gary Cohn to $1.85 million, the filing said. All three executives previously earned a base salary of $600,000, according to filings.
Goldman Sachs earlier this month reported a full-year profit of $8.35 billion, but its shares were down 0.4 percent or 68 cents in 2010. The shares are down almost four percent so far this year.
Banks including Goldman Sachs slashed bonus payments during the financial crisis, when they faced public outrage over government bailouts.
RAISES ALL ROUND
Citigroup Inc Chief Executive Vikram Pandit, who had pledged to take a $1 salary until the bank returned to sustained profitability, last week got a $1,749,999 raise just days after the bank reported its first full-year profit since 2007.
And earlier that Friday, Morgan Stanley gave CEO James Gorman an incentives package worth a potential $7.4 million.
On the same day, CIT Group awarded Chief Executive John Thain -- the former CEO of Merrill Lynch -- several million dollars of incentives.
(Reporting by Elinor Comlay. Editing by Robert MacMillan, Bernard Orr) Keywords: GOLDMANSACHS/PAY (elinor.comlay@thomsonreuters.com; +1 646 223 6116) COPYRIGHT Copyright Thomson Reuters 2011. 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.